Allison Viola:
Managing Irrevocable Trust Proceeds After Husband’s Death

 
Allison’s husband John was a partner in a chain of restaurants while she successfully managed their home life. His premature and unexpected death left her with a large sum of money – over $5 million in proceeds – from an irrevocable life insurance trust, which soon became overwhelming since finances were not her strong suit.
 
Nearly instantly, Allison was bombarded by requests from numerous stockbrokers who made cookie-cutter “pitches” on how they would handle her money, but she felt uncomfortable with their hard-sell approach. She chose Barker Financial, appreciating that we took the time to sit down with her and understand her entire personal and financial situation.
 

Goals And Objectives

• Establish a strategy to provide her with monthly income to cover current
  living expenses.
• Set up a new estate planning strategy based on her survivor-ship status.
• Retitle spousal assets to integrate with the new estate plan.
• Transfer IRAs, physical shares, and taxable accounts.
• Work in tandem with her attorney and CPA to provide guidance on implementing tax and legal documents.