- Joined
- Feb 19, 2020
- Messages
- 1
- Reaction score
- 0
- Country
Hi, my ex-wife is now my current fiancee. We haven't set a wedding date but we've suddenly started wondering about the tax implications of re-marrying. I hope this forum can help. Here are the basis data:
First married 1991. This was the first/only marriage for each of us and neither had prior offsrping.
Two adult children, 26 and 23. The 23 year old is still on my health insurance.
Divorced in 2017. Divided about $3M in assets when we divorced.
Got back together in 2018, and are now engaged.
We each currently have about $1.7M in assets. We are both retired, living on investment assets and rental property incomes. Going forward, we'll probably both have $50K or less taxable income each year from rentals, no earned w2 income going forward. I may have some 1099 income from occasional consulting gigs.
When we re-marry, will there be material financial/tax implications that we will regret not better understanding and planning for?
If so, what are those?
Thanks for any feedback.
First married 1991. This was the first/only marriage for each of us and neither had prior offsrping.
Two adult children, 26 and 23. The 23 year old is still on my health insurance.
Divorced in 2017. Divided about $3M in assets when we divorced.
Got back together in 2018, and are now engaged.
We each currently have about $1.7M in assets. We are both retired, living on investment assets and rental property incomes. Going forward, we'll probably both have $50K or less taxable income each year from rentals, no earned w2 income going forward. I may have some 1099 income from occasional consulting gigs.
When we re-marry, will there be material financial/tax implications that we will regret not better understanding and planning for?
If so, what are those?
Thanks for any feedback.