Kathy Roeser
Kathy’s Tips:
Things to Consider
Assets –
Comingle or keep separate
Investment decisions as a joint effort
Bills –
In a 2-income relationship, define who’s responsible for what?
Budget: are either of you used to “living” on a budget
Debts/Liabilities/Obligations -
How much (for what)
Are there obligations to a former spouse or children
Credit history and scores
Asset Protection/Insurance
Who is beneficiary
Is it adequate, especially if children exist or are planned
Retirement assets
Where, how much, who is beneficiary (be sure it’s not a former spouse or a parent). Insurance policies and retirement plans are beneficiary driven. . . pretty ugly if a spouse dies and his/her life insurance proceeds go to the former spouse.
Priorities –
Is putting money away for the future children’s education more/less important than buying a new car? How does each feel about debt?
Extended family input
Is one accustomed to discussing his/her finances and decisions with a parent(s)?
