Help from a financial planner can be so powerful – especially in trying times

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Help from a financial planner can be so powerful – especially in trying times

Lifetime news

Posted on: 03/01/2021

The help given by a financial planner can be so powerful – especially in times of need.

That was certainly the case for clients of Lifetime adviser Steve Baskind (pictured).

Steve first met the clients, a husband and wife, in the autumn of 2019.

The wife, aged 60, was unfortunately diagnosed with a terminal illness. She was very worried how her husband and family would cope financially, as he could no longer cope working with the situation.

Says Steve: “Lifetime’s financial planning software showed that the husband was financially secure, he could give up work and could focus on caring for his wife. That was certainly welcome news.

“During this process it was noticed as well that there was no death benefit nomination on the old pensions for the terminally ill client. This was corrected very quickly and meant the pension funds were distributed to her husband according to her wishes.

“Sadly the wife did pass away a few weeks later, but the husband at least had the comfort of knowing that he and the rest of the family were financially secure.

“Since then we continue to advise the now retired husband on how best to access his late wife’s pensions in a tax efficient manner and not have to worry about running out of money.”

 

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