Dear Stefanie:
I took over my sister’s trust and it is terribly time consuming, even though the estate isn’t large. I am frustrated chasing down so many accounts. I have wasted hours on this. Do you see this, too?
– Run-Down on Rubidoux Terr.
Dear Run-Down on Rubidoux Terr.:
I sympathize with you and have experienced this, too. I have a few current cases where clients have died leaving accounts everywhere. Some accounts are big and some are small, but all are difficult to get under our control.
Yesterday, I was at a client’s house helping them to cancel an insurance policy by telephone. We were on hold for over a half hour, and we finally hung up because I had to leave. The client said – “This is hard to do, AND I am alive! Imagine what a pain this would be for my son if I were gone!” It was reassuring to hear him articulate the same thought I have had in the past, too.
It can be very challenging to work with multiple financial institutions, each with their own rules, fees and policies. It is especially frustrating to spend time on many small accounts, since the payoff is small. Very irritating!
If you have a lot of little accounts — Christmas accounts, credit union accounts or accounts at banks too far away to use, consider closing them down and consolidating. It will save so much aggravation in the long run!
In this video I talk about “Reduce Your Aggravation By Consolidating Your Accounts”.
TrustStefanie Blog 