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New Jersey residents might be surprised to learn that almost half of new marriages in the United States include at least one person that has been married before. People are not giving up on matrimony, but there might be a few more things to discuss the second time around. Topics like existing child support and alimony can become a point of contention if a couple does not come up with a solid plan ahead of time.
When a parent remarries, his or her new family may be categorized as a blended family. This term usually refers to a marriage in which one or both spouses has children from a previous relationship. Blended families have a good chance to be happy and successful, but careful planning is required, especially when it comes to finances.
It might sound simple to just split bills and household expenses right down the middle, but this is often not practical or feasible. For example, one spouse may be making child support payments to a third party, while the other stands to lose existing alimony payments when they remarry. It is common for a person to stop receiving alimony payments if they marry again. There are many different scenarios that can seem confusing, and it might be a good idea to consult a professional to help establish a financial plan before getting married.
Alimony payments are usually backed by a court order, and even when a person is ready to remarry, it’s still important to consider factors from a previous divorce. It may seem intimidating or uncomfortable to discuss a previous marriage with a new spouse, but full disclosure its typically best. New Jersey couples might want to consult an attorney before saying “I do.” An attorney can help a client get financial matters squared away before the big day.
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