It’s not “only money,” honey
Women have a screwy relationship with money
We FOF women can really screw ourselves up when it comes to our money and our relationships. I heard the story today of a FOF physician who earned lots more than her husband. She didn’t want him to feel less worthy, so she put property in his name and shared bank accounts, among other generous gestures.
After all, he was her husband, the father of their two sons, and “the man of the house.”
The doc and her husband divorced four years ago and she had to pay him over $1 million, not to mention alimony. She’s just beginning to build up her nest egg again. Like millions of FOF women, she let her money get all tangled up with her emotions and she couldn’t figure out a way to separate the two.
Moral of the story: Your money doesn’t make a man worthy. Leave that up to him.
FOF plans to invite us all to talk about money in a new and exciting way, so we can get real smart real quickly about a subject we often fail. We’re excited that The Network for Women Advisors at Raymond James is going to help.
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I’m commenting for Canada so am only referring to family law here, but assets are equally divided on divorce regardless of whose name they are in, if there are no pre-existing contracts (pre-nup) and even then, if a lot of time has passed, those may be challenged.
So here, you are pretty much going to have to share your assets no matter what. It’s usually a shocker for middle-class women to find out how poor they get in a divorce. I know more than a few couples I know or suspect are together simply because they’d be poor if they split their assets.