As mentioned, retirement accounts are in individual names, but we consider everything to be ours. I’m a bit amused when I hear people talk about his and her money. With the exception of those with a formal agreement, it’s like they don’t realize they’re married and that the judge will consider almost everything marital assets.
When we married we had no assets, only each other. Since then everything has been and continues to be jointly held.
We have IRA and HSA accounts that are individual, by requirement but not choice. In total they account for <3% of our total financial assets. In my mind they also are joint assets.
Everything joint here except for IRA, ROTH, & SEP accounts, but we treat them as joint.
When we married we had no assets, only each other. Since then everything has been and continues to be jointly held.
We have IRA and HSA accounts that are individual, by requirement but not choice. In total they account for <3% of our total financial assets. In my mind they also are joint assets.
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I'm no expert, so feel free to fix:
I think some folks may not realize they will miss getting the step up in basis on taxable assets when their spouse dies, because they are jointly holding the asset. This is dependent upon the state.
While there is a 1/2 step up for joint accounts, it's not as obvious, and may not reflect actual contributions.
Its all ours, except the joint things are mine, the things in my name are mine, and the things in his name are mine. I find it very equitable.
I’ve always made sure to be worth more alive than dead, and also to make sure the Mrs and our children were well aware of that fact.I have noticed the last couple of years that ms gamboolgal has been watching lots of them documentaries on Wives Killing there husbands for the Insurance monies.........hmmmm
When wDW and I married she said to me in Spanish “Lo que es tuyo es mío, y lo que es mío también es mío”. It took me a few years to learn Spanish well enough to understand that. “ What is yours is mine, and what is mine is also mine”.Its all ours, except the joint things are mine, the things in my name are mine, and the things in his name are mine. I find it very equitable.
When we married we had no assets, only each other. Since then everything has been and continues to be jointly held.
We have IRA and HSA accounts that are individual, by requirement but not choice.
Ditto. I manage both halves of the portfolio as one. Second marriage for both. Keeping separate what we brought in. DW is fiercely independent.No joint accounts except the mortgage. We've just fallen into habits on who pays what bills. Account balances and investment asset allocation is coordinated across all accounts.