When a relationship is going well in California, it is actually the ideal time to discuss the one thing that breaks up a large percentage of marriages today — finances. When two single individuals are in love, they’re naturally more open to each other’s viewpoints and wishes. Talking about money is paramount both before and during marriage because differences in how two people spend money can weigh on a marital union, thus potentially causing divorce.
One 2009 study found that two married people who argue about their finances once each week had a 30 percent higher chance of getting divorced than did those who fought about money only occasionally each month. Those who can discuss money matters in an amicable way before problems arise are more likely to prevent disagreements that can lead to divorce. It’s best if this discussion is comprehensive, meaning that both people are willing to unveil both their strengths and their weaknesses when it comes to their finances.
When discussing finances specifically before getting married, it may be helpful to negotiate a prenuptial agreement as well. A prenup is a formal written agreement regarding how the couple wishes to divvy up their assets if they realize they can no longer stay married. Although some people view prenups as being necessary only for those who are famous and rich, they can actually help people of all backgrounds. These agreements may be particularly helpful if the two individuals have vastly different incomes or if one person grew up in a home that was broken and finds the idea of marriage to be overwhelming.
If two divorcing individuals never did put together a prenup, they can still try to find common ground at the negotiating table when discussing asset and property division. They both have the right to voice their wishes and fight for what they believe they’re entitled to in the divorce. Sometimes, it’s impossible for the two to agree, and in those instances, they may have to let a California judge settle the outstanding issues once and for all.
Source: marketplace.org, “Marriage and money: Tips before you walk down the aisle”, Candace Manriquez, June 13, 2014