How to counsel disaster victims

Your Mindset as a Financial Advisor When Working with Disaster Victims

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Preparation Checklist

Meeting Agenda

Resources/Handouts

When natural disasters or other disasters strike, many people are at a loss for what to do, when to do it, and how to recover. The daily routine of life is suddenly turned upside down. Victims of a disaster may experience a deep sense of confusion, anger, or even fear that the disaster will strike again.

Disasters can also cause significant financial loss. Apartments or homes may be severely damaged or destroyed, meaning victims must locate temporary housing immediately. Incomes can be cut off or significantly reduced. Important financial records may be lost as well.

Recognize that "disaster" may mean different things to different people and organizations. Some disasters have a national impact, such as the Sept. 11, 2001, tragedy. Others take place on a local level, such as an apartment fire or a workplace shooting. You can look to your sponsoring organization for guidance about what it considers to be a disaster and when your pro bono services may apply.

As a pro bono advisor working with disaster victims, it may help to adopt a "medical triage" mindset. Help people to focus first on covering the basic needs of life: food and shelter. The place to begin building a sense of security is by making sure the victim's family can eat and has a place to stay, especially if they've been displaced from their home.

A host of agencies are available to help meet basic needs in the event of a disaster. Your assistance in these situations, as a pro bono advisor, will be of most benefit when you can help disaster victims 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.).
Document their losses (for insurance and tax purposes).
Reconstruct key financial records that may have been lost.

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 disaster victims. The best place to begin planning your approach is with the Meeting Preparation Checklist.