I think there should be a joint account for combined household expenses, but both parties should have their own "mad money" where they are not accountable to either spouse (within reason). I also think they should have joint savings and retirement to build toward their future. As for what either party had before they married, that should be worked out prior to the nuptuals (heirlooms you want to leave to your children or family, etc). I guess it helps if both parties have similar values when it comes to money.
Just my opinion . . .
I had a one banking account with my husband. We each had a checkbook. We worked out a budget, which included child support for his daughter, and we discussed any major purchases beforehand. We didn't have a lot of disposable income, but it worked for us. There was no "mine" or "yours." everything was "ours." I don't know if that will work the next time around, but it is one of those things that would have to be discussed. It's more complicated now with retirement plans, homes, college expenses, etc.