There are four ” D words” that people try toavoid: divorce, disability, drugs, and death. Financial advisors are preparingsuccession plans all the time, but typically they are not anticipating the fourD words in that planning. Advisors providing structured business planningshould plan for these issues ahead of time before they become personal.Policies should be set to address all of these issues so that none becomes aproblem. Not planning for these things can leave a business in shambles, andpeople with nothing.
See Karen Demasters, Few Advisors Deal With Four D’s, Financial Advisor Magazine, Aug. 29, 2013.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
