Comments on: Gays and Financial Planning http://cjbonline.org/2007/12/11/gays-and-financial-planning/ The Life Of Me Wed, 04 Jan 2012 15:46:33 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Cj B http://cjbonline.org/2007/12/11/gays-and-financial-planning/comment-page-1/#comment-3095 Cj B Mon, 24 Dec 2007 00:02:44 +0000 http://cjbonline.org/2007/12/11/gays-and-financial-planning/#comment-3095 David, Thanks for the comment. I agree that there should be full disclosure before you get married. That's also why when you are just "living" together, or whatever it should be fairly mixed, but not completely together. That way you can really see how each other spends money. Once you are married, everything should be in one pot, etc. As you said. My dad could log on and check the balances, etc if he knew how to do anything more then just play solitare on the computer! :) David, Thanks for the comment. I agree that there should be full disclosure before you get married. That’s also why when you are just “living” together, or whatever it should be fairly mixed, but not completely together. That way you can really see how each other spends money.

Once you are married, everything should be in one pot, etc. As you said.

My dad could log on and check the balances, etc if he knew how to do anything more then just play solitare on the computer! :)

]]> By: DavidS http://cjbonline.org/2007/12/11/gays-and-financial-planning/comment-page-1/#comment-3083 DavidS Sat, 22 Dec 2007 23:24:30 +0000 http://cjbonline.org/2007/12/11/gays-and-financial-planning/#comment-3083 Gay or straight, the issue of money within a relationship is certainly a major topic of discussion. Looking back, when I was engaged my wife and I opened a bottle of wine for an evening of "full disclosure". We essentially put all the cards on the table and reviewed our financial situation (debt, income..etc.). I suppose that if either of us were in a bad situation financially, the other could get out before the "big day". Once we were married it became a single "pot" of income and debt. Reading the story about your Mom, I can't see myself in that situation with the way we bank. At any given moment I can log into our accounts and see where the money is going. This is very tempting especially during Christmas. If I wanted, I can see if I'll get those shirts from the Quiksilver store or the gift card from Apple. ;) While I am no expert on how a Gay couple can protect themselves in the event the relationship sours, I am an expert with respect to traditional marriage. Or as I like to call it...The business of love. Gay or straight, the issue of money within a relationship is certainly a major topic of discussion. Looking back, when I was engaged my wife and I opened a bottle of wine for an evening of “full disclosure”. We essentially put all the cards on the table and reviewed our financial situation (debt, income..etc.). I suppose that if either of us were in a bad situation financially, the other could get out before the “big day”. Once we were married it became a single “pot” of income and debt.
Reading the story about your Mom, I can’t see myself in that situation with the way we bank. At any given moment I can log into our accounts and see where the money is going. This is very tempting especially during Christmas. If I wanted, I can see if I’ll get those shirts from the Quiksilver store or the gift card from Apple. ;)
While I am no expert on how a Gay couple can protect themselves in the event the relationship sours, I am an expert with respect to traditional marriage. Or as I like to call it…The business of love.

]]> By: Julian http://cjbonline.org/2007/12/11/gays-and-financial-planning/comment-page-1/#comment-2906 Julian Wed, 12 Dec 2007 14:58:01 +0000 http://cjbonline.org/2007/12/11/gays-and-financial-planning/#comment-2906 A corporation is exactly how I would buy a home without the legal protection of marriage. A corporation is exactly how I would buy a home without the legal protection of marriage.

]]> By: Cj B http://cjbonline.org/2007/12/11/gays-and-financial-planning/comment-page-1/#comment-2904 Cj B Wed, 12 Dec 2007 14:30:49 +0000 http://cjbonline.org/2007/12/11/gays-and-financial-planning/#comment-2904 Hey, I hadn't thought of a corporation. It'd be interesting to sit down with a lawyer and accountant to see how that would play out tax wise and stuff. Good idea! :) Hey, I hadn’t thought of a corporation. It’d be interesting to sit down with a lawyer and accountant to see how that would play out tax wise and stuff.

Good idea! :)

]]> By: Cj B http://cjbonline.org/2007/12/11/gays-and-financial-planning/comment-page-1/#comment-2903 Cj B Wed, 12 Dec 2007 14:30:10 +0000 http://cjbonline.org/2007/12/11/gays-and-financial-planning/#comment-2903 I look forward to that as well. Thankfully we can at least have the ceremony, and as a_trick_mind pointed out, using a corporation is a good way to go. Although it also does create a few issues in some senses. I think that if you haven't been together very long, that leaving with what you came with is a good idea. But what happens when you have been together for 10-20 years? How do you decide what you came with? I look forward to that as well. Thankfully we can at least have the ceremony, and as a_trick_mind pointed out, using a corporation is a good way to go. Although it also does create a few issues in some senses.
I think that if you haven’t been together very long, that leaving with what you came with is a good idea. But what happens when you have been together for 10-20 years? How do you decide what you came with?

]]> By: A Trick Mind http://cjbonline.org/2007/12/11/gays-and-financial-planning/comment-page-1/#comment-2902 A Trick Mind Wed, 12 Dec 2007 14:27:21 +0000 http://cjbonline.org/2007/12/11/gays-and-financial-planning/#comment-2902 It may be different for us since Rick and I are married, but we have three bank accounts. We each have an account. Plus we have an account to take care of our investments. For the most part, we invest my salary and we live off of Rick's salary. We have a legal corporate agreement that basically says that if the corporation dissolves, we split assets equally. Right now I am earning far more than Rick is, but one day in the not too distant future when I am no longer able to work, he will earn much more than I do. It works for us, but then we are totally committed to one another. It may be different for us since Rick and I are married, but we have three bank accounts. We each have an account. Plus we have an account to take care of our investments. For the most part, we invest my salary and we live off of Rick’s salary. We have a legal corporate agreement that basically says that if the corporation dissolves, we split assets equally. Right now I am earning far more than Rick is, but one day in the not too distant future when I am no longer able to work, he will earn much more than I do. It works for us, but then we are totally committed to one another.

]]> By: Ginny http://cjbonline.org/2007/12/11/gays-and-financial-planning/comment-page-1/#comment-2901 Ginny Wed, 12 Dec 2007 14:27:00 +0000 http://cjbonline.org/2007/12/11/gays-and-financial-planning/#comment-2901 Ya know what I was thinking the other day -- I look forward to the day when society looks back and thinks that not allowing gay marriage is an absurd thought. I mean -- today, we think it was ridiculous that at one point in time women weren't allowed to vote. Just a thought!I don't like the idea of divorce and splitting $ 50/50. I think you should leave with exactly what you came in with. Ya know what I was thinking the other day — I look forward to the day when society looks back and thinks that not allowing gay marriage is an absurd thought. I mean — today, we think it was ridiculous that at one point in time women weren’t allowed to vote. Just a thought!I don’t like the idea of divorce and splitting $ 50/50. I think you should leave with exactly what you came in with.

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