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Old 11-24-2020, 05:55 PM   #101
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All joint except IRA’s. We have had separate bank accounts over the 53 years, but, that was do to military deployments, before the internet, where it was a necessity. Even those were joint, but separate. She had all funds deposited into her account and would deposit my monthly rations into mine.
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Old 11-24-2020, 05:56 PM   #102
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All assets in Joint Tenancy except for retirement accounts that are individually held naming the other as beneficiaries.
Same here.
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Old 11-24-2020, 06:01 PM   #103
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There are no asset qualifications for posting on this site. You merely need to be a decent human being.
And, fortunately, we have folks here who know if you are...
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Old 11-24-2020, 06:17 PM   #104
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Our accounts are and always have been joint with the exception of IRAs, Roth’s, and TSP. This works well for us.
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Old 11-24-2020, 06:18 PM   #105
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All assets held jointly except my 401k and deferred comp from work, for which she is named as the beneficiary. We’ve never had separate accounts. When we got married in 1984, she had a couple thousand dollars, and I had a 1974 Ford Pinto Wagon worth a couple thousand, plus a skillet, an egg pan, and a slow cooker, plus a couple forks, spoons and knives my parents gave me when I went to college. Right before we wed, I also bought a 13” TV and a microwave with my meager earnings. Other than that, we just had a little clothing. When I think of how little I had back then, and what we’ve built so far, I get a bit emotional at the wonder of it.
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Old 11-24-2020, 06:24 PM   #106
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When we married, I had student loan debt and parents to support. He had savings. We decided to do his, hers, and ours. We both expected the other to work and neither wanted a stay-at-home spouse. We contributed a set amount to ours to save and pay for joint expenses (housing, utilities, kids, college for kids, etc). We also had different work life goals. He wanted to coast job-wise but doesn't mind working longer. I accepted more stress for more pay to save as much as possible and retire early, so I only looked at my #s, excluding joint savings/investments to determine if I could retire. He will probably also get a nice inheritance and I still have parents to support. It works for us. YMMV
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Old 11-24-2020, 06:46 PM   #107
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We are high school sweet hearts. Been Married for 45 years. Never had separate accounts. With blended families its harder but we still recommend, all joint and everything is in a Family Property Trust. The real question to ask is: Do all accounts have their beneficiaries set and do you share that information with each other. Or do you keep secrets from each other? You should have a joint trust account with all your major assets like home, investment accounts, etc. This avoids probate. Is you will up to date and have your shared it with your spouse? Everyone needs their estate documents in place and a clear understanding of what happens if one of you is not longer here or if either of both become unable to manage your finances. We also do our Charitable Giving planning as a team. Speaking of some of you Wealthy types, remember you can give up to 100% of your AGI this year!
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Old 11-24-2020, 06:52 PM   #108
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Agree with Got2golf. Transparency is everything. Even though we do his, hers and ours, we are each other's beneficiaries on all accounts that aren't explicitly joint and keep a spreadsheet of all accounts updated for the family, so they are easily located should anything happen.
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Old 11-24-2020, 08:22 PM   #109
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The only thing we don't hold jointly are our IRAs and 401Ks and HSAs and whatever else can not be legally held jointly. That said there is no wrong answer as long as there is transparency and agreement.

I want to also add that my parents held all of their joint assets in a trust. And as the executor of my mom's will and successor trustee, I can tell you that it made things SO much easier for me after my mom passed four years ago.

The one thing we realized a few months ago was that my mom held about $30K worth of savings bonds that we discovered early this year. My parents apparently forgot to reissue these to their trust. We had to spend a lot of time and effort (with the help of my brother's financial planner) to get these divided four ways and into our own names.
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Old 11-24-2020, 09:22 PM   #110
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There are no asset qualifications for posting on this site. You merely need to be a decent human being.
What about those of us who practiced law?
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Old 11-25-2020, 05:37 AM   #111
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Wife and I both met 12 years ago after each were previously married 30 years. We married 10 years ago with complete understanding, prenuptial, her assets were in her trust as mine in my trust. We have separate accounts, cc, and tax returns. I am unaware of her assets now (although all had to be listed initially in the prenuptial) but do know mine maybe somewhat larger. We are both thrifty and enjoy what we have but travel virtually full time as a hobby and actually live abroad 4 months out of the year on a Caribbean island.
A great relationship without financial questioning or drama as we knew going in it is none of the others business. Never discuss the others investments. Both retired physicians. We stay with each other because we want to and both feel lucky
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Old 11-25-2020, 07:51 AM   #112
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What about those of us who practiced law?
In the course of my 27 year legal career, I met only a few who weren't.
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Old 11-25-2020, 07:59 AM   #113
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^ that is good! My future DIL is an attorney, and she seems like a great person with great character. Is there something we need to know about lawyers?? Lol
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Old 11-25-2020, 08:01 AM   #114
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Is there something we need to know about lawyers?? Lol
Other than what Dick The Butcher said?
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Old 11-25-2020, 08:28 AM   #115
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Does it really matter? A divorce will split it all 50% if you are lucky!!!!
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Old 11-25-2020, 10:43 AM   #116
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Remarried at age 59 (8 years after retirement), each with one adult child. All finances are separate.
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Old 11-25-2020, 11:26 AM   #117
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Does it really matter? A divorce will split it all 50% if you are lucky!!!!
Not true.

If some things are kept separate, they are in many places not part of the division.
Example: inheritance, if kept separate (single ownership) and not used to purchase a matrimonial home.
Same with gifts if structured properly.

But if you inherit $xxx and deposit it into a joint account, then it's part of the division.
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Old 11-26-2020, 11:46 AM   #118
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We are married 50 years this year and consider all investments (IRA, Roth, Joint) as joint, even if IRS considers some separate. This seemed like a logical way to consider our investments from day one. Our Joint AA is about 45/45/10 today, but at one time it was 95/5%.
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Old 12-03-2020, 06:49 AM   #119
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. I don't use her accounts in my calculations.
I have actually run our numbers separately through FIRE to see if we could make it independently should something happen...
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Old 12-03-2020, 07:13 AM   #120
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We have been married 40 years. We had nothing when we married- we were young still in college.
One joint checking account, 401k and IRA’s are owned individually but we are beneficiaries of each other’s account. We chose 100% survivor on his pension.Home is owned jointly.
So for FIRE planning purposes we combine assets.
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