Tuesday, January 2, 2018
It is fairly common for married couples to divide up household chores. Many times, one spouse is delegated the task of handling finances. Whether this assignment is earned by their own acumen or through the utter disinterest of the other spouse, the spouse tasked with handling the finances can perform admirably in this position with little turmoil for quite some time. It is when they pass away, especially if they leave their financially-indifferent spouse behind, when serious problems can arise. Spouses that have ignored the family finances can be left bewildered, unsure of their future stability, and at a loss for what steps they need to take to get a hold of their financial situation. Because this common scenario can be incredibly difficult to handle, it is important for couples to sit down, discuss their finances, and have that awkward conversation about death.
See Michael Aloi, When You Lose a Loved One Who Handles All the Money, Kiplinger, September 21, 2017.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.) for bringing this article to my attention.