Money Talks: Questions all married women should ask about their finances
While all women should be fully engaged in the management of their finances, the need to be up to speed on your wealth and investment strategy is especially important for married women. If you don’t know the answers to the following questions, schedule time with your financial professional, attorney and accountant to talk through these topics:
What is mine, what is my husband’s and what is ours?
What do I owe, what does my husband owe and what do we owe?
What do our estate planning documents (Will, Living Will, Power of Attorney) say and where can I find them?
If my husband dies before me, what will I be left with?
Will I have the appropriate amount and composition of assets to maintain my lifestyle?
What is my husband’s claim to my income and assets in the event of divorce?
What are my rights to my husband’s interest in his business (or the family business) upon divorce or his death?
Am I comfortable with the contents of my joint tax returns?
Who would I go to for financial advice should my husband pass away? Should I hire an advisor? Should I change advisors to someone with whom I feel more comfortable?