Magazine article USA TODAY

Money Mistakes in Your Second Marriage

Magazine article USA TODAY

Money Mistakes in Your Second Marriage

Article excerpt

Matrimonial law attorney Jacqueline Newman, author of Soon to Be Ex: A Guide to Your Perfect Divorce & Relaunch, details money mistakes that could wreck your second marriage:

* You fail to get a prenuptial agreement. "A prenup offers a chance to state which assets will be shared between spouses and which will be separate. That means that you two--and not the laws of your state--determine how your assets will be divvied up if things in the relationship don't work out. Yes, it's unromantic to think about the prospect of another divorce when you're just getting remarried, but it's a reality couples ought to prepare for."

* You keep your financial cards too close to the vest. "it's understandable to want to be protective of your finances after you've been divorced but, whether or not you decide to merge finances with your new partner, you still owe it to one another to lay all of your cards on the table--debt, assets, baby mama drama, whatever. If it has the potential to impact your new family's finances in any way, it should be out in the open. …

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