A third of London couples don’t know where their partner’s money is
London couples are least likely to know where their partner has invested their money, research from Direct Line has found.
More than a third (34%) wouldn’t know where their partner’s money is if they passed away. Other cities where couples are guarded include Norwich (30%), Nottingham (29%) and Southampton (28%).
At the other end of the spectrum Just 14% and 16% don’t know where their loved one’s money is in Newcastle and Plymouth respectively.
Jane Morgan, business manager at Direct Line Life Insurance, said: “Establishing a foundation of trust in a relationship can be difficult; especially when it comes to finances.
“As awkward as it may be, it’s important to keep the lines of communication open when it comes to money matters.
“Whether intentionally or unintentionally, concealing details of your finances from your other half or a close family member can delay probate at a significant cost to those nearest to the deceased.
“Life insurance offers an affordable way for families to help look after loved ones financially if someone passes away, paying out a lump sum to help deal with every day money concerns such as household bills, credit card costs and mortgage payments.”