Silent Partner

It’s pretty much understood that planning for the future with products such as retirement packages and Life Insurance are necessary in today’s world. Nobody wants to leave their family members scrambling to come up with funeral expense funds in the wake of losing a loved one!

So, you’ve taken care of this, and that’s great! You have the best interests of your spouse, or children in mind and you have taken definite steps to make that inevitable occurrence a little easier to handle. However, one thing many people neglect to consider is how arduous the process can be when it comes to filing paperwork and handling claims. Especially because sometimes the family members left behind aren’t fully aware of what kinds of plans/policies their deceased loved one even had!

This is where something called a “Silent Partner Program” can really come in handy.

A Silent Partner Program is just another term for an Executor Planning Document and is a way to keep family records organized and up-to-date. This will take a lot of the stress away from someone who is going to be grieving and may find it difficult to navigate the planning process ahead of them.

Many people find it difficult to compile this information and share it with their family members, but fortunately, a number of Retirement Planning companies provide a structured program to manage all of this data.

Usually, a representative from the company will meet with you one on one and walk you through filling out all necessary documents. This will likely include details on the following personal information:

•             Personal Documents

•             Survivor’s Guide

•             Family Data

•             Safe Deposit Box Inventory

•             Contacts

•             Budgeting

•             Additional Sources of Help

•             Personal and Financial Security

As you work together to gather all this data, you will no doubt start to realize how important it is to have this available to those who care about you most!

When all the details are correct and finalized, a number of copies of this document will be created to be kept by the necessary individuals. You will keep one copy for yourself so that you can refer back to it annually and make sure it’s still up to date. Another copy will go to your “Silent Partner,” the person who will be using this information in the event of you becoming disabled or passing away. A final copy will be kept by your retirement planning agency. Your representative will check back with you periodically to see if you need to execute any changes to the information, in which case a new document will be created and distributed. This representative will also be the point of contact for your family members when the time arises to use the information contained in the document.

Just like a will or a Life Insurance policy, a Silent Partner Program is an essential step in looking out for the future of your loved ones. It’s a simple service that many companies provide for free to you and your family.

Why not start working on yours today? http://www.cornerstonewealthsc.com/silent_partner.php

One thought on “Silent Partner

  1. Pingback: Lost Life Insurance Policies | Cornerstone Wealth and Tax Advisory Group

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