================================================================ LAVENDER MARRIAGE — FINANCIAL PLANNING WORKSHEET ================================================================ 2lavenders.com | For personal use only This worksheet is not financial or legal advice. Consult a qualified financial adviser and solicitor/attorney for your specific situation. ================================================================ Work through this worksheet with your partner before and after formalising your arrangement. Revisit annually or when circumstances change significantly. ---------------------------------------------------------------- PART 1 — INDIVIDUAL FINANCIAL SNAPSHOT ---------------------------------------------------------------- Complete separately, then share with each other. PARTNER A Annual income (gross): ________________ Annual income (net/take-home): ________________ Monthly essential expenses: ________________ Existing debts: ________________ Savings / investments: ________________ Property owned: ________________ Credit score (approx.): ________________ Monthly discretionary spending: ________________ PARTNER B Annual income (gross): ________________ Annual income (net/take-home): ________________ Monthly essential expenses: ________________ Existing debts: ________________ Savings / investments: ________________ Property owned: ________________ Credit score (approx.): ________________ Monthly discretionary spending: ________________ ---------------------------------------------------------------- PART 2 — SHARED MONTHLY EXPENSES ---------------------------------------------------------------- List all expected shared costs and how they will be split. Expense Monthly Cost Split Method Notes ───────────────── ──────────── ──────────── ───── Rent / mortgage ____________ ____________ _____ Utilities ____________ ____________ _____ Internet / phone ____________ ____________ _____ Groceries ____________ ____________ _____ Transport ____________ ____________ _____ Insurance (home) ____________ ____________ _____ Insurance (health) ____________ ____________ _____ Subscriptions ____________ ____________ _____ Childcare ____________ ____________ _____ Other: __________ ____________ ____________ _____ Other: __________ ____________ ____________ _____ TOTAL SHARED ____________ Split method key: 50/50 = Equal split PRO = Proportional to income A = Partner A pays B = Partner B pays ALT = Alternating / rotating ---------------------------------------------------------------- PART 3 — BANKING STRUCTURE ---------------------------------------------------------------- 3.1 Separate accounts only? □ Yes — all personal finances remain independent □ No — see below 3.2 Joint account for shared expenses? □ Yes Agreed monthly contribution from each partner: Partner A: ____________ Partner B: ____________ 3.3 Emergency fund: will you maintain a shared fund? □ Yes — target amount: ____________ □ No — individual responsibility 3.4 Who has access to joint accounts (if any)? □ Both partners equally □ Primary account holder: ____________ Notes: ___________________________________________________ ---------------------------------------------------------------- PART 4 — MAJOR PURCHASES & PROPERTY ---------------------------------------------------------------- 4.1 How will major shared purchases be decided? (mutual agreement required / one partner decides / threshold amount: ____________) [Notes] 4.2 If you buy property together: □ Joint tenancy (equal ownership, survivorship) □ Tenants in common — Partner A: ___% / Partner B: ___% □ One partner owns, other pays rent □ We will not buy property together 4.3 Vehicle(s): shared, separate, or one partner's? [Notes] 4.4 If the arrangement ends, how will jointly owned property be divided? □ Sold and proceeds split ___% / ___% □ One partner buys out the other (at market value) □ Other: ____________ [Notes] ---------------------------------------------------------------- PART 5 — TAXES ---------------------------------------------------------------- 5.1 Filing status (consult a tax adviser): □ Married filing jointly □ Married filing separately □ Undecided — will consult adviser 5.2 Will marriage change either partner's tax liability? Have you modelled this? □ Yes — outcome: ____________ □ No — plan to review by: ____________ 5.3 Benefits or credits affected by marital status: [Notes] ---------------------------------------------------------------- PART 6 — ESTATE PLANNING ---------------------------------------------------------------- 6.1 Wills: does each partner have one? Partner A: □ Yes □ No — plan to create by: ____________ Partner B: □ Yes □ No — plan to create by: ____________ 6.2 Who are the beneficiaries in each partner's will? Will the arrangement change these designations? [Notes] 6.3 Power of Attorney (financial): who holds this? Partner A's POA: ____________ Partner B's POA: ____________ 6.4 Healthcare directive / living will: in place? Partner A: □ Yes □ No Partner B: □ Yes □ No 6.5 Life insurance: does either partner hold a policy? Will beneficiary designations change? [Notes] 6.6 Pension / retirement accounts: who are the named beneficiaries? Will these change? [Notes] ---------------------------------------------------------------- PART 7 — IF THE ARRANGEMENT ENDS (FINANCIAL UNWINDING) ---------------------------------------------------------------- 7.1 How will shared savings be divided? □ 50/50 □ Proportional to contributions □ Other: ____________ 7.2 How will shared debts be divided? □ Each partner assumes the debts they incurred □ Joint debts split: ___% / ___% □ Other: ____________ 7.3 Will there be any ongoing financial support between partners after separation? □ No □ Yes — amount: ____________ / Duration: ____________ 7.4 Timeline for completing financial separation: ____________ months from separation date ---------------------------------------------------------------- REVIEW LOG ---------------------------------------------------------------- Date reviewed: ____________ Changes made: __________________ Date reviewed: ____________ Changes made: __________________ Date reviewed: ____________ Changes made: __________________ ================================================================ 2lavenders.com — Not financial or legal advice. For personal use only. ================================================================