Financially Ever After Widowhood

Latest Episodes:

I’ve Got the Power! (of Attorney) with Brian Corrigan Aug 08, 2023

Show notes

Brian Corrigan is a seasoned expert specializing in trusts, estates, and fiduciary litigation. He brings a wealth of knowledge from his experience handling a diverse range of Surrogate Court matters, including will contests, contested accounting, fiduciary removal and surcharge, and discovery proceedings. With a primary focus on the implications for financial matters, Brian explains how a power of attorney, or an attorney in fact, is pivotal in decision-making on behalf of someone who becomes incapacitated. He joins Stacy Francis to offer key insights into common challenges, New York's legal adjustments, and protective measures against potential misconduct.

The choice of a power of attorney plays a critical role, particularly in the context of financial decisions during incapacitation. It’s important to select a responsible and trustworthy person, capable of meticulous record-keeping.
Understanding the legal nuances and state-specific requirements related to power of attorney is a must. In the absence of a power of attorney, alternatives like guardianship proceedings, though expensive and invasive, may become necessary.
To counter potential misconduct or abuse by unscrupulous agents, it’s recommended to appoint a monitor who can review the transactions performed by the agent and ensure their propriety.
A contingent power of attorney can step in if the primary agent is unavailable. You should have clear and open conversations with potential agents about their willingness and understanding of the responsibilities involved.

Resources

Brian Corrigan on LinkedIn | Farrell Fritz | Email | T: 646-237-1804

Farrell Fritz

Defensive Estate Planning

Stacy Francis on LinkedIn | Twitter

Email: stacy@francisfinancial.com

FrancisFinancial.com

Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!

Empowering Families in End-of-Life Decision Making with Alison Arden Besunder Jul 25, 2023

Show notes

When faced with a terminal illness diagnosis, your emotions can be overwhelming. You still need to navigate the legal aspects, however, to ensure that you and your loved ones are protected. Stacy Francis’ guest this week is Alison Arden Besunder, a partner in charge of the Trust and Estates department at Goetz Fitzpatrick. Alison has extensive experience in guardianship and estate litigation. She joins Stacy to discuss end-of-life planning, including steps to take when the timeline is limited. Stacy and Alison delve into navigating the healthcare system, and the importance of having critical documents in place to convey your medical wishes clearly.

Highlights from this episode:

Ensure you have a healthcare proxy and living will in place to appoint someone as your medical decision-maker and provide evidence of your end-of-life intentions.
Discuss end-of-life decisions openly with your loved ones, promoting a foundation of good communication to handle high-stress situations effectively.
Even with your best efforts, you may feel helpless when dealing with a loved one's illness, but remember that your support and care are invaluable during these challenging times.
Avoid burnout as a caregiver by setting boundaries and not taking on more than you can handle. Seek support from therapists to manage the emotional burden effectively.
Find the right caregivers for your loved one by tapping into resources like personal needs guardians or geriatric care managers who can connect you with experienced aides.
When navigating end-of-life care decisions, ask questions and advocate for your loved one to ensure the best possible care and treatment options.
Bioethics committees in hospitals can offer support and assistance in decision-making, especially in challenging end-of-life care situations. They can help translate medical jargon and provide guidance to both physicians and families.
Even without a living will, there are other forms like MOLT (Medical Options for Life-Sustaining Treatment) or PULST (Physician Orders for Life-Sustaining Treatment) that can be used to make end-of-life decisions in a hospital setting.
Navigating end-of-life decisions for pets also requires careful consideration, and sometimes there may be disagreements between family members on the best course of action.
For anyone facing end-of-life care decisions or other financial challenges related to medical care, seeking guidance from financial advisors can be crucial to manage expenses and make informed choices.

Resources

Alison Arden Besunder on LinkedIn | Facebook | Twitter

Goetz Fitzpatrick | LinkedIn

Phone: 212-695-8100 x289

Stacy Francis on LinkedIn | Twitter

Email: stacy@francisfinancial.com

FrancisFinancial.com

Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!

The Art of Giving with Mindy Stern Jul 11, 2023

Show notes

Charity is not just about giving; it's about making a difference. In this enlightening episode of Financially Ever After Widowhood, Mindy Stern joins Stacy Francis to discuss all things philanthropy. Mindy is a partner at Schwartz Sladkus Reich Greenberg Atlas LLP, specializing in real estate and estate planning. She has a passion for helping clients make a difference with charities during their lifetime and in their wills. She shares her wealth of knowledge on charitable giving, including insights into the intricacies of donations, the importance of understanding the mission of the institutions you support, and the impact of thoughtful giving.

