Elephant in the Room

Is there an Elephant in the Room?

Is there an “elephant in the room” when it comes to your financial future? You need a Financial Plan B!

We’re talking about the matter of what can confront couples when one of them passes on. It may seem too awkward to talk about.  But it’s also too important to ignore.

You see, the problem is, we all tend to assume roles in relationships. One partner does the bills, another handles the investments. Or one knows the codes or passwords to this or that … but the other manages the paperwork. That may be fine for now – but not when one partner’s not around anymore.

Here’s some important information that each couple – and maybe even your children or key advisors – should know about:

  • Contact information for financial professionals — insurance agent, accountant, attorney, banker, etc.
  • Wills, insurance policies and other legal documents, such as powers of attorney, living wills, trusts, etc.
  • Real estate documents, such as mortgage company statements, titles, deeds, rental or lease agreements, etc.
  • Company benefits contacts, if entitled to pension, 401(k), stock options, workplace life insurance, etc.
  • Safe deposit box location and key; plus a list of contents kept somewhere other than in the box itself
  • Original birth certificates, marriage licenses, divorce decrees, naturalization papers
  • Financial accounts and statements, credit card numbers and contact information
  • Spouses’ Social Security numbers — and where original cards are kept
  • Car titles, registrations, loan or lease agreements and insurance
  • Passwords for banking, investment, tax and other accounts
  • Proof of military service if eligible for benefits
  • Tax records for the most recent five to seven years
  • Access information for a safe or vault
  • Funeral arrangement preferences

We have resources that can help you get this information out in the open and saved for future use. It’s our “Elephant in the Room” program. Full of helpful tips on what to save and where. It even includes an online fillable reminder booklet to help you keep track of all the important information you both need to know and share.

Check out the “Elephant in the Room” tools today in the Related Links on this page.

And if you have any questions, ask your W&S Financial Group Distributors representative. They’re all ears.

Financial Plan B Tool Kit

Payment of benefits under an annuity contract is the obligation of, and is guaranteed by, the insurance company issuing the annuity. Guarantees are based on the claims-paying ability of the insurer. Annuities are issued and guaranteed by Western-Southern Life Assurance Company, Cincinnati, OH, Integrity Life Insurance Company, Cincinnati, OH, or National Integrity Life Insurance Company, Greenwich, NY. Securities offered by Touchstone Securities, Inc.* All companies are members of Western & Southern Financial Group. Western-Southern Life Assurance Company operates in DC and all states except AK, ME, NH, NY and RI. Integrity Life operates in DC and all states except ME, NH, NY and VT, where National Integrity Life operates. W&S Financial Group Distributors, Inc., is an affiliated agency of the issuer. Issuer has sole financial responsibility for its products. Contracts have limitations. Annuity benefits offered may vary due to misstatement of sex or age. Interest rates are declared by the insurance company at annual effective rates, taking into account daily compounding of interest.

Western & Southern member companies and their agents do not offer tax advice. For specific tax information, consult your attorney or tax advisor. Product and feature availability, as well as benefit provisions, vary by state. See your financial professional for availability, details and limitations.

NOTE: Product availability may vary by distribution channel and state availability. Please consult your financial professional for the products they represent.

No bank guarantee. Not a deposit. May lose value. Not FDIC/NCUA insured. Not insured by any federal government agency.

* A registered broker-dealer and member FINRA/SIPC.

Updated 06.14.17

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