The best tips that younger couples can learn from to make their life happy and more fruitful.
Know where you stand
A prenuptial agreement may not sound like the most romantic way to kick-off a marriage, but it is very sensible. Sorting out some key issues at the start can provide genuine peace of mind for both parties. It is very necessary to know your partner before taking the plunge and misunderstandings may occur in the future in the case of lack of knowledge about the whereabouts.
Your wedding presents do not have to be confined to toasters, towels and crockery. Each parent can give tax-free marriage cash gifts and so can grand-parent and great grand-parent. You have to make the gift or promise to make it on or shortly before the date of the wedding or civil partnership ceremony. If the ceremony is called off and you still make the gift or if you make the gift after the ceremony without having promised it first and this exemption would not apply.
Home Sweet Home
Whether it is a first-time buyer maisonette or a bit of a palace, it is important that couples are happy with their first purchase in every sense of the word. The couple needs to decide on ownership and for most joint ownership is the only way, but couples can take a different view. For example, what is the worth of separate properties being sold to finance the new pad? Has the property been in the family for some time? Is one partner providing all of the deposit finance? Then there’s the question of a mortgage, and who is paying what.
A Little Insurance
The only certainties in life are death and taxes, so while it may seem a morbid subject it makes good sense to plan. Certainly, couples getting a mortgage and buying a home together need to take out life insurance and particularly when both play dangerous sports like rugby and horse-riding. The amount to be insured is entirely up to the couple concerned, but certainly should cover the mortgage in full and ideally should provide at least 8-10 times income.