This is your house, this is my house… How to keep your property before marriage and after marriage?

Marriage not only connects two humans legally, but also brings them economically. After marriage, it is the responsibility of husband and wife to manage their finance together. In the event of a breakup, some limits should be fixed so that the responsibilities are also distributed properly and the stress is also minimized.

Talk before marriage

When two people get married, the inherited property or business or their personal savings now includes the rights of two people instead of one. In India, prenuptial agreement may not be legally applicable, but now people are adopting it slowly in many big cities.

This is a legal agreement, which is between husband and wife. It mentions that if there is a divorce between the two, then how will the distribution of the reception or liabilities be divided in that situation. In such a situation, you should always keep an account of your savings and inherited property before marriage.

Different bank accounts are important

If you have a property or investment of your own, then it can save you from any future disputes by having your own ownership alone. It is necessary to keep separate bank accounts for the inherited property so that no misunderstanding is created in the coming time. In the marriage relationship, it is very important to have transparency in both. Both should know each other’s savings, income and liabilities. If you manage insurance policies, loans, property together, then it strengthens a mutual relationship.

Financial security of both necessary

There are many benefits of having an ownership of both on the property, such as tax exemption, succession is also available. However, if the investment of either of the two partners is more than the other, then it is also necessary to formalize financial investment. When one of the two leaves a job to raise the child, then a plan to take property and insurance coverage for financial security must also be made.

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