Losing a Loved One
This is a delicate life stage that requires understanding and sensitivity. The best case scenario from a financial perspective is to do the hard work now and simplify the process for your family.
There are two primary aspects of financial planning that could happen at this stage:
- Preparing for or responding to the loss of a loved one, or
- Preparing your loved ones for losing you.
During times of mourning and grief it is more difficult to stay on top of details pertaining to wills, inheritance, and transitioning assets.
Our financial advisors serve as caring guides through these difficult times and ease the burden of managing the minutia such as tax considerations, filing deadlines, and the various legal issues relative to settling your estate.
The best case scenario from a financial perspective is to do the hard work now and simplify the process for those who will administer your last requests.
We can help you plan for these circumstances and be there to walk alongside your loved ones as they mete out the particulars of your wishes.
There are a myriad of things to consider in this process including:
- Do I have a plan?
- Have things changed since I last updated my documents?
- Do I have all of the necessary documents – will, power of attorney, medical directives?
- Who is my executor, power of attorney, and medical-decision maker and do I have a back-up?
- Do I (and my executor) know where all important documents are located?
- What kind of life insurance is in place, if any?
- Estate settlement details
- Educating beneficiaries
- Will my survivor’s budget need to change?
- How will my investments be managed beyond my death?