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Financial asset

Discussion in 'Married Life' started by chandy939, Mar 30, 2012.

  1. chandy939

    chandy939 Silver IL'ite

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    Dear ILs,

    I have always seen my father include my mother's name in all his financial assets like house,stocks,bank accounts,pf etc.

    I recently asked my husband if he has included my name for all this...and he said "I haven't changed anything after marriage" which means everything is under my f-i-l's name.

    God forbid..touch wood..but life is unpredictable...in case of unforeseen events...what will be my security as his wife if everything is under his father's name??

    We have been married for 3 years and like any other marriage it took me and his parents almost 1.5 years to get used to each other.Touch wood...now all of us are at peace with each other...my only issue is I cannot trust my f-i-l on financial aspects because of my past experiences.

    Some friends told me their husbands included wife's name after marriage...some had to fight to get their names included....i think even I will have to have one seeing the present situation.I don't mind...but he shouldn't feel that I am behind his money...i just want to know what is the legal way or the correct way that is done.

    This has been worrying me past few days...please advice.
     
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  2. RamyaSridhar1978

    RamyaSridhar1978 Gold IL'ite

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    I am not aware of the legal aspects to get the name included . I just know you need to talk to your husband diplomatically about this to include your name in important things like bank, property. ( if it's your husbands). Do u have a kid? Tell him to discuss your financial position as to where things are? How much etc? Slowly recommend to add your name too in case of any untoward event it might serve as a fallback for you. If you have any investments make sure o add him as your beneficiary .rather than asking him to change name it might hurt your fils feelings ask him to make joint investments in you guys name if you have a kid it's even more better you can use this as an opportunity to make him realize the need for a security.
     
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  3. chandy939

    chandy939 Silver IL'ite

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    We don't have a kid yet.I am not asking him to change everything to my name.All I was expecting was to include my name along with his or make me the nominee or beneficiary for his insurance policies,stocks etc.The property is in my DH's name as he has only built it from his money.
     
  4. Naksh

    Naksh Platinum IL'ite

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    Chanduy.

    You want money ? - Get yourself added to his account,atm,credit cards.

    Do you work? If yes, build your property, buy stocks or whtaevr policies for yourself.

    i knwo am wrong but this is what i felt reading the post - you are worrying over material things. In the process you may loose your peace.

    Tomorrow is faaaaar away so faar away, make your today pleasant for a pleasant tomorrow.
     
  5. chandy939

    chandy939 Silver IL'ite

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    I think you are misinterpreting what I am saying.Please read my first post clearly.
     
  6. freddycat

    freddycat Platinum IL'ite

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    As far I know, most DH do by themselves after their marriage. If he hasn't done that, means the controlling figure is FIL. I won't loose my sleep over this. But, something that needs to be worked on, over time. I don't think, you can force him on this matter, if he is not doing it willingly by himself.

    As Naksh suggested, if you are working try to invest/save money by yourself or just, get 'pocket money' to save under your name (I don't feel shy/afraid to ask, if I think, it is fair & it is mine).
     
  7. flowerlady

    flowerlady IL Hall of Fame

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    Dear OP,
    Don't worry about such things, get a job if you are staying at home.
    Since your marriage had a rocky start it may take some more time for things to change.
    Most DH change the nomination after marriage , your DH will also do it.
    But if you discuss it then it seems that you are imagining the worst .How would you feel if you were in his shoes?
    It seems so mercenary and selfish to worry about one's assets, property if the spouse passes away!!!
    In the worst case scenario most organisations offer a job to the spouse.
    Hope it not to just to irritate FIL,DH and prove that your rights as a wife.:bonk
    Tread carefully or you may be stirring more trouble.
     
  8. chandy939

    chandy939 Silver IL'ite

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    Thank you all. This thought just came into my mind because I read where a girl was left with nothing after a tragedy in her life.

    I've decided to not to worry about this anymore as in the hope that DH's attitude will change once we have a baby :)

    Thanks again!
     
  9. premabarani

    premabarani Gold IL'ite

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    Hi Chandy
    I believe if your marriage is registered, whether you are nominee or not it will automatically come to youas you are the legal heir, ofcourse a share will go to your in-laws. Don't discuss this with your DH & spoil your relationship.
    Have a nice day.
    Prema Barani
     
  10. sdhivya

    sdhivya New IL'ite

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    I think as long as your marriage is registered, you automatically have a share in your spouse's assets ( and that works both ways). It may take time to get things sorted out however.

    I believe it requires a lot of courage to plan for the unforeseen and be prepared for anything life throws at us. There is nothing wrong with your thinking or questioning. I have seen this happen to a close relative and while you will not be thinking of money during a death, you will definitely need it after that for life to continue (more so if you have kids).

    However forcing your spouse to include your name may seem weird and probably materialistic to him and his family. Try to bring it up casually when you guys are relaxed and discussing your future. But I would not lose sleep over this since you guys are legally married.
     

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