Quote:
Originally Posted by Ducay
But even us "team approach" folks deal with that, we still have separate accounts, but its all 50/50 money in the relationship's eyes. Sure to the tax man they are personal accounts only in 1 of our names, and the money may be attributed or tied to a corp or individual - but good tax planning and cash management is easier with the team approach as it is one pool of money being handled, generally, by 1 individual. Not some complex system of bill payments, savings contributions, allocations, and slush "fun money" funds.
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All our bill payments, allocations, investments and big decisions are handled joint by actually talking to each other. That's our team approach. Some of our stuff is complex. That's what accountants and financial planners are for.
What's the point of pooling it all in to one account? No one has shown how that is beneficial.
We have a joint account for rare occasions, it spends most of its time mostly empty. Because we're with the same bank it costs zero to transfer money between each other anyway.