Why Is Pre-Marriage Mediation Important?
While not on the top of your mind when preparing for a marriage, a pre-marital financial agreement is a task that should be added to the marital to-do list.
Many couples struggle with having this uncomfortable conversation. It’s better to cross this road now than later!
When you work with a collaborative mediator, this uncomfortable conversation can be viewed more positively because it allows the couple to work together to come up with a financial agreement that is fair to both of them.
The pre-marriage mediation process is important to complete prior to marriage because:
- it fosters transparency from each person
- it outlines how pre-marital debt is handled
- partners can tease out who will most likely be the spender and who will be the saver
- it determines who will handle the checkbook and bill payments
- it sets up mutually agreeable financial goals
- if one of you is paying alimony or child support from a previous marriage, you will want to know how it will affect the combined financial landscape
- it reveals each other’s credit score reports
- it gives an opportunity to discuss how each other’s careers will impact the family unit
- it provides understanding of how large pre-marital cash or properties will be handled
Mapping out a financial plan ahead of time is priceless because a couple has a better understanding of their financial landscape and how it would be dealt with in the future.
Peace Talk mediators are an excellent team of moderators. They are dedicated to the practice of mediation as the preferred method of resolving disputes.
Our divorce mediators work with both of you to explore options, get the information you need to make the right decisions and reach your own agreements, keeping each of you in control over your financial futures.
Note: This information is general and should not be construed as legal/financial/tax advice. You should work with your attorney, financial, or tax professional to determine what will work best for your situation.