Thursday, January 11, 2018
Though contemplating a life-changing event can be unsettling, death and illness can happen to anyone at any time. When the unexpected does occur absent proper planning, the consequences may be intensely magnified. Many advisors understand that focusing their clients’ attention on their final desires for health care, finances, and loved ones can take a lot of work, but say persistence tends to win out over time. Sharon Klein, president at New York metropolitan region for Wilmington Trust, comments: “The best way to plan for an event you can’t control is to put your own plan in place. Otherwise, someone else is going to be putting a plan in place for you.” While clients of firms like Wilmington Trust are usually affluent and receive individualized attention, there are a number of web-based services available for those in need of planning but who have limited resources.
See Paul Sullivan, How to Plan for the Unforeseen, The New York Times, October 6, 2017.
Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.