Stacy Francis Featured by Kiplinger on the Financial Steps to Take in Widowhood
By: Francis Financial
June 2, 2021
Francis Financial President and CEO Stacy Francis was invited to share her financial planning expertise with business forecast and personal finance publisher Kiplinger on the financial steps to take immediately after the death of one’s spouse.
While it may be difficult emotionally, the best way to protect yourself financially is to take action. “As bad as the emotional trauma can be, the financial trauma can be comparable and can last for much longer,” Francis explains, especially if your spouse handled most of the finances.
Francis recommends starting with a checklist. “The best way to make headway, reduce stress and lift this burden is to make a plan,” Francis advises. The checklist should include the financial documents you need and the action steps required to settle the estate.
Next, look for a financial advisor with whom you can build an open and honest relationship and who has your best interests in mind. Many people choose to change their advisor at this time, but not all people who call themselves financial advisors have the same qualifications. Your best bet is a Certified Financial Planner who is a fee-only fiduciary.
“Finding the right person or firm may take some effort, but the investment of time will be well worth it in terms of your peace of mind,” Francis recommends.