Is it wrong to have a savings account that your spouse does not have access too?
I seem to be meeting more husbands that have saving account that there wives don't have access too except upon death. Is this an acceptable in marriage if the wife, or husband, has horrible spending habits?
Well, I won't make a moral judgement. However, if you concerned about their spending habits, in most states a spouse is still legally liable for the debt the other spouse creates regardless of who's name the assets are in. So while you may be able to stop them from spending that account, if they rack up a credit card liability, you're still likely held liable. There are disadvantages beyond that. It's important to make sure the spouse has at least a springing power of attorney in the event that you're in a coma and they need access to the account to pay your bills for you. Additionally, the account should at least be in POD form or titled in a revocable trust to bypass probate if you pass away.
by Penelope Hart 5 years ago
Do you save money? I mean do you put money into a savings account regularly?Do you make enough money to save money? How do you save it? Do you save even though you can't afford to save? Are you cutting corners to save?Or do you simply not save, because you can't?
by SPomposello 6 years ago
Let's say your employer doesn't match anything with your 401k, and you have no issues with saving money, you don't have a million expenses... is there any point in having a 401k, iRA, or anything of that sort then?I've got two jobs plus I'm married, my wife works, our expenses are low, I have a...
by Kotti KaDotti 3 years ago
Does your spouse have the right to look through your email or is that private?
by Edward Zhang 7 years ago
What are things that I should consider when choosing a savings account?It's about time I should make myself a savings account. What are some factors I should think about when choosing the bank to open my account at?
by Kind Regards 7 years ago
What investments are 99.9%* safe, as safe as a savings account?*I put 99.9% because I suppose nothing is 100% safe. Even money under your mattress could be stolen or lost.
by josypoo2826 4 years ago
I need a loan fast im in a bad spot i only have a savings account i work full time 2000 dollars...a month i have been serching online help me find where i need to go with out getting passed around
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