Regan Good
11/01/2004
In second marriages between affluent individuals, it is not uncommon for spouses to keep separate bank accounts. Larina Kase, a psychologist and family counselor at the University of Pennsylvania, says this may not be the best approach. She has witnessed complex situations in which the difference in wealth between the partners was almost insignificant, but the emotional lines of “mine” and “yours” were firmly drawn. “Sometimes one side is affluent and the other might just be very, very, very wealthy, and there is still a discrepancy,” she says. “There are subtle differences, but sometimes the wealthier partner in the couple doesn’t want to combine monies with the less wealthy half.”
That decision can effectively weigh down the new family, making it feel like two halves instead of a single whole. Kase believes strongly in combining accounts. “Of course there can be prenuptial agreements and such, but when truly coming together as a new family, you have to let go of some of the things you have separately,” she adds. “Combining bank accounts is a great way to show that you are committed to becoming one family. The new idea is to think jointly.”
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