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Home : Planning Your Finances : Planning for Life Events : Getting Married : Credit Issues
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Getting Married
Credit Issues
Money issues can be a source of conflict in relationships of all kinds. For the benefit of your marriage, it's probably a
good idea for both you and your spouse to have a clear understanding of your respective credit histories, and be prepared
for any debt or financial difficulties the other may bring to the relationship. It may also be advisable to discuss your
individual financial management styles and preferences.
Some consideration might be given to whether you and your spouse should maintain separate or joint credit accounts. A
good credit rating can be harmed if it is linked with a lesser one. Joint accounts also incur joint responsibility,
which can be a source of anxiety for some couples, especially those who may be struggling financially.
If one or both partners have substantial assets prior to their marriage, it might be wise to consider a prenuptial
agreement. It can document what each individual brings into the marriage and articulate how these assets will be
divided in the event of separation, divorce, or death.
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Transamerica and its representatives do not give tax or legal advice. The material provided is for informational purposes only and should not be
construed as tax or legal advice. Clients and other interested parties must rely solely upon their own tax and/or legal advisor regarding their particular situation.
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