Financial Matters Before Marriage


Various factors can lead to the demise of a North Carolina marriage, but financial infidelity can create problems that linger long after a marriage ends. Failing to establish solid principles at the outset can lead to long-term credit problems and the loss of important assets through the property division stage of divorce proceedings. Although some think of prenuptial agreements as negative, they can prove helpful if there is a collaborative approach to creating them.

Carrying debt into a marriage can lead to challenges or bad attitudes as mutual resources are absorbed in an effort to pay off balances. By detailing these obligations before marrying, a couple can come to an agreement over how such accounts will be handled going forward. In some cases, a marriage might even be postponed so that it can begin on a more stable financial footing.

A careful review of assets may be helpful so that prospective spouses can protect those that affect other individuals. For some, children of a prior marriage might have an interest in an asset. In other cases, one’s business partners could be affected if a marriage dissolves due to the potential for an ex-spouse to receive an interest in the company by way of a divorce settlement.

While many couples use budgets to guide their spending habits, a prenup can set the stage for successful budgeting, delineating plans for saving and spending. By committing to being honest about resources, a couple may prevent some of the battles that can undermine their relationship.

Although a prenuptial agreement is an excellent tool for those who want to solidify their plans as a marriage begins, some individuals might use this tool as a means of manipulating the other party. To avoid problems in the future, it is advisable for each party to obtain separate legal representation to review a proposed agreement before it is signed.