Ignorant Spouse

[Sarah in SC]

Yeah but Des Ben (TOD) accounts often have a $50 a year fee, seems high to pay when just some cash management plans would save that.
cheap Sarah

The IRAs and 401ks are already set up with beneficiaries, TOD is for brokerage-type accounts. No need to add that layer to them.

 

[kcowan]

I have a word doc and a spreadsheet that contains everything. I update it monthly with the latest data - all banking, investment accounts, insurance policies. DW has no interest but does want to have those items updated.

She has a hard copy that is printed out every year. And knows where the soft copies are kept.

 

[SteveL]

Here in WA, the atty doesn't like TOD, because it can pass funds outside intent of the will you spent $1000 getting written. The atty wants things titled Community Property rather than JT or TOD.

I think part of the solution is not to advise the bank/broker of a death until you have taken out some funds to set up a separate account

 

[youbet]

DW will simply have to remember to stop giving me my allowance after I'm "gone" and that should take care of it.......

 

[Walt34]

Interesting thread how various couples deal with finances. As a practical matter I handle the day-to-day stuff (for example I'm the one who writes the checks for the utilities) but DW has a good grip on the overall finances. She's the one who wrote the spreadsheet that we refer to frequently deciding "Do we want to buy that?"

So I think financially she'd do fine without me.

 

[Keim]

For us:

I'm 39, a gentleman never discloses his ladies age.
She handles taxes, I handle day to day. All financial accounts are tracked in Quicken, which I have attempted to familiarize her with. She isn't interested in the day-to-day of how I do things. She used to pay the bills, and has a firm grasp of the basics regarding our set-up.

I am an indexer, and there is a spreadsheet laying out the allocations I follow. She has not shown an interest in learning more about this side of our finances.

All passwords are physically written down, and maintained in a known location.

We go over our total financial picture a few times a year.