Weddings have become huge affairs, often requiring a significant amount of time and money to plan. But it is even more important for couples to discuss their finances and be prepared to be honest about money. It should come as no surprise, money is one of the biggest stressors in a relationship. Some topics you may want to discuss include: how much debt you have, what retirement assets you have, and whether you are more of a saver or a spender. If you are hesitant to discuss this with your spouse-to-be, ask yourself why. It's also important to talk about your goals, such as buying a house, paying off debt, starting a business, earning a degree or starting a new career. If you have assets or children from a prior marriage, you may want to consider having a pre-nuptial agreement. If you and the one you love don't see eye to eye on these issues, don't despair. You could agree to each have your own discretionary funds, keep assets solely titled, or find other compromises. The important thing is to not let financial issues take you by surprise!
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Please note!
The author of this blog, Heather L. Sunderman, is an attorney licensed to practice only in the State of Maryland, the District of Columbia, and the Commonwealth of Virginia. The purpose of this site is to provide some general information and commentary for anyone interested in family law. No legal advice is provided on this blog, and no attorney-client relationship is created by viewing or commenting on this blog. Your comments and emails are welcomed, but for your protection, please don't post confidential information about yourself.
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