getting divorced

There are few things in life more stressful than going through a divorce. There are lawyers. Meetings. Negotiations. Paperwork. It’s enough to make anyone feel stressed and confused. But it’s essential that you keep a clear head when handling the financial issues that surround a divorce. That’s where Arcis Wealth Strategies and your legal advisors can help, guiding you through the complicated processes of getting your finances in order during this difficult time.

Financial considerations. The first concern for many people going through a divorce is how to divide the proceeds from the sale of a house or splitting up assets in bank accounts. Of course, these are important issues. But they’re far from the only ones you have to worry about.

Life insurance. If your ex-spouse is a beneficiary of any life insurance policies you hold, consider whether you want to designate a new beneficiary. If you have children, they may be designated as primary beneficiaries, but bear in mind that minors cannot receive the death benefit directly. A custodian will need to be named for them. If you hold permanent insurance, you should consult with Arcis about how to make sure it continues to meet your protection and income needs.

Retirement savings. As with life insurance, beneficiaries need to be named for your 401(k), IRAs, or other retirement savings accounts to ensure your assets go to the right people in the event of your death. The rules of most retirement plans require that your spouse is your primary beneficiary unless otherwise designated. If you remarry, your new spouse will become your primary beneficiary. If you have children, you will need to consider whether you want them, your ex-spouse, or (if remarried) your current spouse to be the beneficiaries of your retirement accounts by using a trust or custodian. 

Wills. If you don’t have a will, you should create one — especially if you and your ex-spouse have children together. Some states will revoke will provisions concerning your ex-. Divorce settlements can profoundly alter the provisions set forth in your will. It is essential to review and revise your will following a divorce.

Our greatest glory is not in never falling, but in rising every time we fall.

– Confucius

losing a loved one

Nothing is more painful than losing a loved one. Getting through the ordeal takes the love and support of your family and friends — and, honestly, not an financial planner. But, when you’re ready to focus on getting your financial life in order after suffering so great a loss, we’ll do everything we can to help, with patience and sensitivity.

If you’ve received a death benefit from your loved one’s life insurance. The death benefit from your loved one’s policy can fill income gaps and give you the means to provide greater protection to your children or other family members. But to make those funds provide lasting benefits, it’s important to have a plan for using them as effectively as possible. Arcis can work with you to determine if what solutions can allow you to create a long-term income stream and safety net for other members of your family.

If your loved one didn’t have life insurance. We can help you find alternate means of filling the gaps in your financial picture. It starts with reviewing your assets, sources of income, and financial liabilities. Then we will outline recommendations for a plan to minimize your expenses and maximize your earning potential through a range of solutions. One important consideration: If you have children, reviewing your protection strategies is imperative to provide financial stability for them in the event of your death.

taking care of elderly parents

They helped you take your first steps. Showed you how to ride a bike. Taught you to drive. Helped you pay for college. Your parents spent years looking after you. And the day may come when you have to return the favor. With the right plan in place, caring for your elderly parents can be a truly joyful experience for both you and them.

Planning is paramount. The key to ensuring financial stability while caring for elderly parents is to have a plan in place now, before you actually need it. That way, when the time comes for you to start looking after your parents, you’ll be ready. Arcis will work with you to assess your parent’s needs, examine your financial picture, and recommend a long-term plan to minimize the financial impact that elder care can so often bring. This plan may utilize a number of effective solutions.

sufffering from an illness or accident

The effects of an injury or illness can extend far beyond your body. If you’re unable to work, the financial impact of your condition can be devastating — not only to yourself, but to your family as well. That’s why it’s essential you put a plan in place as early as possible to protect yourself and your loved ones from the loss of income that illness and accidents can cause. Arcis Wealth Strategies can help you do just that.

Planning ahead. While you can’t predict when an injury will happen or an illness will develop, you can be prepared for it. Several solutions exist that will help bridge the income gap caused by your loss of salary when you’re unable to work. Disability insurance for instance, offers cost-effective coverage that’s also highly flexible, allowing you to specify the waiting period, the benefit period, and the amount of benefit.

The disability insurance offered by employers in many benefits packages typically isn’t enough to replace your income if you’re unable to work. And its benefit period is probably shorter than you’d like. You should speak to us to assess your current level of coverage and determine whether you need to supplement it with your own disability insurance policy.
 

If you’ve experienced injury or illness. Recovering from an injury or illness should be your first priority. Yet you can’t afford to ignore the financial realities of your situation. Fortunately, Arcis can relieve you of some of that burden.

If you have disability insurance, we will help design a strategy for putting your new income stream to the best possible use. This may involve reinvesting it, funding additional insurance products, or simply coming up with a sound budget. 

If you don’t have disability insurance, we can help you find other means to replace your lost income, as well as put any existing assets — like savings, insurance, and investments — to use in covering your living expenses. We can also help you establish a budget to preserve your assets as well as give you insight into any government or charitable assistance you may be eligible for.