Navigating Loss & Building ConfidenceHighlights from Part 1 in Our 'Building Confidence' Event Series

4/7/2023 - By Sarah Horne

Our Saltmarsh Financial Advisors hosted a discussion on Navigating Loss and the spectrum of challenges heirs can encounter. The panel included professionals in financial planning, estate planning, tax, hospice and mental health, all offering a different perspective on the topic. A few central themes emerged during the conversation that we wanted to share for those who were unable to attend. 

Be Proactive 

It is critical to establish an estate plan early, while mentally sound. Our panelists recommended that you have an estate plan regardless of the size of your estate. Then review your plan periodically as laws change or you experience significant life events. Your financial and tax advisors can help determine potential estate planning needs and recommend an attorney to assist. Common estate planning documents include a will, power of attorney and an advanced healthcare directive. More complicated situations may warrant advanced strategies. Saltmarsh Financial Advisors has created an Asset Inventory Checklist to help in preparation for meeting with an Estate Attorney.

Heirs - Gather a Team You Trust

For heirs, navigating loss is difficult. Unfortunately, during this time you’re going to be encountering some legal and financial situations that you’ve likely never thought about. That is why it's important to work with experts you trust. Your advisors can give you options and guidance during a time that may be difficult to think clearly. 

If you’re in charge of settling the estate of someone who has passed away, there are some responsibilities you should be aware of as the time commitment can be extensive while at the same time, you still have your own personal affairs to tend to. In order to assist with the process, Saltmarsh Financial Advisors has created a Final Wishes Guide & Worksheet to help you get informed and organized.   

Ask For Help

Grief manifests in different ways and at different times. Lean on your advisors and ask for help if you encounter challenges with bereavement and grief.  We encourage you to include a mental health professional as part of your trusted team of advisors. Emotions surrounding loss can be surprising and even confusing. Your emotional health should be a priority and know that it's okay to ask for help. Everyone grieves differently and on their own timeline. A mental health professional can help you understand how to deal with your emotions in a healthy way in order to move forward.

We would like to thank the excellent panelists for their contributions and efforts:

What’s Next?

This event was the first installment of the new women-focused event series called, 'Building Confidence'. This series is not exclusive to women, as the knowledge shared is designed to facilitate dialogue on topics all clients may encounter throughout their lives. 

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