Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Friday, July 5, 2019

How to Talk to Your Financial Advisers About a Chronic Illness

MeetingThere are plenty of misconceptions about chronic illnesses, and as a society Americans do not understand how to deal with others that are facing them. If you or are loved one is facing a chronic illness, financial advisors should be made aware so that appropriate planning can be performed in a safe and comfortable place.

Many people believe that chronic illnesses are only an ailment of the elderly, but the truth is that 60% of those living with one are between the ages of 18 and 64. If you are living with a chronic condition, before you even meet initially with your financial advisor, you should make them aware if they should supply any necessary accommodations. As empathetic as a your advisor may be, they may not understand the physical assistance your disease or condition may require you to need. If there are cognitive impairments or a neurologist condition, ensure that your financial advisor understand what your needs are and where mental ability stands.

Clients should give advisers express permission to ask any questions so that they can understand all your needs and provide as comfortable a meeting as possible.

See Martin Shenkman, How to Talk to Your Financial Advisers About a Chronic Illness, Forbes, July 5, 2019.

Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.

https://lawprofessors.typepad.com/trusts_estates_prof/2019/07/how-to-talk-to-your-financial-advisers-about-a-chronic-illness.html

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