We all believe in the power of love. Even as we experience heartache and see past loves lost, we believe that all you need is love. The reality is sometimes quite different, of course. We need love, yes, but we also need the means to pay for a roof over our heads, food on our tables and to ensure financial security in retirement.

Those concerns with security often become more important as we get closer to the end of life than its beginning. When mature folks begin to consider whether or not to remarry, part of their deliberations should include the nitty-gritty of finance – including Medicaid planning, asset protection, estate planning and more.

As life expectancy continues to grow, more and more people realize that the wedding vows they took decades earlier – to have and to hold…until death us do part – are necessarily wise or healthy to keep. Divorce happens, and sometimes it happens later in life.

Because financial disagreements and problems are often near the top of lists of reasons for divorce, it makes sense that consideration of a second (or third) marriage begins with a financial assessment that can help graying couples avoid some of the mistakes of youth.

A recent newspaper column suggested that a good starting place is a thorough review of income, assets, liabilities and plans for the future.

Part of that review should be “whether assets can be insulated from Medicaid spend-down.” The joint federal-Georgia program can provide coverage to eligible seniors. But in many cases, eligibility is only attainted after that spend-down – an often complex and confusing process that requires strict adherence to unforgiving rules and regulations.

The couple contemplating remarriage should also consider their estate planning goals – especially if one or both has children from a previous marriage. Are joint finances the and estate plans smart way to go or would each be better served by maintaining prior estate plans?

These are questions to discuss not only with each other, but with a Cumming attorney experienced in both Medicaid planning and estate planning, as well as in asset protection and Elder Law.