The Truth Will Come to Light


The Truth Will Come to Light 

I am in the season of life where many dear friends and family members have become care-dependent — or have made their final transition.


Throughout my career, I have tried to offer useful information, hoping to help others live fuller, more prosperous lives. Sadly, very few families who refused to heed my advice avoided the chaos of family disputes over “stuff,” nor did they avoid the hardship of grappling with sudden financial burdens. As the old saying goes, “Some folks don’t believe that fat meat is greasy.”  Yes, I receive more calls from folks asking for information on how to correct problems rather than how to prevent problems – “ain’t that the way of the world now days.”

Let me be plain:
Family battles often start long before the funeral. They begin when a loved one can no longer care for themselves — and no clear plan is in place.

It gets even harder when:

-A spouse is also sick and needs care,

 - There are no funds nor provisions for the long-term care needed.

 -There is Power-of-Attorney officially empowered to step in to take charge.

If you recognize these warning signs in your own family, this message is for you.

As a financial planner, I’ve spent years gently nudging — sometimes boldly urging — friends and relatives to get their houses in order.
The answer is usually the same:
"Oh, we handled that years ago."

Please, know - Life changes. Laws change. Families change.
Just like you schedule medical checkups or car maintenance, your financial and estate plans need checkups too.

Recently, in reviewing a friend’s estate plan, we discovered that a universal life insurance policy death benefit was nearly depleted because of unpaid increases in premiums. Unfortunately, this frequently happens with aging people who own universal life policies.
Thankfully, we caught and corrected this problem before it was too late.

When you open your plans for review with a trusted advisor, the truth will come to light — and in that light, you can find peace, clarity, and protection for the people you love most.

Bye for now,

Brenda “Bren” Sheriff, Certified Senior Advisor (CSA)


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QUIZ: What are the main reasons people give for not having an estate plan? 

 

Answer to last week’s quiz: No, ALL veterans do not qualify for veteran benefits. Let me help you find out about your entitlements or those of a spouse.

To get a more detailed answer to last week’s QUIZ question or for any financial questions that you may have, please contact me: 773-817-0601 or basheriff1@gmail.com

Disclaimer: The illustrations presented in this column are not, nor are they intended to be, legal, financial, or any other licensed professional advice, you should contact the licensed professional of your choice for advice on your individual situation.


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