You’ll hear Stacy and Mindy discuss:

The importance of aligning your charitable contributions with your personal mission. Mindy says that donors need to think through all aspects of their giving, including the potential impact on their estate and personal privacy.
Institutional flexibility in using donations. Mindy explains that while institutions will do everything possible to preserve the mission for which the money was given, there may be circumstances where this becomes impossible. In such cases, institutions need to have a "plan B."
"Giving big" can have a tremendous impact on both the donor and the recipient. This approach to giving can provide a lot of flexibility and support to the recipient organization.
The more specific a donor is about the use of their funds, the more difficult it can be for the institution to ensure that the funds are used exactly as the donor wishes.
The role of planning and considering other assets in giving. These conversations can provide a window into the donor's life, revealing what they value and collect, such as antique dolls or cars.

Resources

Mindy Stern on the web | LinkedIn

Email: mstern@ssrga.com

Phone: 212.743.7028

Stacy Francis on LinkedIn | Twitter

Email: stacy@francisfinancial.com

FrancisFinancial.com

Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!

Paving Your Path to Peace with Anne DeButte Jun 27, 2023

Show notes

Anne DeButte is a respected and empathetic grief coach, author, and podcast host. She has made significant contributions to the field of grief counseling through her comprehensive approach to helping people navigate through their unique grief journeys. Her book, Grief's Abyss: Finding Your Pathway to Peace, encapsulates her insights on the impact of grief and offers practical advice for those who are navigating this challenging life experience. In this episode, she guides people through their healing process by debunking myths, offering strategies for coping, and emphasizing the importance of support and internal work.

Contrary to the adage, time does not heal all wounds. As such, distracting yourself from grieving a loss by filling your schedule may not always be beneficial. The grief journey varies greatly among individuals and rushing the process may only delay true healing.
Grief affects individuals mentally, physically, emotionally, socially, and spiritually. Healing requires internal work, such as understanding your stress levels, acknowledging and expressing emotions, and seeking help when necessary.
Isolation during grieving periods can be harmful. It's vital to seek support from friends, professionals, or community groups, especially those who can empathize with the experience of loss. This support is not just for advice, but more crucially, for understanding and companionship through a difficult time.
Strategies like meditation, journaling, and breath work have been proven to help with the acute pain of grief. Incorporating them into your routine as daily activities may help you get through the day.

Resources

Anne DeButte on LinkedIn | Twitter | Facebook | Grief’s Abyss: Finding Your Pathway to Peace

Let’s Talk About Grief with Anne DeButte

UnderstandingGrief.com

Stacy Francis on LinkedIn | Twitter

Email: stacy@francisfinancial.com

FrancisFinancial.com

Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!

Honoring Memories: Organizing Belongings with Love and Purpose with Janine Sarna-Jones Jun 13, 2023

Show notes

Are you struggling to sort through your household items after the loss of a loved one? It's not just a matter of spring cleaning; it's an emotional journey that requires empathy and support. In this episode of Financially Ever After Widowhood with Stacy Francis, Janine Sarna-Jones, organizational maven, shares her expertise on navigating the process of dealing with a partner's belongings. She and Stacy explore the balance between keeping reminders and avoiding a mausoleum effect, and the importance of making thoughtful decisions about items with a future life. Janine offers valuable insights on honoring memories while finding space for joy.

There is no predetermined timeline for sorting through your partner's belongings after their passing. Take the necessary time to mourn and be emotionally ready for the task.
Going through your loved one's items can bring up memories, thoughts, and feelings. It's a process that allows space for grieving and healing.
Finding a balance between keeping reminders and creating a space that brings joy is essential. Curating meaningful items and letting go of the rest can help you maintain a healthy environment.
If moving to a new space, avoid making hasty choices in the midst of grief. Moving should be a well-thought-out decision that aligns with your long-term goals and financial capabilities.
Making thoughtful choices about items that can benefit others allows for a sense of purpose and ensures that belongings don't end up in the landfill. It's an opportunity to make a positive impact beyond personal grief.
Items can be given a future life through donation to charities, animal shelters, and nonprofit organizations.
Clothing and personal items can be repurposed and given new life. Tailoring clothes to fit yourself or transforming them into quilts or memory pieces can be a meaningful way to honor memories.
There are no rules on how to deal with the personal effects of someone you love. Each person should find a way that brings them comfort and preserves the memories in a way that feels right for them.
Kindness and self-compassion are essential during the grieving process. It's important to show yourself the same understanding and grace when navigating the challenges of sorting through belongings.
Seeking support from professionals and involving your friends and loved ones can make the organizing process more manageable, physically and emotionally.

