Losing a spouse can be very difficult. Shaun can help a couple financially prepare in advance of the death of either spouse.

 

CLIENT SITUATION

A recent widow may be hesitant or lack the expertise to handle finances. Shaun can assist by providing knowledge and offering support. Initially, he will help her ascertain how much income she can expect to receive from her late husband’s pension and social security. Together, they review her expenses to aid her in determining how much revenue is required to maintain a desired standard of living. Working with the client, Shaun develops a list of her assets and discusses possible risks within the portfolio.

Shaun joins with the widow’s attorney to assist her with re-registering assets in her name, filing life insurance claims, and reviewing her estate planning needs. He also studied their tax returns, helping her to understand and address all issues.

Shaun coordinates with the client to guide her in creating a comfortable income from her assets. This assistance includes establishing an appropriate asset allocation based on her age and financial situation. Make Work Optional offered advice to help the client decide what monies to give to her children and collaborates with a solicitor to tender new estate documents designed to pass the estate to her children with a low tax assessment.

When procedures and processes are complete, the client files the documentation in Annuity Strategic’s electronic vault, comforted everything is in order for her children.

The Moral of the Story: Don’t deal with the death of a spouse alone.