Although he or she may be surprised to find out that you've had past financial problems, it's better to disclose this. There are positive steps you can take to improve your financial position as a couple. Children from a former marriage or relationship Children, while a blessing, can strain a marriage financially, particularly when the children are from one or more former marriages or relationships. You or your prospective spouse may have an obligation to pay child support or may have joint or sole custody of one or more children. You may be concerned that an ex-spouse will demand even more child support in the future, or you may wonder who will be obligated to pay for the children's expenses or for their future college education.
Adult children present special problems.
In particular, you'll want to carefully plan your estate to avoid the conflicts that can erupt if your adult children resent your current spouse or fear that he or she will inherit or mismanage your estate. For instance, you or your future spouse may have to make alimony payments that may seriously affect your finances as a couple, particularly if the ex-spouse goes back to court seeking more money. In addition, an ex-spouse may be the beneficiary of a life insurance policy or may be entitled to a survivor's benefit from your spouse's pension plan. When you remarry, you should review your will, your insurance policies, your IRAs, and your employer-sponsored retirement plan. You may want to change your beneficiary designations, although this may not always be possible.