Individuals and Trusts

August 20, 2012

Investing and Financial Planning for Individuals

Whether you’re single because you’ve never married, or are suddenly single due to divorce or death of a spouse, money management and financial planning are critical. You have only yourself to depend on for income, goal-setting, decision-making, and retirement planning.


Divorce can be devastating not only to your emotional state of mind but also to your finances. You will lose many of your assets, your credit will sometimes suffer, and you will find yourself forced to reassess your entire financial picture.

Always remember that while this may be a very difficult time, it does not mean that you cannot recover. A financial plan can help you evaluate your current financial affairs, and help you determine your short term and long term goals.

Never Married

If you are single and have never been married there are several factors you need to consider when making financial decisions. Here is a list of some of the things you should consider:

Disability: Because you don’t have a second family income, it’s very important that you protect your income-generating power by buying long-term disability insurance, and if possible, short-term disability insurance.

Wills: If you own anything of value (car, jewelry, house or condo, computer, savings account, etc.), you should have a will specifying who will get your belongings if you die. If you have children, a will is an absolute must, because it’s the method for designating a guardian for them.

Death of A Spouse

The death of a spouse at any age is one of the most difficult life circumstances you can face. Dealing with your finances at such an emotional time is especially difficult yet critical. One of the earliest and biggest issues to be addressed is cash flow. Death benefits need to be identified and applied for as quickly as possible.

Trust Accounts

Whether you are the beneficiary or trustee of a Trust, we can help you manage Trust assets using prudent investment practices and fiduciary standards. Trusts accounts may range from living trusts, irrevocable trusts, marital trusts, family trusts, medical trusts, etc.

Useful Links:

How to Distribute Retirement Assets Settled in a Divorce

A Better Model for Divorce

Introduction to Trusts

Estate Planning Musts for Unmarried Couples

Leave a Reply