It should be a joint account for all purposes. If you have to have separate accounts, there is a lack of trust that you need to "keep" money from each other. Also, if something happens to your spouse, being able to access his/her funds when it is not in your name is difficult if not impossible. At a difficult time like losing a spouse you don't need the added stress.
i agree with this. cause once someone passes the account is automatically frozen and funds with held until the estate is settled and all bills are paid. then it takes the executor of the will to close the account. it could be months and months before those funds are available if at all. if its a joint account, then the account stays open as long as one person is still living.
I say joint AND seperate. Of course it would depend on the individuals also...David & Laura's situation - only one is working outside the home. She's working, but not for a paycheck. I think if both are working then a seperate one for each is a good idea. I am not talking about stashing millions or anything either. Just something where when Christmas comes along and you want to surprise hubby (or wife) with something-then you can do so! And for reasons like saving for little treats for yourself and you feel like you've earned it and are not taking away from household bills/expenses.
Just dont get married!!!! all that money saved can all go into 1 big bank account that can be ALL yours!!!!!!!!
Once you are married, the only way to build a stash is 24/7 private vaults. No name, ss # or fingerprint needed. Just the eyeball. It doesn't matter where you hide it. During the wedding night women develope an acute sense of smell for money. The next day they can smell it 30 miles away and can spend your years savings in a couple of hours at the local mall or on ebay. I remember the Kennedy's auction. Some woman cashed the kids college fund to buy Jacquie O's waste basket for 27k.
i think joint for shared bills and seperate for your own stuff u want. Thats what me and adam plan. I cant imagine ian being married?? can we see a wedding photo :shock:
Texas is a community property state. That means that anything earned after your marriage is automatically joint property in the eyes of the state. Anything brought into the marriage can be construed as separate. Thus, in Texas, it’s a moot point of having separate accounts. On a personal note, if you can’t trust your spouse with access to your money, then you can’t trust them on bigger issues. Marsh
