You’ve selected the perfect gown and deliberated over your wedding colors. The reception venue is booked, and the flowers are ordered. The countdown is on to the big day, and all you have to do is make sure everything comes together perfectly, right?

Wrong. If you’re like many couples who have not yet discussed the legal and financial considerations of your impending nuptials, then it’s time to sit down and ask the tough questions about money management, power of attorney, living wills, prenuptial agreements, financial savings and budgeting.

Here’s some practical advice for the top issues facing many newlyweds (and some couples who have been together for years).

Discuss Financial Compatibility Prior to Marriage
Newlyweds Clinton Smith and Sally Ann Seibert Smith learned about financial planning during premarital-counseling sessions before their June wedding. The couple discussed the value that each places on a variety of common expenses, such as vacations, housing, shopping, entertainment and dining out. “We’re pretty similar in the judgments we make in terms of spending money for what and when,” says Sally Ann. “We check with each other before spending over $75.” The couple also keeps a close watch on their entertainment expenses, which, they say, can get costly thanks to their love of concertgoing.

“Money issues are a constant theme in divorce cases,” says Craig Sampson, a domestic-relations attorney with Barnes & Diehl, a law firm devoted to domestic relations. “No matter how in love you are, if you have financial-incompatibility issues, it permeates throughout the marriage.” Talking about finances before your wedding can help to alleviate some of the money-related stress while establishing expectations for each other.

Work Together Toward Financial Goals
When it comes to managing ongoing money matters, “a best practice is definitely keeping family finances a team effort,” says Holly Stallworth, a financial advisor with First Market Bank. “Keeping the financial dialogue going, with each other and with your banker, will help ensure that you are on the same page and that you are working together to create a plan that will help you meet your financial goals.”

Often, those financial goals include getting out of debt. H. William Kuehl, chairman of the financial-advising firm Kuehl, Shepherd and Kozlowski, says newlyweds “need to determine the debt that each one has [coming into the marriage]. They need a plan to extinguish that debt and keep from going into more debt.” Kuehl suggests giving each other a check (like a paycheck) once a week with a list of the things that each spouse has the responsibility to pay for, such as housing, food and entertainment. That way, each of you spends only in cash. “There’s motivation there to see what they can save,” says Kuehl. “They might clip a coupon or not run to the store at the drop of a hat if they can save money on gasoline.”

Another way to manage finances is to keep a budget in a spreadsheet. In order to help them afford their first home, the Smiths have been regularly checking their budget and financial plan. For that home, they already know that they want to spend 40 percent of their overall income on the house itself, including their mortgage payments, insurance, taxes and utilities.

Discuss Wills
Since many couples don’t have substantial assets before getting married, wills aren’t the norm before a couple walks down the aisle, says David G. DeFazio, an attorney with Barnes & Diehl. However, after marriage, it’s time to discuss what might happen if one of you becomes incapacitated. “If something were to happen to your spouse, the doctor and the hospital will be asking you some tough questions,” says. “Does he or she want to be an organ donor? Does he or she want to be kept alive by artificial means? The best way to ensure that each of your wishes is met is to have an advanced medical directive executed.” Such a document is often referred to as a “living will.”

But, DeFazio warns, having the documents “can be worthless if your spouse does not know they exist or if your spouse does not know your wishes.” Therefore, do not be afraid to talk to each other about these important issues, including life insurance.

Consider a Prenup
What happens if one party already has a home or considerable assets before the marriage? An attorney would likely advise the couple to sign a prenuptial agreement. “The primary consideration when contemplating the legal effects of marriage is what your situation is like before marriage,” DeFazio. “If you are young and recently out of school, the things that you need to consider are radically different from someone who has been married before or has children from a previous relationship or an outstanding obligation from a prior divorce.”

While all couples should at least consider signing a prenuptial agreement, some avoid it, often because they don’t like to think about the possibility of divorce or because they are reluctant to mention the option to their partner. However, DeFazio advises, negotiating an agreement “need not be about one side winning and one side losing.” Both parties need to come up with solutions that each can agree to without pressure to sign on the dotted line. â–