If you wanted to leave some money to your children, how would you split it between them? You could come up with numbers based upon their likely need for help. Or you could simply divide it equally…after all you love them all, well…equally. Equal distribution is probably the most common way of dividing assets. Yet, what about the situation where one of the kids is very successful financially and has no need for your money? What message does an unequal gift send?
Dear Emma, I started dating the most amazing woman a few months ago. It’s going so well that I feel she’s going to ask me to marry her soon. The problem is that I’m too embarrassed to tell her that my credit is in the toilet. We’re both professional, successful women, but [...]
Ultimately, this discussion was not so much about who should pay, but more about the feelings that can arise around money based on each person’s past experiences and beliefs. Projecting these emotions onto the situation without examining them can derail the relationship before it even gets started.
I often hear familiar themes with respect to money, and it finally dawned on me to start asking women what lessons they would want to pass along to younger women, including their own daughters, about money.