Resources

Janine Sarna-Jones on Website| LinkedIn | Facebook | Instagram

Estate Clearance Checklist PDF Download

Donations and Waste: Junkluggers

Selling Items: Craigslist | Ebay

Making Clothes into Quilts and other items: Memory Stitch

TV Shows: The Gentle Art of Swedish Death Cleaning

WHAT DO YOU DO WITH ALL OF THE STUFF WHEN YOU LOSE A LOVED ONE?

Stacy Francis on LinkedIn | Twitter

Email: stacy@francisfinancial.com

FrancisFinancial.com

A Financial Guide for Widows

Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!

Navigating the Maze of Grief with Joy Rosenthal May 30, 2023

Show notes

In a world where loss and grief often appear as villains, there are those who embody the spirit of resilience. On this episode, Financially Ever After Widowhood, Stacy Francis welcomes Joy Rosenthal - a woman who turned her own personal tragedies into catalysts for compassion, empathy, and strength. Joy is a seasoned lawyer, divorce mediator, and an educator at the CUNY School of Law. In this episode, she's sharing her personal journey as twice a widow. Through heartbreaking losses, Joy discovered her innate strength, resilience, and most importantly, her capacity for compassion. She recounts her experiences, revealing how she navigated the maze of grief, and how these experiences fueled her work and personal life with a newfound fervor.

Joy lost her first husband just six months into their marriage. As she rebuilt her life and found love again, she experienced another devastating loss with the death of her second husband during the COVID-19 crisis.
Despite the overwhelming grief of losing two spouses, Joy shares how she learned to draw on her inner strength. This resilience helped her not only survive these difficult experiences but also to continue showing up for life every day.
Having a support system is invaluable. Joy found solace in her community during times of grief.
Joy’s personal experiences with loss have fundamentally shaped her outlook on life. These experiences allowed her to lead with compassion, and in turn, profoundly impacted her professional work as a lawyer and mediator.
Her job at Legal Aid, where she was engaged in extensive reading and writing, helped Joy process her grief after her first husband's death. She underscores the importance of a balanced work environment that allows space for coping with loss.
A recurring theme throughout Joy's narrative is the importance of keeping going and staying in motion. Her determination to persist and rebuild her life after each loss is an inspiring takeaway for listeners grappling with their own losses.
Joy advised that women dealing with similar situations should assess their capabilities, desires, and circumstances, and adjust their work life accordingly. She emphasized the importance of patience and understanding during this process.
Seek help to manage paperwork and administrative tasks, which can be overwhelming during a time of grief.

Resources

Joy Rosenthal on Website| LinkedIn | Facebook | Instagram | Linktr.ee

Email: joy@joyrosenthal.com

Phone: 212-532-4704

Stacy Francis on LinkedIn | Twitter

Email: stacy@francisfinancial.com

FrancisFinancial.com

Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!

Organizing the (E)State of Your Affairs with Amy Holzman May 16, 2023

Show notes

Amy Holzman is a seasoned trust and estate attorney with over 25 years of experience. Specializing in estate planning and administration, Amy prepares wills, trusts, estate and gift tax planning, and healthcare proxies, for a wide range of clients including US citizens, international families, and LGBTQ+ clients. In this episode, Amy and Stacy Francis discuss the ins and outs of estate planning. Amy shares key considerations for single mothers with young children, highlighting the importance of appointing a capable and willing guardian for minors, the use of trusts for managing children's inheritance, and other critical elements of estate planning.

The cornerstone of any will for parents with young children is appointing a guardian. This person should be capable and willing to raise the child in case something happens to the parents. It's also critical to have a detailed letter outlining how the child should be raised, to prevent family conflicts and misunderstandings later.
Trusts are a viable way to manage and protect children's funds. Parents need to choose a responsible trustee, who can be guided by a financial advisor, to ensure that the child's funds are used appropriately.
Healthcare proxies should be in place for children over 18. For families with substantial wealth, early gifting can help preserve wealth for future generations. Revocable trusts can also be used to avoid costly court procedures.
Setting up a Roth IRA for children, regardless of whether they have income, can provide them with a financial head start. Moreover, parents should talk to their children about financial matters to prepare them for financial responsibility in the future.

