Premarital Financial Planning
gives you many ways to win big money.
Let’s get practical for a couple of minutes to plan how you will manage your money when you get married. Suspend the romance and chemistry for a moment to look into your financial future together.
Most couples have a goal to keep the merger of their two lives peaceful, growing, and financially secure.
If you are on our website, you know we have decades of experience with divorce. Premarital financial planning and prenuptial agreements are two basic divorce prevention tools.
Joint goals are a critical first step. Each of us has a large number of unique personal and business goals. Our goal screening list has over 25 for each group. You will fight about money. So set some money ground rules using the financial planning process. Sharing each person’s goals will build a marriage with a difference.
When you want to formalize your financial management process, that’s when to investigate a prenuptial agreement. You will want an experienced lawyer and an experienced financial consultant (like us).
Prenuptials are about the money, your assets and debt, before you marry. Most will also have a goal of keeping premarital property separate. The problem is preventing mixing premarital with marital money. The blending can cause the loss of the premarital protected status and control.
Yes, it gets tricky, but we have set procedures to guard against problems.
We use a 16-page prenuptial financial planning data gathering form and a 21-page prenuptial agreement financial checklist. Prenupts have more moving parts than a helicopter. And, prenuptials like helicopters want to crash and burn when anything goes wrong.
If you own a business, you have many more goals to deal with; and then you must coordinate them with your personal goals.
Premarital Financial Planning Goals
- Foster smart financial communications.
- Promote long-term goal achievement.
- Prevent bad economic surprises.
- Reduce and avoid divorcing and fighting over money.
You will come up with more specifically defined goals and guidelines. These four goals give your premarital financial planning a framework for perspective.
You receive 7 great benefits from premarital financial planning
- Learn how likely you are to reach your goals for your money.
- Discover ways to get more out of your money.
- Identify the risks to your financial goals.
- Increase your confidence that your financial goals to will build your wealth.
- Know if your spending habits will allow you to meet your financial goals.
- Uncover the money mistakes you are making now.
- Understand how you will live comfortably within your financial resources.
Your financial planning drill-down steps starts with these seven. Try searching for a personal financial planning inventory to gather personal information. Next, go to our Personal Planning Resources page to research topics.
When you wear out the self-help options contact us. We will talk over your list of what you have done and give you a complimentary Best Next-StepSM suggestion.
Contact us, you are welcome to ask anything for free.