Trusts & Estates
How Naming a Family Financial Assistant Makes Handling the Clients Affairs Easier for Everyone Involved
By: Timothy B. Borchers, Esq.
Timothy B. Borchers reccomends that clients in the 65 to 70 and older age range select a member of the family who would be their go-to person to learn the ropes and eventually assist them on financial matters. This person is not a fiduciary and has no liability per se – he or she does not have power of attorney and is not a trustee, though the person most often is the individual that has been chosen to fill such roles. The thinking here is that the Assistant is first identified as a helpmate to become involved if not right away, perhaps in the not-too-distant future, to keep the client out of the financial abyss of their later years.
To learn more about the benefits of a Family Financial Assistant, please fill out the form below.
Complete the form to get your free guide
WealthCounsel Quarterly, Volume 16, No. 1—Asset Protection
This issue of the WealthCounsel Quarterly focuses on asset protection considerations and strategies. It also invokes vibrant discussion within the member community.Learn More
WealthCounsel Quarterly, Volume 16, No. 2—Small Business
This issue of the WealthCounsel Quarterly will spur fruitful conversations with your small business clients that will result in positive outcomes for their businesses.Learn More
WealthCounsel Quarterly, Volume 16, No. 3—Advanced Estate Planning
This issue of the WealthCounsel Quarterly will assist you in implementing optimal planning for your clients considering the changes necessitated by the SECURE Act, the expected reduction of the estate and gift tax exemption amount, and the uncertainties associated with the current economic environment.Learn More