How to counsel bereaved individuals

Your Mindset as a Financial Advisor When Working with Bereaved Individuals

Back to Financial Advisor Resources

Back to Counseling Bereaved Individuals

Preparation Checklist

Meeting Agenda

Resources/Handouts

When a loved one dies, taking the necessary steps to plan a funeral and begin settling an estate may actually help bereaved individuals to cope with their grief. But there may also be times when they simply cannot take on any more details—and that's all right. Be patient in these situations. Grieving is an intense emotional process, and some days will simply be better than others.

The loss of a loved one means many details will need to be taken care of, and if the bereaved individual struggles with making good choices because of their grief, your advice will prove invaluable. Thinking about money now may be hard for survivors, but it's certainly not wrong. It's always better to be informed and make careful decisions.

In addition to the financial details, you can help bereaved individuals to consider the overall picture when the death of a loved one occurs. The proper authorities (such as either the police or the local coroner) will need to be notified, along with family members, good friends, and relatives. Other immediate decisions will need to be made concerning organ donation, the need for an autopsy or not, and the care of the deceased's body.

So while there is lots to do, there are many resources available to help individuals cope with their losses. Your assistance in these situations, as a pro bono financial planner, will be of most benefit when you can help bereaved individuals to:

Access cash for short-term needs (from an emergency fund, cash advances on credit cards, a loan against the cash value in a whole life policy, etc.).
Establish a plan to locate and organize the financial records of the deceased. Two key documents to locate immediately (if available) are the deceased's letter of instructions and will.
Develop a healthy mindset about handling inheritances.

To assist you in this process, NEFE has developed several resources for your use. These resources include a Meeting Preparation Checklist, a Meeting Agenda, and multiple forms, checklists and worksheets focusing on specific areas of need for bereaved individuals. The best place to begin planning your approach is with the Meeting Preparation Checklist.