Financial Planning for Illness and Death

Goldstein on Gelt

Financial planning is always important, but it’s especially crucial when health issues arise. A well-built plan allows you and your family to focus on health and family connections, without worrying about the day-after. How can you make sure you are setting yourself up for a smooth transition of wealth to your family?

Tune in and learn about the nuances of managing shared accounts, the pros and cons of transferring control to family members, and the critical role of clear communication in preserving both wealth and relationships.

Some key insights:

1. Learn how to effectively shift financial authority to a trusted individual within the family, balancing legal necessities with personal dynamics.
2. Learn about the importance of transparent discussions about financial matters with family members, especially in light of health changes.
3. Discover some of the tools available, such as powers of attorney and trusts, that allow your wishes be followed.
4. Professional advice from financial and legal advisors is crucial in creating a seamless and effective estate plan that aligns with your long-term goals.

For more information, visit the show notes at https://goldsteinongelt.com/personal-finance/financial-planning-for-illness-and-death