Client PersonaWomen

Coping with Loss - Working with a Widow
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Client Persona

Jackie was blindsided by the loss of her spouse of 44 years, Bill. She’s active in church and has her small group of friends to lean on, but she had little familiarity with the family finances. Now, Jackie will become the personal CFO of her household. She will need to find the emotional strength and the financial wisdom to fill that role, which is daunting for anyone.

Objectives

Jackie needs to adapt her budget to adjustments in income relating to both pension and social security changes. She will likely need to coordinate with a Lawyer & CPA to retitle assets and perhaps simplify through consolidation while assessing debt and budget concerns.

Tools

  • Budgeting and Income planning
  • Estate Planning
  • Debt Management
  • Account Conversions
  • Social Security & Benefits Planning

Observations

Jackie will need to account for and organize assets, debts, titling of each, named beneficiaries and estate holdings.  She should consider opportunities to pay off debt, liquidate non-essential assets and set up a budget covering the new household income.

Whether you’re recently widowed like Jackie or are a businesswoman looking for comprehensive wealth and investment management, BayView is here to help. We’re a member of StrongHer Money, an educational and empowerment program focused on women, and we have the tools to help you make sound financial decisions. 

* This is a hypothetical situation for illustrative purposes only. The client is not real. Results are not real nor guaranteed. Past performance is no indication of future success.

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Want to Know More?

Do you or a loved one need help preparing for life’s unexpected twists and turns? Are you looking for help with your wealth or investments? Contact BayView today to find out how we can assist you for the future.

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StrongHer Money helps women take control of their financial lives. Mark Dutram, CPWA®, CFP®, AEP® has more than 25 years of experience helping meet the financial, retirement, and investment planning needs of families, business owners, and professionals. He is also the President of BayView Private Wealth, and one of StrongHer Money’s Advisor Ambassadors.

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We’re helping women to plan their financial future

Shannon Spotswood, President, RFG Advisory

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All investing involves risk, including loss of principal. There is no guarantee the investment process will lead to profits. Past performance of any security or strategy is no guarantee or indication of future results or performance. Market conditions change continuously.

Advisory services offered by Investment Advisory Representatives of RFG Advisory, LLC  (“RFG Advisory” or “RFG”), a registered investment advisor. BayView Private Wealth and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

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