Preparing to get married is a time filled with excitement and joy. In the midst of making all the arrangements and rehearsals, couples may forget to discuss certain items, like their finances. Each person brings his or her own perspective regarding spending and saving into the relationship. It is important for Pennsylvania couples approaching a wedding to understand how they are going to handle finances together, possibly by using a prenuptial agreement.
When a couple gets married, the two individuals can choose to combine all of their finances. However, this is not necessary; each spouse can decide to keep his or her own accounts. The same goes for credit. A couple can either go into a joint credit card, or keep their own separate cards and accounts.
A prenuptial agreement can assist with determining these aspects of a couple’s finances and preventing future conflicts. Additionally, creating a prenuptial agreement can protect either spouse in the possibility of a divorce or remarriage. It is crucial for a couple to be aware of their finances and assets if they are going through a separation. If a couple stays together, a prenuptial agreement can make either spouse aware of possible problems and allow them to have a plan if conflict arises.
Planning for one’s financial future can take a backseat when one is getting married. A prenuptial agreement provides a way for a couple to take time aside and get an idea of possible challenges that may arise throughout a marriage. Couples planning to wed in Pennsylvania can look into these agreements and be better prepared for potential conflicts.
Source: marketwatch.com, “Financial planning tips for happier ever after”, Jeanette Pavini, Dec. 5, 2014