Marriage marks a significant milestone in life, blending not only two individuals but also their financial landscape. At Bautis Financial, we understand the importance of preparing financially for this journey together. If you’re planning to tie the knot soon, consider these 29 planning issues – they will help you pave the way for a secure and harmonious future!
This checklist covers a variety of issues you should consider in the following categories:
- Cash Flow Issues: For example, have you and your partner created a joint budget that considers both of your financial obligations and goals?
- Asset and Debt Related Issues: For example, have you and your partner decided how assets acquired before and during the marriage will be owned and managed?
- Insurance Planning Issues: For example, have you and your partner evaluated the health insurance options you have available, and considered either merging or maintaining separate policies?
- Estate Planning Issues: For example, have you and your partner updated beneficiary designations on retirement accounts, life insurance policies, and other assets?
- Tax Planning Issues: For example, have you and your partner determined the most advantageous tax filing status for your situation? Have you explored potential tax deductions and credits available to married couples?
- Retirement Planning Issues: For example, have you and your partner updated your plans to reflect both of your goals and timelines?
- Long-Term Planning Issues: For example, have you and your partner developed an investment strategy that aligns with your long-term financial objectives?
This checklist also covers other issues like prenuptial agreements, custody and support, and healthcare directives.
Start Your Financial Journey Together
Navigating these financial planning issues together can strengthen your relationship and set the stage for a prosperous future. At Bautis Financial, we’re committed to guiding you through these important decisions with expertise and care. We invite you to schedule a complimentary consultation with our team as you embark on this exciting chapter of your life!
Related: Should You Get a Prenup?
