Talking about finances and expectations prior to marriage

On Behalf of | Oct 10, 2016 | Divorce

Many Minnesota couples do not want think about what would happen if they get a divorce before they have even gotten married. However, 45 to 50 percent of first marriages end in divorce. This is why couples who are considering marriage should have discussions about their expectations and financial status before they tie the knot.

While divorce can be caused by infidelity and lack of commitment to the marriage, other reasons include disagreements regarding money and expectations that are not realistic. Resolving the money issues and the unrealistic expectations before marriage may potentially prevent a divorce. For the best results, couples should determine what their separate finances look like, what the monthly budget should be and what savings plan should be put into action. When talking about money, both individuals should discuss any debts that they have, including student loans or debt from credit cards.

Marriage planning should also be taken very seriously. For example, the couple should talk about what they want out of life, whether that includes a life of travel, kids and career goals. If only one person wants children or both individuals have lofty career goals that would not work well together, the marriage could potentially fail due to incompatibility.

Even if a couple works out a plan prior to marriage, financial challenges or general incompatibility could potentially lead to a divorce. If there is debt involved, a family law attorney may help a person avoid being responsible for more of it than is fair. If there are children involved, the attorney may help a client seek primary custody depending on the circumstances.