Do you share financial derails with your partner?

Why?

Oh dear, I have my own account.
Perhaps I should make it joint?

I don't understand it myself, but some women have been happy to let their OH take charge of all the finances.

Coercive control? I couldn't comment on that with such limited information and, knowing someone younger who is being subjected to that, it is far more complicated.

Agreed on all counts, Allira.

I know that some women can inherit, which is why I suggested people should check if they are relying on that.

Regardless of individual arrangements, which are as varied as there are couples, I still believe that everyone should know what's in store though.

It depends when her husband reached State Pension age.
She could still inherit a proportion of his pension.

moneyweek.com/personal-finance/pensions/state-pensions/state-pension-inheritance-widow-rules

She should contact HMRC and the Pension Tracing Service for any private pensions he may have had.

Surely there must be some documents in the house relating to bank accounts, savings, investments etc.
Did he leave a will?

It matters not now if it was coercive control or if they were both happy with the arrangement, what matters is sorting out her finances for the future.

She was busy looking after the children and later the elderly parents. She had a variety of part time jobs but nothing with a pension.

Ours are joint accounts except the isas

Most of our accounts are joint ones and if not, we can access each others.

Each to her own, but what did she contribute?

I can't imagine not sharing the joys and troubles of finance (and other aspects) of married life, but then I never had an 'allowance'. We were an equal partnership from the start. Sometimes I earned more, sometimes he did, and his pension is way more than mine for various reasons (most of them surrounding outdated sexist legislation), but we have always been happy to share and share alike.

It is very important that people know how their finances will be impacted by the death of a partner, as well as how they would manage if s/he left the relationship. Being a hostage to fortune is not something I would ever have contemplated.

Sorry if this is stating the obvious, but I was talking to my mother recently, and she had no idea that women no longer inherit their husband's state pension. She is very financially savvy usually, but this change had passed her by, as she and all her friends all have a good income that comes from their husbands' pensions, SERPS and so on, so she had never needed to know. This all changed in 2016, so it may be worth checking if anyone is expecting to do likewise and inherit a spouse's state pension.