Reply #37: I had one and then I didn't and I wasn't .

[Breeze54]

Women are almost NEVER better off financially after the loss of a husband.

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WOMEN AND DIVORCE - A MINI-LESSON

http://www.ai.org/dfi/education/MiniLessons/womendiv.ppt

In divorce, who suffers more financially, women or men? Divorce has significant impact on the financial situations of both spouses as they divide assets and establish separate households. Women often experience greater hardship because they have custody of the children, their incomes are usually less than their ex-spouse's, and they may have accepted a minimal financial settlement during the divorce. Smart Money reported that 26% of women experienced a decline in their standard of living in the first year after divorce. (death of spouse)

Any woman, whether married, divorced, separated, or widowed should check to see that the credit bureau has accurate and complete credit information in her name.

Financial Independence

Women who plan for financial self-reliance are more likely to be prepared to meet widowhood, divorce, or other life changes than those who do not. Suggestions for gaining financial independence include:

o Establish credit in your own name so that you have a credit history independent of your spouse. Even with no income of your own, you should have separate savings, checking, and credit accounts. You are responsible for managing your own accounts and no one can supervise your accounts better than you.

* With credit cards, you need to oversee the card's use. Make sure that your spouse does not run up an excessive amount of charges that together you cannot repay. You can do this by calling the credit card company regularly to check the status of the account.

* Establish a bank account in your name when you close all joint accounts. You need access to cash for living expenses. A three to six month cash cushion is advised for day-to-day expenses.

More Facts....