Why You Should Make Your Spouse’s Finances Your Business

We read about embezzlement of finances a lot in politics but this might happen to you as well. Your relationship might be perfect in all other areas and you tend to assume that even the finances are OK. This is a great misconception which has shocked so many couples who are too trusting. According to a recent study, there are very many divorce cases which are being triggered by financial matters between spouses. In many families, one partner manages the finances while the other stays behind in the back. If things go wrong and you find yourself in financial hardships, you cannot plead ignorant after reading this piece of information. Know your spouse’s finances and protect yourself from rude shocks.

In most families, a partner with higher education level assumes most responsibilities. Your partner might fail to pay income taxes and it will all be your burden. This is mostly seen in couples who have joint accounts. What both of you should understand is that all the errors or anything inaccurate will be accountable to both spouses. If one partner fails to pay penalties the other one will have to pay the IRS the full amount. Spouses should be trustworthy but there are sometimes one partner turns out to be false. I know you are thinking that you can file a spouse defense case but most couples do not have the qualifications. Knowing about your spouse’s finances should be your business whether you are educated or not.

As a careful lover who wants you to have a long life in riches, do not sign anything your spouse hands you and do not give your spouse any permission to be signing your documents. Examine the financial forms and ask questions where you have doubts. In case the answers are not satisfactory do not sign. Do not feel guilty for being stern or non-trusting. You are simply taking control of your spouse’s finances and reducing any legal liability. Many partners are crying their eyes dry due to credit card debts. Joint accounts are good but they can result into a lot of menace. The card might be in your spouse’s name but you are liable to any charges provided the transactions bear your signature. Financial planners advice that you should make it a habit to review all credit statements and authorize any credit-card use.

A comfortable romantic relationship must be well financially supplied. To acquire the much needed financial stability you might have cosigned as a guarantee to his/her business loan. If you do not review your spouse’s finances you might be risking to find yourself in business or mortgage debt. If the business have jointly owned assets you must be concerned because you never know when a divorce can come knocking at your door. You might think you know the person you live with only to be faced with unbelievable realizations. You should take your obligations seriously and whenever you detect some strains you should always invite a financial planner to come to your aid.

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