Life Change? Time to Call Your Financial Professional!
We love celebrating life’s milestones alongside our clients. Whether that’s a new home, a new baby, or a change in marital status, we are always here for you when you’re taking on life’s biggest moments!
Let’s talk about four life changes that should necessitate a call to our office.
Change in Living Situation
Many of our clients are buying or building new homes, especially during the current housing boom. Others are looking at investing in additional properties or have decided to downsize their living quarters.
Whatever your situation, we are here to help you navigate the financial repercussions of your home decisions.
For example, did you know that if your home will be vacant for a period of time during the buying/selling process, you need to alert your insurance agent? You should also call us to find out if your policy covers your belongings while you’re moving. We would hate for you to find out the hard way that something isn’t covered during this stressful time!
Of course, we also need to know when your homeowner’s insurance policy needs to be switched over to the new home. This includes giving us your expected closing date as well as the actual closing date since these exact dates can sometimes be in flux.
Change in Marital Status
A marriage, separation, or divorce can each have a big impact on your long-term financial plans.
One of our financial professionals can help you - jointly with your partner or separately - determine your financial goals and how they will be affected in the case of a change in marital status. We can be your advocate and partner as you navigate this big life change!
For example, a separating or divorcing couple needs to untangle a lot of financial assets. Having a financial professional as part of your separation team is critical to a smooth transition.
No matter the marital status change, you should also think about your beneficiaries on your retirement accounts. Is your partner the appropriate person on each account, or would you rather have the beneficiary be another loved one?
Change in Dependents
Welcoming a new child into your home, whether that’s through birth, adoption, or another custody arrangement, also requires a call to our office. Firstly, we want to congratulate you! And secondly, we need to make sure your new dependent is covered appropriately on your insurance policies as well as listed as a beneficiary, if appropriate, on your financial accounts.
Change in Valuables
Have you upgraded your home entertainment system or your jewelry recently? These often need to be itemized on your insurance policy(ies) to ensure proper coverage.
We have also seen many clients buy new vehicles, boats, or recreational vehicles in the last year. Always make sure you call our office to secure insurance plans for each of these new purchases.
No matter your life change, Gretchen Rehm Financial is here to support you. You can securely set-up your next appointment online - just visit our online scheduler to choose a time that’s convenient.
