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For Better or Worse

Your Lives May Be Intertwined, But Should Your Finances?

As some of Marietta's finest lawyers and family law attorneys, Gentry Law Firm has handled hundreds of money mishaps. They’re firm in their belief that financial transparency and planning are fundamental in a successful marriage—and they have the evidence to back it up.
As owner William C. (Bill) Gentry puts it, "Marriage isn’t just a huge personal commitment. It’s also one of the biggest financial commitments that most people make in their lives. When you marry someone, you agree to take on their debts, credit scores, and entire financial history. It gives a whole new meaning to the phrase 'for better or for worse.'
Bill and the rest of the team at Gentry Law offer the following tips to set you and your partner on the path to success and equip you to weather any financial storm.
Communicate
Don’t be afraid to discuss money – and do it often. Make sure you and your partner have a clear understanding of your financial expectations and goals for the future. This prevents issues from going unresolved and makes conflict much more manageable when it inevitably arises.
"There’s no catch-all, secret sauce solution to how to split your finances or budget appropriately; there’s just what works best for YOU," Bill explains.
When addressing topics like how you'll handle expenses or combine bank accounts, Bill stresses the importance of recognizing each partner's in-kind contributions as well. If one partner has more household responsibility or takes care of the kids, that should be factored into decisions.
Don't Fear a Pre-Nup
"While many people don’t like the idea of a prenuptial agreement, they can be some of the simplest ways to protect yourself financially in a long-term romantic relationship," says Bill. "Full disclosure, candid discussions, and trusted advisors are the best ingredients for success. Even if you’re not planning on getting married, agreeing on issues like joint ownership of a house is extremely prudent."
Consult a Professional
Life happens. Whether you’re looking to plan for the future before stepping into marriage or you’re navigating the relationship hardships that can arise from a lack of financial planning, don't hesitate to seek help. Some stresses may require a lawyer, and that's where Gentry Law Firm steps in. They have successfully guided hundreds of clients and their families through legal matters. A recent customer offered a glowing testimonial of their experience: “[Our paralegal’s] tenacity in combination with Mr. Gentry was a perfect match to tackle the grueling process and justice system. [They] still check in on us to see how we are doing, and you just do not find that level of concern or care anywhere once the bill is paid. These folks truly are the best."
When it comes to money and marriage, the right solution looks different for everyone. Consult with a lawyer and get to know your options at gentrylawfirmgeorgia.com.