When a spouse dies, the family has financial issues that need to be addressed
immediately in a sensitive and caring manner. Dominion Wealth Management can
bring calm, competence, and organization to a time of duress.
Here are some of the areas where Dominion Wealth Management helps families:
Short-term cash flow – We'll help you address your immediate needs, ensure that your
family has enough cash to pay living expenses, and develop a budget and cash management
plan that works for you.
Long-term financial planning – Instead of making important decisions alone at a time
when you feel vulnerable, turn to a trusted advisor who can help you consider alternative
courses of action and put together a long-term plan that satisfies your family's situation.
Financial education – One person may have taken full responsibility for all of the family's
financial affairs, which might mean that the person now in charge has to learn an entirely
new role. We can help educate that person and set up financial systems that they can
monitor and manage.
Tax planning – We provide "bright line" tax reduction strategies (no gray areas) that
allow you to stay current with all IRS regulations while retaining the maximum possible
income. This helps ensure that your family can maintain its current lifestyle, donate to
the charities of your choice, and save more for education and retirement.
Manage risk – We can help you diversify your portfolio so the level of risk is appropriate
to your financial situation and your risk tolerance.
Insurance – Life insurance, disability, long-term care, home and auto insurance policies all need to be updated for the family's new situation.
College savings – If young children or grandchildren are involved, planning for the
high cost of their education is important. We can help you determine the best vehicles
for your investment.
Estate planning – The survivor's will and power of attorney should be updated.
Trusts, inheritances, and charitable giving should be re-visited.
Retirement planning – Despite the change in your family, you should still plan for
the retirement of your dreams. We can help you ensure that even though your life
isn't going to be what you expected, it can still be full of hope and purpose.
For a confidential conversation where we can determine if there's a fit between what
you need and how we can help, click here to make an appointment.