James R. Waters, CFP® Presented “Four Ways to Ensure Your Spouse has No Financial Worries After You're Gone”


July 30, 2014


JRW_WW.jpgThis past Tuesday, July 29th, Jim Waters of  PARTNERSINWEALTH gave a talk at the River Oaks Country Club.  He spoke before the “Tuesday Breakfast Club”.  


John J. Robinson, CPA, one of the members of this long-standing club, asked Jim to talk about a topic near and dear to many of the members: “Ensure Your Spouse has No Financial Worries After You're Gone".


Often when a spouse passes away, the surviving spouse has not only grief to contend with, but also insecurity regarding their financial resources and the legal process required when someone passes away.  No one intends on leaving their spouse isolated and vulnerable, but often couples are not sure how to properly prepare.


Jim addressed 4 key ways that couples can ensure the difficult process of losing a spouse is free of financial and legal hurdles.


  • Have a trusted estate planning attorney.  Their expertise is critical in providing a guide to the legal and administrative responsibilities after the death of a spouse.


  • Complete a “Notes to My Family” document.  This document is a resource for your spouse or other care giver. You can share key information regarding your financial situation and communicate your estate intentions.


  • Go through a “Mock” Probate exercise.  Though you feel prepared, the best way to feel confident in your estate plan is to “road test” it.  Go through a hypothetical probate process while you are still living.  You may find potential problems which can be addressed before they become a burden to your spouse.


  • Become part of The PARTNERSINWEALTH Program.  Much like having a trusted estate planning attorney, having a trusted “PERSONALCFO“ as a guide during difficult transitions can remove many financial insecurities. Couples are reassured that their PERSONALCFO will look out for their best interests, both during their lifetime and for the family members thereafter.


If you would like to learn more about this topic or would like Jim Waters to speak to your group, contact him at jrw@partnersinwealth.com or (713) 964-4028.


PARTNERSINWEALTH is a fee-only, independent advisory firm offering advice and guidance to financially successful households. Founded in 2000, PARTNERSINWEALTH helps clients with comprehensive financial advisory services including investments, income and estate tax reduction, insurance, estate and philanthropic planning and asset protection. PARTNERSINWEALTH does not accept commissions and every decision is based on the interests of clients, without regard to compensation. For a unique approach to financial management, check http://www.partnersinwealth.com/ or call (713) 964-4028.