Friday, December 23, 2011

95 percent of all divorced people eventually remarry

According to a study, “95 percent of all divorced people eventually remarry . . . 76 percent of second marriages fail within five years . . . .87 per cent of third marriages fail and 93 per cent of fourth marriages end in divorce within five years."  http://www.allaboutfamilies.org/00aaf14.html 

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My opinion of this study is that people aspire to have a loving marriage that lasts forever, but the day-to-day grind of working, raising kids and dealing with financial challenges causes stress that leads many to divorce.  I don't pretend to know all of the reasons for a divorce, or the reasons some married couples stay happily together.  However, based on these statistics, I think people should be very prudent of their financial affairs when they re-marry.

If pre-marital property is co-mingled with a spouse, it become marital property that is divided between the parties in the event of a divorce.  This is true, regardless of the length of a marriage.  The most common situation where this arises is when one spouse has a home before the marriage and adds the spouse to the deed when they marry.  There are many valid reasons for a newly married couple to do this, however, it is risky for this transaction.

Another situation arises when one spouse inherits money from relatives.  If this inheritance is co-mingled in joint bank accounts or stock accounts, then it becomes marital.  In the event of a divorce, this property will be evenly divided, regardless of the length of time between the co-mingling and the divorce.

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