William Lee Sefton, CPAAmerica's Most Outspoken Non-Attorney Living Trust Advocate...
Financial Hospice

In October, 2009 I coined a new term, Financial Hospice.

About six months before his passing, a friend of my wife's instructed his co-Trustee/Executor son to use me to close up his Estate as he was not expected to live for but just a few more months.

When I finally met his son who lives in the East, he seemed to be reacting to his new role and his dad’s situation with somewhat glazed eyes. (It is tough to lose your dad, especially when dad always seemed to have everything under control; but, death is beyond anyone's control.)

I told the family that I would review the Estate Plan, inventory the assets and liabilities, fix those assets that needed fixing, review the income tax matters, and basically get everything ready that I could for his demise.  They accepted that and I left with whatever paperwork I could collect at that time.

About a week later, having gotten everything in order – even selling stock that was still in his predeceased wife’s name, I told him that everything was now in order and not to worry.

He slipped away Sunday night.

I noticed how my involvement settled and calmed the 3 children. It is often very difficult for children to lose a parent.

As the last child headed for home, she gave me a key to her father’s home, and told me that his mail is being forwarded to me to forward to the Executor-Son.

I reflected back at how this attests to my being able to deliver and gain their trust, even over a very, very short period of time.

So, I think I will highlight this as another of my service to retirees and their families: Being a Financial Hospice.