That's one mistake people make. It's sort of a back-of-mind issue. If you're not remarrying, you can put it in your child's name so you retain control but they will inherit it.
More Quotes from Kerry Hannon:
What is really frightening is that people don't know where everything is. Many women don't have a clue where a lot of the investments are or even who their life insurance agent is. They may have paid all the household bills and wrote the checks each month, but they didn't deal with the big-picture stuff. That's very traditional.Kerry Hannon
For women in particular, it's a good thing to remember. It doesn't affect your spouse's payment at all. In fact, they will never know when you start receiving your Social Security checks. But you need to have their Social Security number in hand.
Kerry Hannon
You want to curl up in a ball and have somebody else make all the decisions for you. But this is the worst time to do that. You need to force yourself to make your own decisions.
Kerry Hannon
I'm a big fan of fee-only financial planners. They don't make commissions off of what they suggest to you. You know what their flat fee is up front before you go into a meeting.
Kerry Hannon
If you have a joint bank account, ask your bank to freeze the account so that both signatures are required before any transactions can be made. If you're concerned that your soon-to-be ex is going to run off and really drain your account, you've got to be really cold-hearted about this.
Kerry Hannon
If your standard of living is going to drop, you've got to pay real close attention to things like your credit rating and staying ahead of unsecured debt such as credit cards, ... That will be worth its weight in gold down the road.
Kerry Hannon
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The highest of distinctions is service to others.
King George VI
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