![]() ![]() That means if your partner pays a joint account late, your credit will suffer, too. Plus, you need to decide which people you want to. ![]() But there’s a whole lot more to think about, like figuring out what type of will you need or if you need a trust. Your will is a big part of estate planning. However, any new joint obligations will show up on both reports, including mortgages, car loans, and joint bills such as utility bills. Estate planning is just a fancy legal-ish word for what you want to happen to your money and your stuff if you die or become disabled. If your spouse has unfavorable information on his or her credit report, it won't affect your score. Credit history: Coming into the marriage, you each have separate credit reports and scores, which remain separate.Speak with a tax specialist to determine the right course forward. Your income tax rate may also change as a result of your marital status-you could face a higher or lower rate depending on your combined total income. ![]() If you file as “married filing separately,” you could be ineligible for certain income tax deductions.
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