By John F. Wasik
Riding out the pandemic with family presents the perfect chance to lay it all out: priorities, account balances, end-of-life directives.
For far too many families, financial planning is akin to scheduling dental surgery. The prospect of pain and discomfort prompts many to put it off — or not do it at all.
During the pandemic, however, a mortal urgency has forced the issue. Will dependents and heirs be provided for? What about funding a dignified retirement? Fortunately, with many families still sheltering together, the different generations can sit down and address these subjects openly. Key questions can be fielded and discussed.
Rosemary and Jeffery Harris started extensive planning about 13 years ago during another crisis. It was the height of the housing bubble, which burst — leaving them worried about protecting the equity on the home they bought in 2007. They approached a financial adviser in Glen Allen, Va., for a comprehensive financial plan, wanting to sketch out a secure retirement and provide an inheritance for their three daughters, who are in their 30s…