Do you feel ignored, replaced, forgotten, or lied to? So from betrayal to heartaches, If you do decide you want to make things work, then you have to take things one day at a time while remembering to take care of yourself.
Things to know:
1. Make sure that you know the accounts and passwords of all online and offline saving and investment accounts.
2. You should also know about the investments in your or your spouse’s name, and have access to original documents of all insurance policies, be it life, health, vehicle or house.
3. Finally, ensure access to will and property documents
4. Access to partnership deed if he is a partner in any firm. Any loans in firms names, any loans in spouses name, any assets used by you belonging to firm
5. Any mortgages?
Above facts are essential for smooth transition of assets in case of mis happening
In case you don’t get answers to above:
If you have tried to talk to your husband about the need to share crucial financial information and he is reluctant to do so or refuses outright, try to seek the help of a mediator. This person can be a trusted confidant or older relative, respected by both spouses, who can help clear the impasse.
If this doesn’t work, approach a financial adviser, who can take an objective and pragmatic stance on the need to share financial details.
If this too fails, seek a marriage counseller as a last resort because the issues and fissures are clearly deeper, involving your marriage, not merely your finances.
Points:
1. Carry your own plastic.
If every bank account and credit card is in your husband’s name, you will be a financial nobody without him. Before you do anything else, open a bank account and get a credit / debit card in your name.
2. Read the fine print.
Look over all tax returns, investment agreements, real estate contracts and legal documents carefully. Get a credit report annually so that there are no surprises in your family’s debt situation.
3. Define what’s yours, mine, and ours.
Make sure that you’re listed on the deed to your home as joint owner or that the house is classified as community property.
4. Don’t give up bill-paying duties.
Sometimes women who aren’t working feel uncomfortable participating in financial decisions. For your protection, be aware of how the money comes in and where it goes out.
5. Get to know your financial advisers.
Attend any meetings with an investment planner, lawyer or accountant. Should there ever be a problem, you’ll have the network you need to make important decisions.
6. Make plans for the future.
Make sure you and your spouse each have adequate life insurance, a will and a living trust. Consider putting aside money for long-term care (women tend to outlive men). Don’t neglect your own retirement.
7. Keep your professional hat in the ring.
Even if you plan to stay home for good, maintain your networks and stay in touch with colleagues. Whether through divorce or widowhood, the odds are real that you’ll be financially responsible for yourself again.
Informative Article 👍