Life Events

There are many times in our lives when unexpected life events disrupt our financial plans. For these times, it’s even more important than ever to have a financial consultant you can trust to guide you back on track. At James T. Borello & Co., our firm has experience helping navigate all of life’s challenges both big and small. We offer sound financial planning advice to guide you through life’s obstacles and still achieve your financial goals.

There are many different events that can complicate your financial plans including:

  • Divorce—The dissolution of a marriage brings up numerous financial issues including complicated division of property. A financial consultant can be helpful in many ways including helping to explain the financial ramifications of a divorce settlement, adjusting your retirement plans and accounts to reflect your new single status, making changes to educational savings plans and explaining the tax implications of your divorce.
  • Change of Jobs—When you change jobs, one of the biggest decisions you have to make is what to do with your existing 401(k) plan. A financial consultant can help you decide whether to take a cash distribution, do a 401(k) rollover or invest in another employer’s plan. Each of these options will affect your financial portfolio differently and may have its own tax advantages and disadvantages.
  • Death of a Relative—The death of a loved one triggers numerous financial choices from handling the deceased insurance benefits to filing estate tax returns to managing the deceased retirement plan benefits. A financial consultant can provide valuable advice on how to handle all of the financial and tax implications of a relative’s death for both the deceased estate and the financial portfolios of surviving beneficiaries.

Contact us to speak with one of our experienced financial consultants and learn how we can help you negotiate any life event that complicates your financial plans.