When it comes to financial planning, marriage is like any other major life event, and it should be handled with the same level of orderliness and responsibility. Here is pre-wedding financial checklist to consider:
* Decide on a marital regime. Choose a marital regime that is suited to you and your spouse, after understanding the three available options.
If you’re married in community of property, your assets are combined in a joint estate. Getting married out of community of property means that all the assets are kept completely separate throughout the marriage.
With marriage out of community of property with accrual, what each of you came in with remains separate, and only the assets accumulated during the marriage are shared. This third route tends to be popular, as it is widely viewed as being the “fairest” option.