We are proud to have created a relationship where we were able to work alongside the client in one of the most difficult times in her life.

The wife of successful salesman becomes a widow. She earned a moderate income on her own, but was dependent on her spouse’s income. They did not have a financial plan or estate plan.

When the husband passed away, she was referred to TrustCore. She was lost both emotionally and financially. With the enormous task of closing an estate and learning about her financial situation, she was trying to make prudent and efficient decisions in the short term, knowing it would affect her in the long term

TrustCore involved an estate attorney that could help the widow close her husband’s estate and create estate documents for the widow.

TrustCore dug into her financial situation, learning of assets and debts she wasn’t aware of. TrustCore also worked to understand the remaining income she could expect from previous sales that her husband had closed. This included calculating estimated taxes and making prudent decisions with these final pieces of her husband’s income.

Tax planning became a priority, because any amount of money saved in taxes in the last year of her husband’s income would be vital to her new financial plan. Tax saving options pursued included maximum contribution to her 401k and a SEP IRA contribution on the 1099 income she received. TrustCore also recommended pulling as many deductions into the tax year as we could, including paying property taxes early and prepaying the next year’s charitable giving.

For greater peace of mind, long-term planning was something she desperately wanted. TrustCore projected her income and expenses and then continually refined those projections over the next 12 months. We were able to lay out options and recommendations that could make her financial plan successful.

We are proud to have created a relationship where we were able to work alongside the client in one of the most difficult times in her life. We helped her feel comfortable financially through the creation and implementation of a comprehensive financial plan.