Doctor Dinero

OYE MAGAZINE
DOCTOR DINERO: UNPLEASANT, BUT NECESSARY

It is a known fact that more than 50% of marriages end up in divorce. It is also a recognized fact that a major reason for divorce is financial stress. Besides being your Doctor Dinero, I am also a Certified Divorce Planner and I have had much experience in this matter. When it comes down to divorce, it doesn’t matter who did what; it ends up being all about money. Nothing more, nothing less. So before you get married, you better do what Doctor Dinero tells you to do, otherwise you are going to end up in a lot of financial pain.

4 Things to Do Before You Say, "I Do."

1. Get a credit report from your soon-to-be spouse.
You better know the financial situation of your soon-to-be significant other, or what I love to call your soon-to-be financial partner. Does she have terrible credit? Is she in debt up to her neck? Does she have terrible spending habits? You better know now. There is only one way to do that and that is by getting her to give you a copy of a recent credit report. A credit report can be obtained over the Internet for a minimal cost. A credit report is her financial reputation. If you don’t find out that she has bad credit, you will find out when you make your first major purchase together, like buying a house. It may then be too late.

2. Find out how you are going to handle the finances.
You need to discuss how you are going to handle the finances. Are you going to keep separate accounts? Are you going to merge everything into joint accounts? You just can’t assume. You better ask her what she plans to do. I can’t tell you how many fights I have seen in my office over this issue. Are you going to change the beneficiary on all your bank, investment and life insurance accounts to your new spouse or are they going to remain the same. You need to discuss this.

3. Find out who is going to handle the finances.
Typically in a new marriage one person ends up handling most of the finances, like paying the bills, going to the bank and making the deposits, and reconciling the bank statements every month. You better know in advance who is going to do this. If your future wife says that she is going to do it and she loves to spend money, you are going to be in a world of hurt. You definitely need to discuss this. Ideally, one of you should handle the day to day finances and both of you should make major financial decisions together. But if you let her handle the day-to-day stuff, you still better keep an eye on the money.

4. Get a prenuptial agreement if you are already coming into this marriage with money and property.
Remember that in a lot of states, one half of the wealth you accumulate during marriage belongs to your wife—whether you like it or not. If you had accumulated investments and property before the marriage and don’t want to entangle it in the new marriage, you need to keep that completely separate from your current finances. You will also need to get a prenuptial agreement prepared by an attorney and signed before you get married. Remember to see an attorney who is a specialist in pre-nups, not your compadre that handles DUI’s.

It’s a shame, but marriages that end in divorce end up becoming little more than business transactions. This is the sad truth, yet you can avoid a lot of future pain by following the above prescription.

Finally, I can’t tell you how many Latinas tell me that they read this column, so don’t get upset if it sounds like I’m siding with men. The fact is, women need to heed this advice just as much men.

OPEN YOUR EYES MAGAZINE
THE HOTTEST LATINO MAGAZINE IN AMERICA!

© 2004 Tlahtoani Media Group, LLC
The Latin Magazine featuring hot Latinas, beautiful Latinas, Latina models, Latin girls, Latin women, Latin models




OYE MAGAZINE	DOCTOR DINERO: UNPLEASANT, BUT NECESSARY
		It is a known fact that more than 50% of marriages end up in divorce. It is also a recognized fact that a major reason for divorce is financial stress. Besides being your Doctor Dinero, I am also a Certified Divorce Planner and I have had much experience in this matter. When it comes down to divorce, it doesn’t matter who did what; it ends up being all about money. Nothing more, nothing less. So before you get married, you better do what Doctor Dinero tells you to do, otherwise you are going to end up in a lot of financial pain.

	4 Things to Do Before You Say, "I Do." 1. Get a credit report from your soon-to-be spouse. You better know the financial situation of your soon-to-be significant other, or what I love to call your soon-to-be financial partner. Does she have terrible credit? Is she in debt up to her neck? Does she have terrible spending habits? You better know now. There is only one way to do that and that is by getting her to give you a copy of a recent credit report. A credit report can be obtained over the Internet for a minimal cost. A credit report is her financial reputation. If you don’t find out that she has bad credit, you will find out when you make your first major purchase together, like buying a house. It may then be too late. 2. Find out how you are going to handle the finances. You need to discuss how you are going to handle the finances. Are you going to keep separate accounts? Are you going to merge everything into joint accounts? You just can’t assume. You better ask her what she plans to do. I can’t tell you how many fights I have seen in my office over this issue. Are you going to change the beneficiary on all your bank, investment and life insurance accounts to your new spouse or are they going to remain the same. You need to discuss this. 3. Find out who is going to handle the finances. Typically in a new marriage one person ends up handling most of the finances, like paying the bills, going to the bank and making the deposits, and reconciling the bank statements every month. You better know in advance who is going to do this. If your future wife says that she is going to do it and she loves to spend money, you are going to be in a world of hurt. You definitely need to discuss this. Ideally, one of you should handle the day to day finances and both of you should make major financial decisions together. But if you let her handle the day-to-day stuff, you still better keep an eye on the money. 4. Get a prenuptial agreement if you are already coming into this marriage with money and property. Remember that in a lot of states, one half of the wealth you accumulate during marriage belongs to your wife—whether you like it or not. If you had accumulated investments and property before the marriage and don’t want to entangle it in the new marriage, you need to keep that completely separate from your current finances. You will also need to get a prenuptial agreement prepared by an attorney and signed before you get married. Remember to see an attorney who is a specialist in pre-nups, not your compadre that handles DUI’s. It’s a shame, but marriages that end in divorce end up becoming little more than business transactions. This is the sad truth, yet you can avoid a lot of future pain by following the above prescription. Finally, I can’t tell you how many Latinas tell me that they read this column, so don’t get upset if it sounds like I’m siding with men. The fact is, women need to heed this advice just as much men.
OPEN YOUR EYES MAGAZINE THE HOTTEST LATINO MAGAZINE IN AMERICA! © 2004 Tlahtoani Media Group, LLC The Latin Magazine featuring hot Latinas, beautiful Latinas, Latina models, Latin girls, Latin women, Latin models