Money matters for later life marriages
More than 27,000 men and 18,000 women over 50 were married in Great Britain in 2010, the latest year for which figures are available. For a small proportion – almost 4000 grooms and just over 2000 brides – it was a first-time marriage. In addition, in 2011 there were 2340 same-sex civil partner- ships among the over-50s.
While not wanting in any way to detract from the excitement and romance of a wedding, marriage in later life can be more complicated, especially for couples who each have substantial individual assets or property. If they also have ex-spouses still living and children from previous relationships, the situation can be even more complex. So, before you tie the knot, what financial considerations do you need to address?