Tuesday, 21 May 2013
Money Talks to Have With Your Spouse
When you say “yes” to tying the knot, you’re doing more than joining hearts and lives, you’re also joining finances. Gulp. For better or worse, if you don’t communicate openly about money matters, your marriage can end up in hot water.
Estate planning attorney Ann Margaret Carrozza suggests that the key to avoiding these issues is to work as a team. "When you're in a partnership it's so important to set goals together, and gain knowledge to create financial security going forward. This way you have common goals and there's never any confusion about how to invest financially."
Whether you’re married or about to walk down the aisle, Carrozza says these are five money conversations you should have with your spouse:
1. Create your personal financial blueprint
2. Before the stork arrives, create a will
4. Long term care planning
5. Insure your estate planning