Getting married and planning a wedding can be an extremely exciting time for couples who are ready to take the next step in their relationship. While there may be various exciting things to talk about and plan for (like, for instance, a honeymoon or a new home), one thing that couples should NOT overlook is the discussion about their finances, how or if they will merge their finances and what the financial responsibilities will look like during the marriage.
This can be a stressful topic for many people, but addressing these issues and concerns upfront will be critical to:
- Setting clear expectations of financial responsibilities
- Not adding extra stress to the new marriage
- Establishing an open line of communication about finances from the get go.
In this three-part blog, we will point out a handful for important questions that should come up when you sit down to discuss money matters with your future spouse. Taking the time to discuss these financial issues will be one of the keys to setting up your marriage for success and longevity.
Financial Questions to Ask Your Future Spouse…
Q1: What debt do you currently carry?
Although this may be a sensitive topic, the fact is that a person’s debt situation can be an important indicator of:
- How financially responsible that person is
- How much money a person will have available to be able to support a household, marriage and potentially even a family (if a couple is seriously considering starting a family in the near future).
While debt like student loans and car loans can be common financial responsibilities that people may have, you may want to be careful about immediately jumping into a marriage with a person who may have racked up thousands of dollars in debt in credit card debt. This can be an indication of reckless spending habits, and after marrying such a person, you could be on the hook for repaying such debt.
Don’t miss the upcoming second and third installments of this blog for our continued discussion regarding important money matters to discuss with a future spouse.
Colorado Bankruptcy Lawyers at the Law Office of Jon B. Clarke, P.C.
If you are overwhelmed by seemingly insurmountable debt and are looking for a financial fresh start, contact the trusted Colorado debt relief and bankruptcy lawyers at the Law Office of Jon B. Clarke, P.C.
For more than 35 years, Mr. Clarke and his diligent support staff have been successfully helping our clients resolve even the most complex bankruptcy cases for both individuals and businesses alike. Our experienced legal professionals are committed to providing each of our clients with the personalized debt relief assistance they need, and we will work tirelessly to ensure that our clients’ cases are resolved as favorably and efficiently as possible.
Contact Us Today
For a thorough assessment of your situation, along with expert advice regarding the best manner in which to move forward to unburden yourself from debt, call us at (866) 916-3950 or email us some details about your situation by clicking here.