Second marriages are more successful if both parties pay close attention to financial details, especially as they relate to financial contracts incurred during a first marriage. For example, in Florida, if one ex-spouse is behind on mortgage obligations, and if their ex-spouse remains legally obligated for that debt, both may be subject to collection activities. This should be a concern to engaged couples as they plan a future together.

One question often asked is whether or not a divorced person can be held accountable for marital debts that were divided in a divorce decree. The answer is yes, they are still responsible unless they have been properly removed from that obligation. The details of the divorce agreement do not supersede financial contractual agreements made while married. If their ex falls behind on mortgage payments or on a second mortgage, a new finance may arrive at the altar of a second marriage with heavy financial baggage.

The best way to solve this touchy financial dilemma is to be sure that a new fiancé is totally cleared of debt from their first union, especially if you plan joint ownership of assets. If possible, one solution is to have the ex-spouse refinance those obligations in their own name. That will remove the now divorced partner from financial obligations. It is wise for engaged couples to fully disclose to each other any possible financial conflicts and debts that may still be hanging on from a previous marriage.

For a fresh start to be truly fresh, one or both parties of a previous marriage may need to declare bankruptcy. This can be a drastic, but viable solution for major debts. Another solution could be a shortsale. Consult with your bankruptcy attorney to see what path may be available for your best chance at financial success in the future.

Source: Bankrate.com, "Is fiancé on the hook for ex's 2nd mortgage?" Steve Bucci, Jan. 12, 2012