by John Darer® CLU ChFC MSSC RSP CLTC
The loss of a loved one brings change and transition. The physical, psychological and social realities of change are the real challenges, even when you’re attending to them. And when you aren’t attending to them because either you are unaware that you should, or you’re unsure about how best to go about it, you’re likely to compromise your future. The result? A new normal fraught with obstacles, anxiety, and even chronic physical problems, in addition to financial problems. [Sudden Money Institute]
Successfully managing Sudden Money is tough for most people. It is more challenging and complex than recipients anticipate. It is also difficult for many financial advisors to understand how to help new wealth clients, not to mention peddlers of inheritance advances like the people behind Einstein Structured Settlements. It's a fact life that one day, hopefully after a much longer and fruitful life, JRR Funding's Ryan Blank is going to lose his father Barry Blank. Then, although hopefully before, perhaps Ryan Blank will truly understand that losing someone you love "ain't all about the money". Moreover "it ain't all about the money NOW"
In the meantime this is an embodiment of Ryan Blank and his minions' lack of understanding about transitions, quoted directly from the Einstein Structured Settlement website:
"When you’re stuck waiting for a delayed inheritance, an inheritance advance is a much easier and safer way to get money earlier. When you apply for an inheritance advance, the settlement company will review your claim and will likely pay you within a week of your application. Depending on the size of your future inheritance, you could receive anywhere from a few thousand dollars up to a 6-fixure advance....Don’t get trapped waiting for a never-ending inheritance. With an inheritance advance, you get your money fast and without any liability on your part. This way you get to enjoy your inheritance today without dealing with the headaches of potential delays".
Easier and safer?
There is a specialized financial planning discipline to address the unique experience Sudden Money creates. Whether it's an inheritance or an athlete getting a big contract or a divorce or a law suit settlement, transition expertise matters.
Few people need money right away. While some people in transition may gravitate toward concentrating on the money—the numbers—it may be because they are concrete and easily definable. Having the space of mind to orientate oneself after a loss may help you to avoid hasty choices that you could live to regret later.