Resources

Amy Holzman on LinkedIn

Email: info@trustwillpower.com

Law Offices of Amy Holzman

Stacy Francis on LinkedIn | Twitter

Email: stacy@francisfinancial.com

FrancisFinancial.com

Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!

Estate Planning 101: Everything You Need to Know with Laura Cowan May 02, 2023

Show notes

Many people believe that estate planning is only for high net worth individuals. But as Laura Cowan and I discuss in this episode of Financially Ever After Widowhood, having an estate plan is crucial regardless of your financial situation. Laura is a trusts and estates attorney based in Midtown Manhattan, and the founder of the Law Office of Laura Cowan. She joins me to dispel some common myths around estate planning, including why it’s important to have a healthcare proxy and power of attorney in place, and why planning is particularly important for unmarried individuals with limited resources. Laura also provides insights into the key documents involved in estate planning and the factors to consider while selecting the right trustee.

You’ll hear Laura and I discuss:

Estate planning is not just for the wealthy, and having an estate plan is important for everyone, regardless of their financial status.
Unmarried individuals with limited resources should prioritize estate planning as they might not have the resources to deal with any unexpected events. Furthermore, planning is more complicated for them as they don't have the option to leave everything to a spouse and children.
The healthcare proxy and financial power of attorney are crucial documents in estate planning as they enable someone to make medical and financial decisions on your behalf if you are unable to do so.
The person you choose as your financial power of attorney should be someone you trust because they will have the same power over your assets that you have
A living trust can be a better option than a will because it avoids probate, which can be expensive, time-consuming, and a public process. Trusts can also provide privacy, ease of distribution, and the ability to set up guardrails for how and when your children inherit your money.
A trustee does not need to have expertise in investing or managing money and can hire outside professionals for help.
Factors to consider when choosing a guardian for minor children include their values, morals, and potential changes in their marital status. Even if children are older, it is important to name legal guardians in a will to ensure that their best interests are met.

Resources

Laura Cowan Website | Instagram

Email: Laura@LauraECowanLaw.com

Phone: 212-760-2956

Talk with Laura about setting up your estate plan

Stacy Francis on LinkedIn | Twitter

Email: stacy@francisfinancial.com

FrancisFinancial.com

Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!

Taking Control of Your Finances After Widowhood with Kathy Gleason Apr 18, 2023

Show notes

Are you struggling to cope with the loss of a spouse and the financial challenges that come with it? In this episode of Financially Ever After Widowhood, host Stacy Francis speaks with Kathy Gleason, an author and grief support expert with a deep understanding of the struggles that come with losing a spouse. Kathy is also co-host of the As I Live and Grieve podcast. Kathy details her personal journey of loss, including the challenges of managing the paperwork and red tape that come with it. She also shares valuable insights and practical advice on how to navigate the financial challenges of widowhood.

Losing a spouse is a complex and devastating loss that brings many unique challenges, including the loss of future plans and the added responsibility of managing all the paperwork and red tape that come with it.
It's important to surround yourself with supportive people who understand what you're going through and can offer emotional and practical support.
If you are not the partner who manages the finances, it's important to make yourself aware of what accounts and assets you have in case you need to take over in the future.
It's common for married couples to not make long-term financial decisions together, but this can leave one partner at a disadvantage if they need to take over after a spouse's passing.
Prioritizing tasks and taking care of practical matters can help you begin to work on yourself and heal after a loss.

Resources

Kathy Gleason Facebook | Instagram

Email: info@asiliveandgrieve.com

As I Live and Grieve

Stacy Francis on LinkedIn | Twitter

Email: stacy@francisfinancial.com

FrancisFinancial.com

Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!

Introducing Financially Ever After Widowhood Apr 04, 2023

Show notes

Widowhood is the state of being a widow or widower: a person whose spouse has passed away. This is a situation that no one wants to be in, but it is something that can happen, and that you and your family should be prepared for financially. When this kind of painful, life altering event occurs, it's important to have the structure in place for you and your family to be protected, and this year on Financially Ever After Widowhood, Stacy Francis is going to be talking to a diverse lineup of experts, and individuals who have gone through it themselves, to give you the tools and information you need to be prepared.

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