Financial Planning in Good Times and Bad

The act of preparing for an event is part of life.  Some things that you prepare for are wonderful events, where you eagerly anticipate the enjoyment and happiness when the event arrives. And there are some events in life – that even though you feel that you are prepared for – can still knock you down when they occur.

There are many emotions when working in financial planning.  Setting a plan for the future is more than just a one-time event.  It is a process.  And life can get messy sometimes and you need to alter your plan.  That is why we work closely with our clients in an ongoing partnership in order to establish a relationship to last through all of the events in your life.

Not just the good events, but the bad ones as well.

FlowersThe death of a spouse is one of the most difficult events and there is no easy way to prepare for the emotional aspect. You have a plan, you have discussed the financial aspects with both spouses, and you are prepared.  But when the event occurs, the emotions take over and the list of how to proceed gets fuzzy.

Knowing that you have a partnership with your financial advisor can ease the burden during this time.  The benefit of having a trusted professional to guide you and to understand your personal situation can ease the stress.  And the ability to work with your other professionals such as an attorney and accountant can make this transition easier.

There are many things that need to be done and the paperwork can seem overwhelming.  Such things as contacting social security to insure that your benefits will continue, health insurance issues, bank accounts updated and investment accounts modified….  These are just a few of the items that need to be addressed.  Not to mention any outstanding medical bills that may have incurred.

The probate process as well as the tax issues will also need to be addressed with these professionals, and working together will help move this process along.

Relaying on those around you who can provide the professional guidance as well as emotional support during this difficult event is paramount.  That’s what we do best, helping our clients with some of the most difficult events in their lives.

Being prepared is the best advantage to all of the events in your life.  So planning and working with someone who will guide you during these times is the key component in preparing for your future.

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About Maureen Crimmins

Maureen Crimmins is co-founder of Crimmins Wealth Management and a fee-only independent financial advisor. Have a financial question? ASK MAUREEN


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