After losing her husband and sister within the same year, Jennifer Luzzatto felt overwhelmed by the financial and legal responsibilities she found herself with, unable to handle them despite her background in finance. With the knowledge she gained through this despondent time, Jennifer set out to help others make sense of their new financial situation after the loss of a loved one with her financial services and new book, Inheriting Chaos with Compassion.
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A certified financial planner, chartered financial analyst and NAPAFA financial advisor with over thirty years experience in financial services, Jennifer knows first hand what information can be necessary when taking on new financial responsibilities in the wake of family members passing on. Today Jennifer breaks down all the financial aspects of multiple kinds of loss to provide compassionate and valuable advice.
By working with clients holistically, Jennifer prefers to use money as a tool to support your goals, dreams, and aspirations instead of as a bargaining chip. With the right financial planning, you can structure your finances to support what you want to do with your life, and find the freedom in making your own decisions.
Don’t make quick decisions when thoughtful action is called for, prepare yourself with the knowledge to get your own finances in order, limit the grieving, and sort through a loved ones records with as minimal stress as possible. Financial planning is a whole new side of love as medicine but is a crucial step in completing the picture and gaining clarity into your own destiny.
Have you ever had to take on the responsibility of a loved ones finances after they have moved on, committed a betrayal or passed away? Share your story with us in the comments below!
In This Episode
- Which professionals you should be gathering to create your financial team
- How to prepare for the debt of a loved one in an unexpected situation
- Advice for those totally uninvolved in the finances and wanting to gain insight
- Productive ways to grieve while dealing with a new financial responsibility
- A look into executor responsibilities, power of attorney, fee-only financials and more
Quotes
“It’s amazing what occurs to you the more you start thinking about it, so at least make things easy to find if you can.” (10:32)
“That goes back to why you really need some really solid estate planning before you think you are gonna need it because someday you will, unfortunately!” (16:34)
“Listen to your instincts and back away a little bit if your gut is telling you ‘I don’t know about this’.” (19:14)
“Anything people can do to help themselves and help their loved ones is gonna be good because there is always going to be, I think, a lot more to it than anyone anticipates.” (25:55)
Links