Married Women And Money

Married Women And Money
by Takara Alexis

With roughly 50% of marriages winding up in divorce, permitting your spouse to handle the expenses means taking a chance that could leave you financially open to attack. No one purposely plans to live as if she is just waiting for her marriage to implode, but you should realize that there are effortless and effective ways to keep yourself safe.

Look over any tax returns as well as investment agreements, real estate contracts and legal documents. Also, if every bank account you are apart of as well as credit cards, are in your husband's name, you will be a financial nobody if he is ever out of the picture. You should open a bank account and credit card under your name. You don't want any surprises in your family's money situation so get a credit report annually.

A post marriage compromise can guard any equity accumulated after the wedding, including any inheritance. Make sure that you are put down on the deed to your home as part owner or that the house is specified as property of the community.

Sometimes a woman who isn't working doesn't feel comfortable joining in any financial decision making. For your safety, be advised of how the money is coming in and where it goes to. Many couples take turns when having to pay bills on a yearly basis. Go to any meetings that have an investment planner, attorney or accountant. If there ever is a problem, you will have the system of connections you require to make valuable decisions.

Be sure that both you and your spouse each have adequate life insurance, a will and of course a living trust. You should consider saving some money for long-term care (women typically live longer then men). Also try not neglecting your own retirement-if are filing a joint return with your husband, you can put in up to $4,000 a year towards a spousal IRA.