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| Seven Presidents Park, Long Branch NJ |
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Objective: No one wants to go through the pain of losing a loved one. Without proper planning, the aftermath of such a loss can be nearly as devastating as the loss itself. While we work with you to plan for the financial aspects of such a loss, we also work with you to plan for the personal outcomes of the loss of a loved one.
Process: The cash flow analysis that you’ve completed enables us to examine the resources needed in the untimely event of one spouse passing. While this is probably the most difficult issue to discuss and plan for, a properly completed survivorship analysis and implementation of recommendations from the analysis can provide a surviving spouse or other family members with much needed peace of mind during such a trying time.
Like the retirement analysis, we analyze the surviving spouse's expected income from salaries, pensions, Social Security, and all other sources and balance those against your cash flow needs. We compare those needs to your balance sheet to determine what assets are available to help fill the gap, if any exists. If it appears as though an additional shortfall exists, we might recommend supplementing your balance sheet with life insurance or other assets. We work with you and outside product providers as a team to determine which products best suit your needs. Because we sell no insurance products, we can work with any insurance company to find the best product for you.
Importance: Survivorship planning can be very complicated and it's a difficult topic for couples and families to discuss. Often, it's never even discussed, much less, planned for. When we work with you, we can provide objective advice based on sound analysis and without any strings attached. In some cases, we may recommend the purchase of additional insurance, but we do not sell any insurance products. We can work with you to shop for the insurance that will best meet your needs in both the long and short-terms
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