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The importance of financial honesty before marriage

One of the biggest factors that contribute to Texas divorces is arguments about money. It is important for people to have honest discussions with each other about finances and debt before they decide to marry. Doing so may help to minimize the risk of divorce later on.

Arguments about money top the list of factors that lead to divorces. Forty-one percent of first marriages end in divorce, and the risk increases with each subsequent marriage. It is important to be honest in discussions before marriage. People can learn about whether or not they are truly compatible or if they instead have widely divergent spending habits that could lead to conflict and divorce.

People should tell their fiances about any prior marriages as well as whether they are legally divorced. They might also want to consider whether or not they want to draft and sign prenuptial agreements and talk about their career goals. Determining the savings plan and monthly budget is also important. People might also detail the property and assets that they own as well as any inheritances they expect to receive. Determining the insurance that will be needed and how the taxes will be prepared following the marriage may also help to prevent conflict.

People who go through high-asset divorces may protect their property more easily if they have prenuptial agreements in place. A family law attorney may help a client in this regard. If the marriage then later ends, the agreement may help the client to hold on to certain assets that might otherwise be divided in the divorce. It might also help the property division process to go more smoothly at the end of a marriage.

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