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www.insideHALTON.com · OAKVILLE BEAVER Thursday, May 10, 2012 · 16 W Ensuring spouses share financial responsibilities While the intention may have been good, the implications can be difficult for the widow. Yes, it is very noble to handle investments if your spouse has no interest, but keep in mind that spouse may have to suddenly assume that investment responsibility while adjusting to the death of their spouse during their senior years. Statistics show it is very common for women to live an additional 10 years following the death of their spouse. The tradition of a man taking care of his wife by handling the finances, can impede her ability to take over when she is a widow. Taking care of your spouse does not only involve you managing and saving money. It also involves your spouse han- idows often face a potential financial management problem during the last years of their life. Given the fact men have been predeceasing their wives, couples are encouraged to be mindful of a spouse's well-being after the death of their partner. Tradition once saw husbands making a couple's financial decisions. Dollars & Sense By Peter Watson "Tradition once saw husbands making a couple's financial decisions. While the intention may have been good, the implications can be difficult for the widow." ments produce. It is that cash flow that will carry forward the quality of life built by a couple. While some enjoy the details of investing -- such enjoyment escalating during retirement when there is more time available, those same retirement years may be a good time to have a spouse take an interest in the family finances. The timing of this article is no accident. This coming weekend is Mother's Day. Celebrate the mother of your children on Sunday and then on Monday begin addressing any changes that may be needed in your family's financial picture. Organize family investments so your wife can benefit if you are no longer here. That is what will be remembered. That could be your most thoughtful gift this Mother's Day. -- Submitted by Peter Watson, MBA, CFP, R.F.P., CIM, FCSI. dling the investments on their own, with confidence and with the least amount of stress possible. This can be achieved in two ways. First, have investments organized in a logical, manageable way. As well, there is often reluctance on the part of a widow to change what her husband put in place. A husband may not have intended to keep the portfolio as is, for a long period of time. A wife, being unaware of that, will find it stressful and difficult to change what a deceased husband had put in place. Secondly, have both spouses involved in the financial decisions and their administration. These are joint assets to benefit both parties. A widower or widow will be disadvantaged if he or she is unfamiliar with the family finances. Many who are not as interested in the specifics of investing do still require the cash flow that the invest- SHOP ONLINE www.hotspotautoparts.com Hours: Mon. - Fri. 8 - 5, Sat. 8 - 2 Huge Discount for Commercial Accounts 5% OFF Bring this AD & get an additional Regular Price A/C Refrigerant from 9 A/C Compressor $ 16999 $ 49 A/C Recharge Kit 2989 A/C Condenser $ 8999 $ from Economy Brake Rotors or Drum Hub Bearing Assembly Ball Joint from Economy from Economy from 11 $2499 $ 95 $ 99 39 79 $ 99 $ 79 12 24 $ 99 from BCA/National from Moog from Premium Shocks Struts Brake Pads Monroe-Matic 1yr. warr. from Monroe-Matic 1yr. warr. from 19 $ 99 39 $ 99 Economy Monroe-Sensa tracklifetime warr. from Monroe-Sensa tracklifetime warr. from 2999 $ 5199 $ from $ 99 Harvester Rd. #11B 905-544-2444 Burlington 5115 (East of Appleby Line) 9 Wagner ThermoQuiet from $ 2495