Some Ways To Assist Clients That Have Suffered A Tragedy

August 21, 2015

The death of a loved one, or any other tragedy, will put a person into a compromised position as they cope with the grieving process. Important decisions may be put off or assets wasted because the person no longer has the interest to bother with the mundane details of life due to the grief they feel at a loss. However, there are some ways that an advisor could help a client in a situation such as this.

First, take the time to check in with the client since many people withdraw from the day to day world in order to cope and will need others to reach out to them. Another good technique is to focus on the pressing issues and leave any smaller matter to a later time when the client is in a better place. Due to perceived burden, a bunch of small decisions could cause the client to lose interest in the important acts that must be done. While an advisor cannot act as a counselor, they can offer support by making sure the best interest in the client are looked after even if the client has, temporarily, lost interest in managing their affairs.

See Karen Demasters, How To Help Grieving Clients, Financial Advisor, August 20, 2015.

Special thanks to Jim Hillhouse for bringing this article to my attention.

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Estate Administration and Estate Planning - Generally