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Catch up on some of the latest posts with this week's roundup:
Talking Marriage: Should You Get a Prenup?
by Chad Rixse, Millennial Wealth, LLC
With the divorce rate in the United States at an abysmal 40 to 50 percent, prenuptial agreements are by no means a romantic gesture, but they can make sense in certain situations. Prenups are designed to determine how assets and debts will be divided in the event of a divorce. Unfortunately, marriage is rarely a straightforward endeavor and divorce can be even messier from a financial standpoint. For states that have community property laws, prenups can be an effective solution. Aside from needing to answer all the other important financial questions before getting married (see 5 Financial Tips for Newlyweds), deciding whether you should get a prenup requires answering another set of questions first.
To Prenup or Not to Prenupby Brian Thompson, Brian Thompson Financial LLC
Wedding season is approaching, and I can’t wait for several unions to take place in the next few months. If you’re getting married, you’ve got a lot on your mind — from guest lists and reception menus to cake flavors and gift registries — but let’s add one more item: the prenuptial agreement or prenup.
Talking Money with Your Partner: Video & Worksheet
Does your partner annoy you sometimes? Well according to a 2015 SunTrust survey, annoying habits are a major cause of relationship stress. 25% of survey respondents said the main cause of their relationship friction was annoying habits. But what came in as the #1 reason for relationship friction? Financial stress. 35% of respondents stated financial stress as the main reason their relationship with their partner was strained. With that in mind, how are you and your partner addressing your money lives?
7 Musts for Money and Marriage
“Are we even on the same page?!”
Almost every couple finds themselves asking each other this question from time to time. Pause. Don’t panic. It may be more concerning if a couple doesn’t butt heads over finances every now and then. The Bible warns us about the love of money in 1 Timothy 6:10 by calling it “the root of all evils.” Therefore, we should expect that sharing finances will take a lot of work in order to keep it from causing significant challenges. These seven tips are important for any couple regardless of whether they are planning to get married, newlywed, or have been married for years: