An article getting lots of syndication today from financial advisers on Twitter is When Student Loans Live On After Death in the Weekend Journal of the Wall Street Journal.
Click here to read the article on WSJ.com.
So here’s the procedure-related question from our perspective:
Does your client intake interview process inquire about any loans for which a client has co-signed? If so, do you gather the outstanding amount of the co-signed loan? Then do you consider the loan payment options in the event of the borrower’s death?
This situation is one of those rare occurrences, but when it does strike, the consequences can be significant. This is a perfect example how advisors can add value for clients.
