Money and Marriage - Finances When Getting Married Later in Life 

Money and marriage: it’s one of those touchy topics that are sometimes necessary, but often awkward, to address. Finances, particularly when getting married later in life, are something many of us avoid discussing.

However, while marriage and money are not your typical romantic partnersprotecting your finances through marriage later in life is key to ensuring your future is secure. This becomes particularly important if you or your children have concerns it is a marriage for money. 

money and marriage

In this article we will discuss: 

  • Things to discuss with your partner prior to marriage later in life. 
  • Why protecting your money and creating directives for your finance matters.  
  • What steps you should take to protect your finances. 
  • Where to seek help. 

Discussions To Have Prior To Marriage Later In Life 

It’s never too late to find love, no matter your age. Whether you’re marrying for the first time or you’ve been down the aisle before, marriage in later life requires some careful discussions around money.  

When you marry later in life, you have a whole history behind you. This means that your marriage will need to take into account important decisions concerning things such as finances, housing, superannuation, any dependents, assets, estate planning and more.  

Combining finances later in life can be daunting; ensuring you and your assets are protected should things not work out or once you pass away, is important to address. 

Why Do These Discussions Matter So Much? 

Marrying later in life means you have already accumulated a number of assets. You’re also more likely to have developed your own habits around money and how it is spent.  

Ensuring you are upfront and realistic about the challenges around merging your assets and your lives means you have a better chance of success.

Should the worst happen and you find yourself facing divorce, these discussions can help ease the separation and aid in less difficult divorce financial planning.  

It also means less chance of money related conflicts, both for yourselves, or any children and family when you pass away. Money and marriage can easily tear families apart when not handled properly.  

Money and Marriage - What Steps Can You Take to Protect Your Finances? 

Thankfully, there’s no need to work all this out on your own! Your financial advisor and legal representation can help you address all these concerns so that you can focus on the more exciting things – like getting married!  

marrying later in life

The main areas to cover and create agreements for should include:  

Property Ownership  

If you already own property, does it remain in your name? Do you and your partner become joint owners? Who is responsible for its expenses and any issues? What if you divorce? Should you die, does the property become your partner’s or will it be inherited?  

Keeping your personal property separate or knowing how to update ownership, is something you must address when it comes to money and marriage.   


Do you intend to set up a combined SMSF with your new spouse? You’ll need to discuss whether you’re on the same page regarding investment strategies if you are investing together.

Further, any binding nominations that dictate where your super goes in the event of your death should be discussed and the details kept with a trusted advisor. SMSFs are more difficult to disentangle in the event of a separation also, so you may prefer to keep you super separate.  

Estate Planning 

What happens to your assets after you pass away is perhaps the most crucial thing to address when getting married later in life. This is especially true if you have children. Creating clear directives about who gets what via estate planning can ensure there is no conflict between your partner and your children. 

Let Us Help You Ease Your Money and Marriage Concerns

Ultimately, when getting married later in life, it can be easier to keep your existing assets and property separate from your union. This is especially pertinent if you have children to provide for. However, if you choose to combine money and marriage more intricately, it is still possible to protect yourselves.  

If you need support regarding decisions and directives concerning money and marriage, Collins Mann can assist. Whether you need advice regarding a binding financial agreement, pre/post-nuptial agreements, or help to manage your money once married, we are the qualified experts you need.  

We support our clients to secure their financial future, for a life of choice without compromise, no matter what comes along.  

Be prepared and protected as you enter a new chapter of money and marriage. Contact Collins Mann today on 07 3251 3200.  


Financial Services

Our services include:

  • Values-based financial planning.
  • Wealth accumulation strategies.
  • Tax-effective strategies.
  • Risk management.
  • Retirement planning.
  • Estate planning.
  • Divorce financial settlement analysis.


Brisbane Sydney
Melbourne Adelaide
Canberra Darwin
Perth Tasmania
Gold Coast Sunshine Coast