An advisor explains to Michael why both spouses need to be involved in loan decisions, even if only one is on the paperwork. If something happens to Michael, his wife will be affected by the loan outcome anyway, so the advisor wants both partners in the room to find the best solution.
His name is Michael. Michael, I totally understand that your wife's not on the loan, but this will affect your wife if something were to happen to you. It's going to affect her. So I need to talk to both of you so we can all three figure out the best solution and the best possible situation for both of you if something were to happen to you. That's what I say. And normally I don't get pushback when I'm like that. I have recently gotten the pushback on. Well, I'm the only one alone. Okay. Does your wife live with you? Does your. If it's the wife, does your husband live with you? Well, yeah. Okay, so I do want to. I do typically like to speak with both of you, and I do like to speak with both of you because it affects both of you. It doesn't affect one or the other. It affects both. But I also throw in the joke. Look, I want to speak with both you because I don't want to get in trouble, and I sure don't want you to get in trouble for making a decision without your wife there.
