Valley Financial Group has been established for over 30 years, and for the last five, we have been on the financial planning side of the industry. When we began our financial planning careers, we thought many things would be challenging, like finding new clients, developing a financial plan in our clients’ best interest, and managing a business. However, the hardest aspect of our occupation is when clients pass away. Sometimes you have your head down, running so hard to help build a business, help people, and don’t realize your building an extended family.
Like a parent or sibling, clients call when they have concerns, debate, say thank you, tell us about their families and vacations, but most calls are to see how we are doing. Our job is to help our clients, but the interesting reality is that they help us in the game of life and be better at our craft.
Clients make you realize it’s not all about numbers and charts. It’s about people. Yes, the numbers and charts matter, but they matter so much more when you factor in “Mr. Smith’s” family and friendship. We have heard many times don’t mix money with family and friends. The interesting part at Valley Financial Group we do it every day.
When a client passes away, our job is to make sure their families are relieved of the financial burden and worries of losing their loved ones. The planning was done years in advance, and if we do our job correctly, our client’s loved ones knew that plan years ago. Here are few essential items to consider:
· Draft a Will
· Appropriate Life Insurance
· Make sure Beneficiaries are correct
· Make sure your loved ones understand your financial plan. (It’s hard to speak about death out loud, but it must be done)
· Share with loved ones where your essential documents and password to accounts are stored/located
· How your bills will be paid in your absence. An example, consider designating a bank account payable on death to a beneficiary.
· What are your burial wishes?
Last week, we had to say goodbye to a client. The office and team loved this person; he was everything you want in the client and a friend. We want to thank him and our other clients for bringing great joy into our lives and allowing us to be part of their lives. This industry is nothing without the people.