Desert Health News - November-December 2024

. www.DesertHealthNews.com November/December 2024 Financial Health The Valley ' s Leading Resource for Health and Wellness 19 ww w.beaconpoi nte.com Where will your future take you? Michele T. Sarna, CFP ® , AIF ® Managing Director, Partner Phone 760.932.0930 msarna@beaconpointe.com Provided as information only and should not be considered investment, tax, or legal advice or a recommendation to buy or sell any type of investments. Asset allocation, portfolio diversification, and risk strategies cannot assure or guarantee better performance and cannot eliminate the risk of investment losses. Form ADV contains important information about Beacon Pointe Advisors, LLC, and may be viewed at www.adviserinfo.sec.gov . Build strength and security through understanding your financial picture–where you are, where you want to go, and how to get there. 73-833 El Paseo Drive, Suite 102 Palm Desert, CA 92260 beaconpointe.com Let us help you through your financial journey with comprehensive financial planning. www.galileecenter.org Donate today at GalileeCenter.org Donations can also bemailed to: P.O. Box 308 - Mecca, CA 92254 Your donation is 100% deductible. ID # 27-3133601 Your donation, whatever the amount, will have a lasting impact. A gift of $50 will provide a holiday meal for a family who may otherwise go without. Help Us Deliver Holiday Meals and Toys to Vulnerable Families Many children in our community are at risk of going without a holiday meal or gift for Christmas. Give the Gift of Hope t YOUR FINANCIAL HEALTH By Michele T. Sarna, CFP ® , AIF ® No one likes to talk about death. However, it’s an important financial planning topic to consider. We all know we should have a living trust or will in place, yet even with the basics prepared and paid for, there are unexpected scenarios that can significantly set you back both emotionally and financially. Basic preparation. In addition to a living trust and/or will, it is important to have a health directive, durable power of attorney, health care power of attorney, and, ideally, final wishes and arrangements established and paid for. International travel. Have you ever thought about the cost of death should it occur while traveling outside of the country? Repatriating a body from Europe for burial varies widely, depending on the distance between the countries, the services required and specific regulations of the foreign country. Generally, the costs include embalming or preparation of the body, casket, transportation fees and required paperwork such as death certificates and permits, which can cost up $15,000. Transportation costs alone range from $2,000 to $10,000. Transporting ashes overseas requires specific carriers, like DHL, to be used at approximately $2,000 in costs. In both situations, it’s advised to work with a specialized international funeral service provider. Be laid to rest in your home state. What if you, your parent or loved one wishes to be laid to rest in a different state? The cost of transporting a body or cremated remains nationally also varies. The distance between the locations, the services needed, and the mode of transport (air or ground) will affect costs. Surprisingly, total costs of transporting a body within the United States can cost as much as transporting it from Europe. Transporting ashes. While transporting ashes can be less expensive, there are costs and special considerations. The USPS is the only carrier allowed to ship human remains, which requires special packaging, labeling and priority express shipping. However, if a family member is flying with the ashes, they can often carry them on as one of their carry-on items. It’s important to verify the airline’s policies and to check with TSA screening as to the type of urn, etc. to ensure the ashes pass screening. Is it possible to plan for all scenarios? Probably not, but consider allocating separate funds to a “just in case” account for a trusted individual to access. If grief takes over, it could cost your loved ones an exorbitant amount of money for that high-priced casket, services, reception, flowers, and so on. If the majority of the arrangements are premade, it helps take the emotion out of the equation and can save your loved ones hundreds or thousands of dollars. Michele Sarna is a certified financial planner ™ with Beacon Pointe Advisors and can be reached at (760) 932.0930 or msarna@beaconpointe.com. Provided as information only and should not be considered investment, tax, or legal advice or a recommendation to buy or sell any type of investments. Asset allocation, portfolio diversification, and risk strategies cannot assure or guarantee better performance and cannot eliminate the risk of investment losses. Form ADV contains important information about Beacon Pointe Advisors, LLC, and may be viewed at adviserinfo.sec.gov. Can You Afford to Die?