Good Lifestyle

For most healthy relationships, as the relationship develops, the things you share. Shared interests are transformed into shared ambitions and possibly a shared address. He also arrives in each relationship where Personal finances Enter the equation, and this can add an entirely new dimension to coupling. But although two relationships are exactly the same, there are still a few things to consider before taking a tax pace. Read the rest for the reasons you should not get a joint bank account with your partner, according to experts.

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Although the rules concerning certain aspects of personal finances such as federal income tax are the same nationally, others may depend on your state. This is particularly true for places with Community goods laws in place, which stipulates that all the assets and debts acquired as a married couple also belong by the two spouses, according to Forbes .

Of course, it becomes a serious consideration if you are very anxious to keep your personal earnings, especially those transmitted. AE0FCC31AE342FD3A1346EBB1F342FCB

"For a state of community ownership, a reason to maintain separate accounts is based on species or hereditary goods of a member on your side of the family," explains Jeffrey Stouffer , a certified financial planner and expert in finance With Justanswer. "This can be marked as a" separate property "and prevent this from becoming a community property."

Maintaining individual accounts can help protect your assets. "This allows the passage of your property to whom you can see without any interference," he adds.

Getting to know the little things about each other is one of each relationship that develops over time. But before committing to merge your finances, it is best to make sure that you are on the same wavelength with your significant other.

"If you do not know how often they pay invoices - or if they have certain things in the collections, I would not recommend it," Nadia C. Vanderhall , an expert in personal finance and founder of The brands' strategy group + groups , recount Better life . "One person could be a saver, while the other likes to spend. They could be bad with money, and you might think that it is an excellent idea until this is not the case."

Problems can also go beyond spending habits. "In situations where your partner has debt obligations or mediocre credit history, having a joint account may affect your ability to obtain a loan," said Lyle Salomon , an expert in consumer finance and principal lawyer at Oak View law group .

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Although community ownership states have set up couples to uniformly divided assets accumulated during a marriage, this is not the only time when the location can affect shared finances. The States of Ownership of Communities take the opposite position, determining that the property belongs to a individual spouse Unless it is specifically put in their two names, according to Investopedia.

Naturally, this creates a different set of reasons to keep separate bank accounts.

"In a common law state, not having a joint account gives the partner a certain level of legal shield, especially if a business or a business belongs to one of the members of the couple," explains Stouffer. "Any dispute involving this entity will remain with this entity, because the joint accounts will break this barrier, and an innocent partner can be introduced into the situation."

Whatever the health of a relationship, disagreements can emerge on little and important things over time. According to experts, the finance mixture could create an entirely new set of problems for a couple to manage, in some cases.

"Excessive expenses by a spouse can lead to a defect in defect on fixed monthly expenses, which leads to a delay in payment of public services, mortgage or rents, causing delay costs if spending is not monitored and resulting in resentment, "said Annette Harris , founder of Harris Financial Coaching . "In addition, if one spouse earns more than the other, excessive expenses may seem to be an unfair distribution of wealth and lead to additional frustration and desire."

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Deciding to combine funds with your significant other can occur at different points for each couple. And even if you have not legally married to your partner, to determine who obtains what in the event of a rupture can still be made very difficult by having such an arrangement.

"If your relationship becomes bitter, not only will the amount in a joint account be difficult to separate, but a partner can even close the account without the consent of the other," warns Solomon. "In such a scenario, you may not end up with little or nothing."

Best Life offers the most up -to -date financial information for high -level experts and latest news and research, but our content is not supposed to replace professional advice. Regarding the money you spend, save or invest, always consult your financial advisor directly.