Good communication while both spouses are alive and well can spare the non-financial spouse a great deal of heartache when the financial spouse can no longer do the job.

Among married couples, it’s not uncommon for one spouse to manage all aspects of the family’s finances. While in the short term that makes life simple for the non-financial spouse – often the wife – her lack of familiarity with the couple’s money, investments, taxes, and perhaps business ownership only worsens the fear and sorrow that strike if her husband pre-deceases her.

That is one of the scenarios highlighted in a…

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