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How often do you and your significant other discuss finances? If one of you were to die, would the other be protected?
I ask this because someone I know recently died of Covid and they left behind no life insurance, no pension, an a mountain of debt.
Given the option to accept a pension with a higher payout or one that paid less but protected his wife, he chose the higher payout.
He stopped payments on his life insurance policy and and debt that the wife didn’t know about.
So not only is she without a husband she’s left wondering how to pay the bills because she has no financial security.
She knew none of this before her husband died.
Finances should not be left up to one person in the family. NOTHING should be left up to one person in the family.
Do you know all your account numbers? Login information for financial institutions? Do you have an emergency savings plan?
If you don’t, you should. You don’t want to be left grieving a spouse but also cursing them out at the same time.
