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Reply to "Second marriage finances"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Everything joint. I have 3 kids from first marriage. DH has none. I have life insurance with my kids as beneficiaries that will go into a trust with my parents managing the trust. Once my kids are out of college, I’ll reevaluate the life insurance. For DH and me, all our income, savings, investments, and real estate are in both our names. When either of us dies, it all goes to the other. I don’t find this to be complicated at all and it seems weird to not partner because of finances. DH and I both make relatively similar salaries and come to the relationship with similar assets. [/quote] Your poor children. [/quote] The children are just fine. No one will leave me an inheritance and I don’t need one. I made all my wealth. My children will have their childhood and college paid for. I don’t plan to leave them anything other than that - even if I was still with their bio dad. Young people have no incentive to work if they have money or know that it’s coming. If I die, DH will still need money to support himself - especially if he’s older. Able bodied young adults can work. My elder spouse won’t be able to work. [/quote] +1 I plan to pay for my kids college/grad school, weddings and down payments. Only if it came at no expense to myself or DH at the end of life, would I preserve further legacy.[/quote]
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