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Liverpool Echo
Liverpool Echo
World
Ian Hughes & Sophie McCoid

Money Saving Expert Martin Lewis' warning to every couple in UK

Money Saving Expert Martin Lewis has urged couples to have an important conversation about a certain issue before it is too late.

Martin has told couples to have a conversation about money, before one of them passes away.

Speaking on his ITV programme, the Martin Lewis Money Show, he said often one person in a household will be in charge of finances.

But according to the personal finance guru, this can leave loved ones in the lurch should the worst happen - reports Northants Live.

The one in charge should therefore make a list of all the household's financial information, not including any sensitive details.

Couples should then sit down and run through the list to make sure everyone understands what's what.

Martin said: "I can't tell you the number of times - it's generally women but not always - have said [to me] I've lost my husband and I do not know how to deal with finances.

"And I'll always remember one case of a woman who stopped me in the street in tears because her husband had died two months before.

"She couldn't pay the mortgage because she didn't know where the savings were.

"This is a really important point, it's what I call the three Ds - death, divorce, dementia.

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"They are a risk, and so if you're the one that looks after the family finances, that's fine - but make sure there's a financial fact sheet that lists all the information and all the relevant products.

"And make sure you go to your partner, and say to them this is what will happen.

"Make sure they at least understand it in case they're not managing it."

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