Women And Money: 13 Strategies For Protecting Your Husband

  1. Know what assets are in your name, what assets are in your husband’s name, what assets are held jointly.
  2. Know who the primary and secondary beneficiaries are of any life insurance policy on your life and your husband’s life.
  3. Know who the primary and secondary beneficiaries are of any retirement plans, IRAs, 401(k)s or annuities on your life and your husband’s life.
  4. Know what your household assets are and what your household income is.
  5. Be sure you and your husband have durable powers of attorney, health care proxies, wills and trusts.
  6. Know who is named Executor in both of your estate planning documents, and who is named Trustee.
  7. Know what your husband’s income will be if you become disabled and your salary does not continue to be paid to support the family. If appropriate explore the purchase of disability insurance.
  8. Know what your husband will receive if you predecease him whether he will receive those assets outright or in trust, what debt exists and how it will be paid, and what liquid assets will be available to pay bills, debts, and mortgages.
  9. Know what your husband’s income will be if you predecease him and your income is no longer available and how your husband will be able to educate your children.
  10. Make sure your husband knows who the family advisors are (lawyer, accountant, financial planner, life insurance professional, investment advisor, business advisor) and to whom to turn if he needs assistance.
  11. Explore the purchase of long term care insurance for you and your husband.
  12. Designate a guardian and a trustee for you minor children in the event of you and your husband’s deaths, and decide at what age your children should receive funds.
  13. Review your property and casualty insurance to make sure that the appropriate levels of insurance are in place and consider purchasing umbrella liability coverage.

Patricia Annino is a nationally recognized authority on women and estate planning.  She educates and empowers women to value themselves and their contributions in order to ACCOMPLISH GREAT THINGS in the world – and in so doing PROTECT THEMSELVES, those they love, and the organizations they care about.  For more visit:  www.patriciaannino.com




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