Financial Counseling

Managing your personal or corporate wealth in today’s volatile economy isn’t easy. Although most of us desire wealth and financial success, we face the challenge of how to achieve our goals. We can help you.  

Did you lose your spouse?.

The aftermath of your spouse's death is no doubt a difficult time for you and your family and there are usually financial matters that must be dealt with as well. But there are ways to simplify the process.

First steps

• Contact your attorney to review your spouse's will and start the estate settlement process.
• Obtain copies of the death certificate as well as your spouse's last Social Security benefit statements.
• Gather important documents and financial records (birth certificates, marriage certificates, life insurance policies).
• Contact your insurance agent to assist you with the claims process.
• Contact your spouse's employer for information on filing for benefits.
• Contact your accountant in order to be up to date with all your financial matters

Review your current financial situation

Our office can help you begin Financial Counseling after the death of a spouse. First we need assess your financial situation:

• Your current income
• Proceeds coming from life insurance policies
• What to do with any investments and retirement savings accounts that your spouse may have had.

Consider your future

This may not be the best time to make major decisions, such as to move from your current home. Take some time to think about the goals you and your spouse shared and decide how your goals as an individual may change
• If you still have dependents at home, can you provide for them by yourself?
• Will you continue to contribute education for your grandchildren’s?

Other financial questions to consider

In addition, you may wish to discuss the following questions with your attorney or tax professional.
• Have you reviewed and changed beneficiary designations as appropriate?
• Is probate necessary? Have you filed the appropriate tax returns?
• Have the tax consequences of making gifts been considered?
• Have you evaluated your tax filing status?