Women’s History Month

Unique Planning Challenges

Women’s History Month is celebrated in March every year.  It’s a time to celebrate the contributions that women make across all sectors of society and to raise awareness of gender inequalities.

The majority of wealth in the United States is controlled by men, but 50% of women over age 65 outlive their husbands and inherit the wealth that was formerly housed in their husband’s name.  Though less common as every decade progresses, there are still many women who have no interest in learning about financial planning until they are charged with a large inheritance.  More than half of these women over age 65 choose to remain single and rely on a trusted advisory team for guidance. 

Life insurance can provide some certainty when navigating the uncertainties of life.  We recommend implementing a personalized plan for life insurance while both spouses are alive; one that includes both joint and individual planning.  Even in a partnership, it can be wise to hold some amount of individual life coverage on each spouse to enhance a survivorship policy and provide flexibility.

We are proud to empower our clients with solutions to some of their financial challenges when they are faced with divorce from or the unexpected death of a spouse.  We strive to build trust so these difficult conversations can be simplified.  We are often one of the first phone calls that a widow (or widower) will make when they are ready to start planning after their spouse’s death.  Helping our clients navigate the life insurance claims process can be the start to wider conversations about how to plan for a future on their own.  We confer with their advisory team to explore the best proactive plan for their financial goals.  Building layers into a plan helps clients as they approach each chapter of their lives.

Contact us with any questions or opportunities to help you or your clients achieve identified goals.  This is what we enjoy doing for only a select number of families, businesses, and charitable institutions each year, and we look forward to hearing from you.