- De-clutter, update and keep paperwork easily accessible.
- Develop a joint budget that realistically reflects day-to-day spending and big-ticket purchases and review it regularly.
- Evaluate if moving assets into joint ownership is the better option.
- List all debts and set a goal to pay them off and schedule time to re-evaluate.
- Evaluate Life / Illness / Health Insurance plans and where possible extend cover to both spouses. For Life and Illness plans remaining in individual names, add your spouse as a joint owner.
- Add your spouse as the beneficiary of investments, savings and pensions plans that are in individual names.
- Consolidate total number of bank accounts.
- Identify an amount to be set aside and held on deposit as an Emergency Fund.
- Make new Wills or amend existing Wills.
- Build a relationship with an Accountant, Financial Planner and Solicitor and engage with them when making key decisions.