5. KNOW YOUR FINANCES AND KNOW YOUR NEW PARTER'S FINANCES ALSO.If you’re both spenders, you may want to discuss this and get some financial counseling and set some rules for the relationship before you move in together. If this was a problem in your previous relationship, don’t let it be a problem again. It may not sound romantic, but it’s realistic. Putting together a financial budget, making certain you can support your lifestyle together and figuring out who commits what to its financial health will give you both peace of mind as you move into your future together. Read more about
finances after divorce....
6. CONSIDER A PRENUPTUAL AGREEMENT.If you didn’t sign a prenuptial agreement in your previous relationship, perhaps this time you’ll think about this financial option. This is particularly important if you have accumulated financial assets – a home, business, 401K or other investments – before your marriage. This protects both of you, should the relationship ever founder. You can find legal paperwork on the Internet, but an attorney is a better alternative if you have the money to obtain one. Click here to read more
about prenuptial agreements....
7. KNOW -- AND UNDERSTAND -- ANY PRIOR FINANCIAL COMMITMENTS. Does your
potential spouse pay child support or alimony or have to keep an insurance policy or arrange
travel for children on the holidays or during the summer as part of a court-ordered decree? While you are not legally responsible for any of this if you marry, you are responsible for your own financial and mental wellbeing. Stress can accompany debt. And if he or she is already financially committed by the courts, you should consider whether long-term this is a relationship that you can live with, given you will likely carry the financial load if you marry – and if you decide to have children.
The tips for this list were culled from experts and articles on divorce360.com. If you have suggestions for tips to add to this list, please e-mail us at editors@divorce360.com.