Feb 13, 2024

The Golden Bachelor Legacy: Navigating Love, Wealth And Gray Divorce With Prenuptial Agreements

For the multitude of people everywhere who watched The Golden Bachelor, it was mesmerizing. Who would have thought that one 72 year old guy from Indiana could capture the hearts of not only each of the 22 women who appeared on the show, but women everywhere.By the time Gerry chose to give his final rose to Theresa, whether you supported or disagreed with his choice, everyone wanted a glimpse into their future.Not at all surprising to a seasoned divorce lawyer, however, was the post-finale banter about whether or not they would get a prenup.The season’s episodes and resulting “gossip” set the stage for this debate: - Anyone who watched Gerry and Theresa’s hometown episode saw that Theresa already has many adult children and grandchildren whom she is obviously very close with.- Anyone who watched the fantasy suites episode gleaned that one of the many reasons Gerry ending up selecting Theresa was how impressed he was with her career in wealth management.- Anyone who watched the Finale and Golden Wedding saw that Gerry also has children and grandchildren whom he is very close with.- Anyone who follows the Facebook group chats knows that Gerry may have had other relationships that he did not disclose.When you marry in your seventies, there is no guarantee how long you will be married, and you are certainly not having more children or grandchildren together.Preserving your assets for your existing family is a priority for many second marriages, especially those who are marrying later in life and will not be having a family together.Moreover, when only one person is still working and/or has more money than their soon to be spouse, which is oftentimes the case in later in life marriages, that person may not want to feel like their partner is marrying for money or to be financially supported for the fourth quarter of their life.Especially at ages 70 and 72, the ability to keep your income and assets as your own may be reason enough to have a prenup.Many years ago, prenups were exclusive to either second marriages or the ultra-wealthy, many of whom came from multi-generational wealth and whose parents perhaps even tyingpaying for the wedding to requirea prenup.Rarely did you hear of young couples getting prenups nor did you hear about middle class (not ultra-wealthy) people getting prenups.Nowadays, things have really changed.Prenups are no longer exclusive to second marriages and the ultra-wealthy.Many first-time young newlyweds as well as parties marrying later in life are frequently using prenups to provide certainty for their futures.While no one really knows whether or not Gerry and Theresa actually got a prenup, let us hope that their situation is a lesson to many getting married: regardless of your age or income bracket, and whether it is a first marriage or not, you should talk with a seasoned divorce and/or estate lawyer to determine whether a prenup may be beneficial to you and your partner’s futures.

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