Are Your Family’s Finances a Team Effort?
Some of the stories from financial planners are heartbreaking.
A man in his late 50’s passed away after a two-year bout with cancer. Even though he was terminal, his wife never made the effort to understand the couple’s finances. Within a year of her husband’s death, she lost the family home and had to move in with her children.
Another man unexpectedly ended up in the hospital in a coma. When his wife called their financial advisor to get access their accounts to pay bills, the advisor told her he couldn’t even discuss the accounts with her. She was on the account as a beneficiary, but not as a joint account holder.