Wife but no husband - now what?

[ros]

I am working on a pro bono financial plan. This couple attend my church and won the plan at a silent auction. However, the wife and husband (as I'm learning) have money issues between them. We had one exploratory/discovery meeting together. Now the wife is telling me that it would be easier if I worked only with her. (She is the primary breadwinner; he is an artist who doesn't earn much.)

I am obliged to do a plan, and I believe she will get me the data needed, since she handles the money. At the same time, I don't feel that it will be the best plan, since it will involve input from one half of a married couple.

Any thoughts on how to proceed?

Thanks,

Juan

[stenpenn]

sounds like you have quite the predicament on your hands. i guess the old saying no good deed goes unpunished holds true.

i would move forward very cautiously if i were in your position. it appears as if you are just trying to provide a complimentary service based on gift for a silent auction. you have a husband and wife who have accumulated those assets together, regardless of who provides the majority of the income. any decisions made without the input of the other spouse would be a dis-service to your "cleints". any decisions made based upon the advice your give ultimately have an impact on the other spouse no matter how significant the piece of advice may seem and therefore, that person needs to be involved in this process unless they defer to the other spouse. there could be other issues going on that you might not be aware of that could also impact the plan / advice.

i would make it clear to the wife why you feel it is important the husband be involved and that you have all information that you need to provide your service. if you continue to get the run around or feel uncomfortable, i would take a "timeout" or hit the pause button until all parties are on the same page and you have all of the information you need. you might be obliged to do the plan, but there is no time limit on your obligation.

[ros]

@stenpenn - Thanks. That was the path I was considering taking, so I appreciate the confirmation.

I know that the husband has issues around the fact that he has not been the primary breadwinner - ever - or that his art career has never taken off quite like he wishes. The initial meeting I had with both of them was very curious. The wife, who had bid for the financial plan at the auction, was very talkative and shared some intimate memories of money from when she was younger. The husband didn't share so much.

All right - I will meet with the wife and let her know I am unable to help with a comprehensive plan unless both of them are involved. Perhaps I can just offer some counsel on narrow topics of interest, like insurance or asset allocation without a full plan.

Thanks again.

[rwlarson]

Juan, Sounds like a wise move. Community property state equals community financial planning. rWL