CHILD MARRIAGE PLANNING

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Child Marriage Planning

Marriage affects your finances in many ways, including your ability to build wealth, plan for retirement, plan your estate, and capitalize on tax and insurance-related benefits. State and federal laws on these subjects provide default positions. Some of these baseline conditions can be modified by a prenuptial agreement, a contract that permits a couple to keep their finances separate, protect each other from debt, and take other actions that could limit the rights of either partner.

If you and your partner have different goals, you’ll need to prioritize what’s important. Not sure what you should be striving for (or how to get there)? Consider hiring a financial planner to analyze your finances and help you put together a plan.

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One important priority for any couple should be an emergency savings plan. Every marriage has its share of ups and downs, and an emergency fund can help you weather times of financial struggle. Paying down debt and saving for retirement are two other priorities that will convey long-term benefits.