Individuals who are married or in a committed relationship face the possibility they’ll end up managing complicated finances alone at some point. Unfortunately, the first time many experience this is during a personal crisis following divorce or a spouse’s or partner’s death.
Here’s a list of thought-provoking questions pertaining to financial fitness and crisis preparedness. Use them as a starting point to check on how prepared you are to handle a personal financial crisis. Begin by reviewing the questions, determine what you’ve already done, and check those items off the list. For the questions you need to address or take action on, seek the advice of professional advisors and trusted family members.
Asset management
Estate planning strategies
Debt management
Insurance
Do I have enough insurance coverage to:
In addition …
Our firm does not provide legal or tax advice. Be sure to consult with your own tax and legal advisors before taking any action that could have tax consequences. Any estate plan should be reviewed by an attorney who specializes in estate planning and is licensed to practice law in your state.
This article was written by/for Wells Fargo Advisors and provided courtesy of Jamie Seim, CFP, Senior Vice President – Investment Officer in Ponte Vedra Beach at 904-273-7917.
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Wells Fargo Advisors is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company. CAR-0622-02373