The classic joke is “What is the biggest cause of divorce? Marriage!”
However, in my experience as a mediator more divorces are caused by
fights over finances than fights over infidelity. With this in mind an article by Rachel Louise
Ensign entitled “I Do – Now Hands of My Checkbook” in
The Wall Street Journal Sunday section of the Arizona Daily Star caught my
eye. See the entire article at http://tiny.cc/cdm0125 I have always been interested in
how married couples handle their finances.
Some couples have all joint accounts. We do and have handled the entry
problem by having two check books for one account. It resolves the problem of
one checkbook and one spouse constantly forgetting to enter items. Many couples have separate accounts and
divide up who pays what bills. Ensign
cites a statistic that 31% of individuals who are married have separate
checking accounts. She also some
parental wisdom which states that the secret to a happy marriage is separate
checkbooks. Ensign suggests some things for couples to
consider.
1. How are
you going to split shared expenses?
2. What do
your portfolios look like together?
3. What
about assets such as property and businesses?
4. What
would happen if one of you died?
5. Do you
need a postnup?
Of course with the more and more people using credit cards and debit cards
this may not be as important anymore or maybe there are just new problems!
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always, you can post any comment about this blog or Divorce Mediation, or just
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CDM (267) 1/25/13