Typical Client Situation
A recent widow may be hesitant or lack the expertise to handle finances. Planners can assist by providing knowledge and offering support. Initially, they help her ascertain how much income she can expect to receive from her late husband's pension and social security. Together, they review expenses to aid her in determining how much revenue is required to maintain a desired standard of living. Working with the client, planners develop an asset inventory and discuss possible risks within the portfolio.
How We Can Help
Afterburner Financial planners can join with the widow's attorney to assist her with re-registering assets in her name and filing life insurance claims. They can also study tax returns, helping her to understand and address all issues.
Planners can coordinate with the client to guide her in creating a comfortable income from assets. This assistance can include establishing an appropriate asset allocation based on age and financial situation. Afterburner Financial can offer advice to help the client decide what monies to give to her children and collaborate with an attorney to execute new estate documents designed to pass the estate to her children with a low tax assessment.