When Your Spouse Is a Moocher

Don't throw off your financial responsibilities. Plus, ways to divide your estate fairly.

My husband and I have three young children, and he doesn't think we need much life insurance. Why? Because two of my siblings are wealthy, and they'll probably take our kids in and provide for them if something happens to us. What do you think?

Your husband might be correct about the fate of your children (especially if you have named these siblings as guardians in your will), but he has the mentality of a moocher. A key tenet of ethical living is taking responsibility for yourself and your dependents. You should plan for the security of your own family as best you can, and not put that burden on others.

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Knight Kiplinger
Editor Emeritus, Kiplinger

Knight came to Kiplinger in 1983, after 13 years in daily newspaper journalism, the last six as Washington bureau chief of the Ottaway Newspapers division of Dow Jones. A frequent speaker before business audiences, he has appeared on NPR, CNN, Fox and CNBC, among other networks. Knight contributes to the weekly Kiplinger Letter.