We believe investors should be making more of their own decisions. In our experience investors with good strategies, can achieve great outcomes. However, often in any relationship, one partner tends to take more of an interest than the other. If this applies to you, think about what plans your partner or spouse will make if you die. If they are not as confident in making their own investment decisions, that could mean all the good work you have done could easily be undone with poor decisions.
In an ideal situation, both partners are equally competent in decision-making. That means in the event of one dying, the survivor can continue using their skills. If one partner has less
interest or lacking in confidence, you need a plan to manage the money.
The plan could be to help your spouse build their knowledge today. If that is not likely, you’ll need to delegate to others. Your question is when do you worry about the delegating process? Do you take action now or do you leave it to your spouse or partner after your death?
In most circumstances, it would make sense for a relationship to be in place before either of you die. And leaving it until after one of you die’s is fraught with emotional turmoil. Trying to make good financial decisions at that time when you can feel vulnerable is risky. As such, the answer is always to ensure you have a plan and relationship in place before one of you dies.
When do you want to chat?