Guest Phil Graham | CEO @ The Beneficiary Liquidity Plan®

Phil Graham is the driving force behind the development and innovation of The Beneficiary Liquidity Plan®. Phil brings more than 25 years of financial services experience, with a focus on designing and distributing products through financial advisors. With the Beneficiary Liquidity Plan®, you can help ensure your loved ones have quick, easy access to the funds they need to settle your estate.

Many people have faced the burden of paying for a loved one’s funeral out of pocket, and in this episode, we explore ways to provide immediate financial relief for families through these tough times.

Sometimes it can take anywhere from 2 weeks up to six months to receive death certificates, which delays access to funds from financial institutions. For instance, in New Jersey, an 84-year-old widow had her joint bank account frozen after her husband died, as the bank required a state estate tax form and death certificate before releasing the funds.

Nearly everyone (close to 100%) wants their family to access funds for funeral costs, yet only about 8% have prepaid funerals. We recommend pre-planning (not pre-paying) to ease decision-making for beneficiaries.

Immediate Payment: The Beneficiary Liquidity Plan® allows for direct payment to the funeral home, eliminating financial stress for the family. For example, with a $25,000 allocation:

• Average funeral expenses (approx. $15,000) are covered.

• Remaining funds ($10,000) are deposited to the beneficiaries for immediate use.

For more information or questions on this topic, feel free to reach out to our team at 816.246.WISE (9473) or by email at info@wisewealth.com. If you’re not a client of Wise Wealth and lack a personalized financial plan, we offer a “Clarity Conversation” to help you get started. You can reach out via email, phone, or by taking our online quiz for a free copy of our updated book, “Simplify Your Retirement.” Our goal is to simplify your retirement planning so you can fully enjoy life.

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