The death of a client is never a pleasant experience, but you can employ tangible steps now to educate and prepare couples for this inevitability.
Many financial advisors understand that when it comes to wealth management, most couples do not equally share decision making roles. This disparity in client involvement and education tends to surface only when the decision maker passes away, and more often than not, it’s the wife who’s left behind to bear this burden. To a certain degree, it makes sense – with today’s aging population and increased lifespan, widowhood is becoming a reality for many women. In fact, women age 65 and older are three times more likely than men of the same age to be widowed (40 percent vs. 13 percent).