Families change
Even today, partnerships are often associated with financial dependency, especially if one person in the partnership earns the majority of the income and the other has little or no income of their own.
It is therefore important to have open discussions about financial matters at an early stage of the partnership to ensure that both partners are financially secure, even in the event of a later separation. Joint bank accounts, assets, insurance policies and loans should be reviewed to gain a clear understanding of the joint financial situation.
Talking about finances openly within the relationship not only makes living together and joint purchases easier, but also helps clarify the division of assets in the event of a separation. You may also consider drawing up a last will and testament. In the event of one partner’s death this can help avoid unpleasant surprises caused by statutory inheritance law. Ideally, each partner should also build up a personal financial reserve to make the transition to independent living easier should this become necessary.
In this context, it can also be useful to take advantage of advisory services to discuss your personal financial situation.
