Planning Tip # 2 - Talk to Your Spouse
February 25, 2010 08:04 PM Filed in: News
Talking about what will happen after your death can be hard; however, you owe it to your spouse to make certain you have discussed important financial planning and estate planning issues and strategies before it’s too late.
If you read Planning Tip # 1 you know it is good to keep lists of your assets, debts and professionals who help you with your estate planning, will, financial planning, and so on. You should talk to your spouse about these lists and make sure your spouse knows where your important papers are kept.
You should also explain to your spouse if you have given a power of attorney to him or her to make decisions in the event you are unable to make them. You should make sure your spouse knows your wishes for burial.
Of course most of the time both spouses will make their estate planning, wills, and other associated plans together with a lawyer and other professionals. However, it’s important that the conversation between the spouses also happen outside the office of their estate planning attorney.
If you read Planning Tip # 1 you know it is good to keep lists of your assets, debts and professionals who help you with your estate planning, will, financial planning, and so on. You should talk to your spouse about these lists and make sure your spouse knows where your important papers are kept.
You should also explain to your spouse if you have given a power of attorney to him or her to make decisions in the event you are unable to make them. You should make sure your spouse knows your wishes for burial.
Of course most of the time both spouses will make their estate planning, wills, and other associated plans together with a lawyer and other professionals. However, it’s important that the conversation between the spouses also happen outside the office of their estate planning attorney.