End of Life Planning
Whether we choose to acknowledge it or not, each of us will ultimately meet our end. While this is not generally a topic that is discussed outside of a general insurance review or assessment, at Redwing Financial, we feel that planning for your ultimate passing - well in advance - is a responsible practice that can provide your heirs a clear-cut plan for when that day comes.
Often, financial advisors and attorneys will focus on estate planning centered on the manner of passing assets from one generation (or person) to another, taking into account current tax laws, fairness or favor among heirs, and the eventual ease and simplicity in doing so. This can serve to make the passing of assets simple and seamless once the individual has passed; however, we feel it falls short of the full consideration of the impact of the passing of a friend or family member.
Settling an estate - regardless of the size of the estate - generally involves considerable and careful preparation of documents, thoughtful and empathetic conversations, and most importantly, helping the survivors maintain structure and organization in their financial and life affairs. As the days, weeks, and even years following the loss of a loved one pass, life still needs to carry on for those left behind - from paying bills to managing household affairs to returning to the altered normalcy of daily life. At Redwing Financial, we work with our clients to develop a robust lifestyle continuity plan to ensure that all the routine obligations of life are met for and by the survivors.
We also recognize that mourning individuals often fall victim to predatory practices - be that in the upselling of a specific casket or headstone, insisting that insurance policy proceeds be assigned to the funeral home, or even by certain family members. To that end, we feel it is important to ensure that everyone has a clear understanding of the wishes of the individual, which should be in writing and kept with important family documents. We encourage individuals to review their lifestyle continuity plan and final wishes with either their heirs or the individual who will ultimately be designated as the executor of their estate.