Judy lost her husband who managed all aspects of their finances. He also never threw away any paperwork. One of the client’s closest friends and I helped her sort and discard what was unnecessary. We reviewed her plan and identified opportunities (paid off debt and refinanced her home) giving her peace of mind and the knowledge she could manage her finances successfully. She is always so grateful for the help she received and continues to express this every time we talk.

The Problem

When Judy’s husband passed, she lost more than her soulmate — she lost her financial advisor. He had always taken care of the bills and investments. He had left behind file cabinets full of paperwork, but she was unfamiliar with most of it. It was overwhelming.

The Challenge

Judy found herself in one of life’s most difficult circumstances: in the midst of coping with her grief and loneliness, she needed to understand her financial position so she could plan for her future. However, she knew she lacked the knowledge and experience to make the best financial decisions. Judy needed help.

The Goal

A top financial priority for a surviving spouse is to understand their current financial status. Was Judy in debt? Were her income and expenses aligned to keep her debt-free in the future? She needed to find these things out and take action to ensure her finances remained healthy and stable for her current and future lifestyle.

The Path

When Judy reached out for help, I advised her to look through all the files to locate current asset and liability statements, tax returns and insurance policies so I could help review and determine where she stood financially. Once we identified her assets and liabilities, I was able to advise her on how to improve her financial position by paying off her small debt, refinancing her home for a shorter-time period at a lower-rate, and buying a new car.

The Frontier Wealth Strategies Benefit

To this day, every time Judy and I talk, she mentions how grateful she is for the new confidence she feels knowing she can manage her finances successfully. Getting the right financial advice after her husband passed has given her tremendous peace of mind.

Read: Ready for Retirement Case Study