The wedding series: How to avoid money mistakes in marriage
· 26 min · Episode 1033
Episode The wedding series: How to avoid money mistakes in marriage
1033. Host Laura Adams sits down with family law attorney Cari Rincker to unpack the crucial intersection of love, law, and your wallet. Cari reveals why every couple already has a prenuptial agreement (whether they signed one or not) and discusses legal differences between states for divorce. You’ll learn how to protect your assets, open the lines of communication, and build a secure financial future together.
Key Takeaways
• Why your state’s default divorce laws may not be the prenuptial agreement you want in force if you break up. • Start the prenup process at least three months before your wedding to ensure ample time for financial disclosures and any tough conversations. • In states with equitable division (like Illinois and New York), assets are divided in divorce based on factors the courts use to determine what’s “fair.” • In community property states (like California and Arizona), there is a more straightforward split of assets and liabilities than in equitable states. • The laws of the state where you actually file for the dissolution of the marriage are what will apply, not where you got married. • Be sure you have access to your household’s financial records, including tax returns, bank statements, and online account logins. • To save on the steep emotional and financial costs of a divorce or asset negotiation, couples should avoid fighting over minor details and instead focus their energy on their highest-priority issues.
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