Financial Partnerships
The Business of Marriage
Marriage and Domestic Partnerships are complex relationships with unique blends of emotional, spiritual, legal, and financial bonds.
There are two types of contracts inherent in marriage and domestic partnership, legal/financial and emotional/spiritual. While there are incalculable overlaps it is possible to separate the two contracts in order to address the fundamental issues of each.
Establishing, sustaining, or terminating these relationships requires extraordinary capacity and skill in order to find satisfying and equitable balance. Emotions often skew personal judgment regarding the financial terms of marriage and divorce. Issues of separate property, wealth accumulation, income capacity, debt, career opportunities, inheritance, marital expectation, and life style are all part of the business of life partnerships.
All couples considering life partnership must take seriously financial compatibility and mutual expectations; never assume there is an understanding unless there is a clearly stated and acknowledged agreement. The agreement can be verbal, is best written, and if necessary a legal contract drawn up by an attorney. Two power tools for entering a life partnership are; a first year financial plan with an emphasis on establishing a strong partnership and prenuptial agreement (when appropriate).
Make a Plan - Make it Work!
