It happens more than you think. An older person remarries a young person, and as the new couple ultimately plans for the inevitable, the battle over who deserves what causes a family rift that involves all their children.
These marriages, which often begin as May-December relationships, present all sorts of financial and family challenges.
John Iannucci, the owner of ILG Private Wealth in Bonita Springs, joined Gulf Coast News on how to make things go more smoothly.
A "May-December marriage" refers to a marriage or romantic relationship between two people with a significant age difference, often with one person being considerably younger than the other. The "May" part typically represents the younger person in their springtime of life, while "December" represents the older person in their later years.
If one spouse is significantly older than the other, that means you are dealing with children of all ages with wide-ranging expectations of what they deserve when you pass away. One thing Iannucci recommends is to ask everyone who will benefit from your life's work what they want. Another suggestion is to get everyone in a room and explain what will happen when you are no longer around.
For more information, visit ILG Private Wealth online.
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