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Issues to discuss before Marraige


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Some items you should consider before getting married.

Published in: Economy & Finance, Business
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Issues to discuss before Marraige

  1. 1. Marriage: How to Achieve Your Financial Goals
  2. 2. Are You Financially Compatible? <ul><li>Signed a pre-nuptial? </li></ul><ul><li>Know about personal finance? </li></ul><ul><li>Discuss money regularly? </li></ul>
  3. 3. Are You Financially Compatible? <ul><li>Discussed financial goals? </li></ul><ul><li>Who will handle money management? </li></ul><ul><li>Know partner’s money personality? </li></ul>
  4. 4. Are You Financially Compatible? <ul><li>Checked risk tolerance? </li></ul><ul><li>Know how marriage affects taxes? </li></ul><ul><li>Determined joint debt? </li></ul>
  5. 5. Are You Financially Compatible? <ul><li>Can you trim expenses? </li></ul><ul><li>Will you pay yourself first? </li></ul><ul><li>Established an emergency fund? </li></ul>
  6. 6. Creating a Budget <ul><li>Use personal finance software </li></ul><ul><li>List sources of income </li></ul><ul><li>Identify major expenses </li></ul><ul><ul><li>Record every expenditure </li></ul></ul><ul><ul><li>Cut back where necessary </li></ul></ul><ul><li>Monitor regularly </li></ul>
  7. 7. Protect Yourself with Insurance <ul><li>Life insurance </li></ul><ul><li>- Term or Whole Life?? </li></ul>
  8. 8. Protect Yourself with Insurance <ul><li>Disability insurance </li></ul><ul><ul><li>Deducted by state? </li></ul></ul><ul><ul><li>Offered by employer? </li></ul></ul><ul><ul><li>Purchase on own? </li></ul></ul>
  9. 9. Protect Yourself with Insurance <ul><li>Health insurance </li></ul><ul><li>Auto insurance </li></ul><ul><li>Homeowner’s or Renter’s insurance </li></ul>
  10. 10. Distributing Your Estate <ul><li>Write a will </li></ul><ul><ul><li>Determine who will get what assets </li></ul></ul><ul><ul><li>Name guardian </li></ul></ul><ul><li>Check estate-tax exemption </li></ul>
  11. 11. Distributing Your Estate <ul><li>Make annual gifts </li></ul><ul><li>Select an executor </li></ul><ul><li>Provide guide to important documents </li></ul>
  12. 12. Distributing Your Estate <ul><li>Draft a living will </li></ul><ul><ul><li>State acceptable medical procedures </li></ul></ul><ul><ul><li>Appoint healthcare proxy </li></ul></ul><ul><li>Draw up power of attorney </li></ul>
  13. 13. Rapacki + Co. P.A Contact us for more help on this topic. We have resources in this area if we can’t handle it ourselves. Call 888-RAPACKI