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BRIDES (special section) Money Issues

NEWPORT BEACH, CALIF. (AP) -- Love and passion propel the couple to the altar,

but they don't pay the rent.

"Marriage is a business relationship as well as a love relationship," says

Violet Woodhouse, author, attorney and financial advisor. "Although marriage

can be romantic, it is not about romance. It is a partnership, and finances

are an important part of the equation.

"Unfortunately, most couples avoid talking about money -- a critical and

potentially explosive mistake when you consider money is one of the most

commonly known problems in relationships."

It may not be a romantic exercise to exchange financial information before

exchanging vows, but it can save a lot of grief later on, she suggests. Ms

Woodhouse recommends exchanging tax returns, check registers, financial

statements, pay stubs and similar items for the past three years. Also get and

exchange credit reports; when you marry you'll inherit your spouse's credit

history.

Next, compare expenses, previous income tax obligations and liabilities,

credit card debts, student, car or other loans and any other monetary

obligations.

Then, compare employment benefits, including retirement plans and health

insurance.

Ms Woodhouse recommends the couple develop and commit to a budget plan to set

the stage for the financial side of marriage. Hold "money meetings" to plan

strategy, set personal and financial goals and agree to the sacrifices each

will assume to meet those goals. You will also need to set up your financial

partnership arrangement for sharing or dividing financial responsibility.

These plans will take into account lifestyle choices, personal needs, savings

and spending habits, credit card use and whether to maintain separate or joint

checking accounts. You should agree on a savings plan and how much to set

aside for a home, car, taxes, and other big-ticket items.

If you're marrying for the second time, you have a different set of money

issues, Ms Woodhouse says. Those who remarry are usually older and have spent

years building financial assets, she observes. "It's natural to want to

protect what you've worked so hard to build."

Children from previous marriages and other financial obligations also have to

be considered.

Ms Woodhouse recommends prenuptial agreements.

"A prenuptial agreement is a means of communication. The document, although

not legally enforceable, forces people to make decisions while their ability

to give and take is at its highest."

A "prenup" should be considered if one spouse is wealthier than the other; if

one gives up income for marriage (spousal support, pension, social security,

retirement benefits); to head off the possibility of future claims of one

against the other; to protect the children.

The agreement can cover everything from real estate to stock holdings

(including designation of a portfolio manager); it also can address issues

such as how children will be cared for, who will be responsible for their

upbringing, who will work outside the home.

Those in second or later marriages need to look at their debts, assets, what

each person owns or owes and analyze the estates and sources of income for

each. Financial protection of the children or stepchildren needs to be taken

into account -- establishing trusts, wills, custodial accounts, insurance,

outright gifts, and so on.