How? Enter information about my spouse or partner
2 In the Partner column:
Should I include my spouse in my plan?
Yes, include your spouse if you share a financial future with one another. However, if you keep your finances completely separate, create a separate financial plan for your spouse. To create a separate plan, create a new Money file for your spouse.
How do I include my non-spouse partner in my plan?
Whether your partner is your spouse or not, you can include him or her in your lifetime financial plan. However, be aware that Money assumes that your partner is your spouse for the purposes of estimating estate taxes and making certain other calculations.
How do I plan for a future spouse?
If youÆre not now married, but plan to marry in the near future, you may want to include a partner in your plan. To do this, estimate your partnerÆs income, savings, and investments. Or, if itÆs more convenient, add a spouse to your plan later.
What if my partner doesn't work?
If your partner doesn't work, you can still add them to your plan. For retirement age, enter the age he or she stopped working full-time. If your partner never worked full time, enter your partner's current age as his or her retirement age.
Also, in the Income place, enter zero as your partner's annual gross salary. If his or her contribution to household income or expenses changes in the future, adjust the values you've entered in the Income place or the Expenses place.
What if I get divorced or remarried?
If your marital status changes, update your plan to reflect your current financial picture. Remember to change your partnerÆs income, savings, and investments, too.
Use the Lifetime Planner to consider the possibility that you may outlive your spouse and discuss the results with your partner. Try entering different values for your partnerÆs life expectancy to see if you would have adequate means of support if your partner died.