A Case for Working with a Financial Planner
Plenty of people enjoy managing their own money. They optimize their portfolios and stay on top of the numbers. But even the most capable DIY investors often overlook an important aspect of planning:
What happens if something happens to you?
In many households, one spouse takes the lead on all things financial—tracking accounts, making investment decisions, handling taxes, and managing the retirement plan. The other spouse may have little to no involvement or interest. That dynamic works—until something changes.
So, here’s something to consider:
If you weren’t around tomorrow, would your spouse know what to do?
- Would they know where all the accounts are and how to access them?
- Would they understand the tax rules tied to pre-tax IRAs, Roth accounts, annuities, or inherited assets?
- Would they feel confident making investment decisions—or even want to?
The reality is, most surviving spouses don’t want to become overnight financial experts.
They want someone they can trust. Someone who understands the full picture and can step in to provide clarity and care. That’s where a financial advisor can be a vital part of the plan.
A Financial Advisor Helps Protect More Than Just Investments
Even if you’re doing a great job on your own, there are areas where an advisor can add value—especially for the people you love.
Consolidation and organization:
Many families have multiple retirement accounts, old 401(k)s, and investment accounts spread across different firms. An advisor can help consolidate and streamline those accounts, so things are easier to manage—and easier to find later.
Estate and beneficiary planning:
Are your beneficiaries up to date? Are assets titled properly? Do you have a strategy to pass wealth efficiently and avoid probate? These aren’t just legal details—they’re emotional challenges for surviving family members to navigate if left unaddressed.
Tax planning:
From Roth conversions and tax-loss harvesting to required minimum distributions and account sequencing, the tax side of retirement planning is complex. A surviving spouse could end up in a higher tax bracket if they don’t have a strategy in place.
Decision support during stressful times:
Whether it’s selling a home, making a large gift, or deciding how to draw income in retirement, financial decisions don’t stop when life gets hard. In fact, they usually get more complicated. Having a trusted advisor on standby can offer reassurance.
The Bottom Line
Even if you never need hands-on help, I believe having a relationship with a financial advisor is a gift to your family. It gives your spouse someone to call when you’re no longer there to explain the plan or make the next move.
Because in those moments, clarity and confidence are priceless.
A financial plan should do more than grow your money—it should take care of your people.
Any opinions are those of Justin Williams and not necessarily those of Raymond James. Expressions of opinion are as of this date and are subject to change without notice. There is no guarantee that these statements, opinions, or forecasts provided herein will prove to be correct. Investing involves risk and you may incur a profit or loss regardless of strategy selected, including asset allocation and diversification. Past performance does not guarantee future results. Forward looking data is subject to change at any time and there is no assurance that projections will be realized. All investments are subject to risk. Every investor's situation is unique, and you should consider your investment goals, risk tolerance and time horizon before making any investment. Prior to making an investment decision, please consult with your financial advisor about your individual situation. Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.