Women’s Month is more than just a celebration, it’s a powerful reminder of strength, independence, and empowerment. In today’s world, holistic financial independence is one of the most powerful tools a woman can have.
For generations, women have often entrusted their husbands or partners with managing the household finances, from bank accounts to investments, from bond payments to retirement planning. And while trust is a cornerstone of any relationship, the sad reality is that many women are left in the dark when their partners pass away or become incapacitated.
Imagine waking up one day and not knowing how to access your own money, pay a bond, or even where important documents like Wills, trust deeds, or insurance policies are kept. Unfortunately, this isn’t just a theoretical risk, it’s something we at Wealth Associates Fiduciary Services (WAFS) have seen too many times in practice, and one that is entirely preventable through proactive engagement with both their financial and estate planning matters.
We recently assisted a widowed client who had never attended an estate planning meeting with her husband. When he passed, she had no idea who the executor was, how to access investment accounts, or what the terms of the trust were that he had set up “for her benefit.” It took weeks to track everything down, weeks filled with uncertainty, stress, and grief.
But this doesn’t have to be your story.
Why It Matters:
- Security in Uncertainty: Life is unpredictable. Understanding your finances, including who is appointed as executor of your estate or trustee of your trusts and the specifics of your Will, ensures you’re never completely dependent on someone else to survive or make informed decisions, even in difficult times.
- Empowerment through Knowledge: Knowing where the money goes each month, how it’s invested, and how your will and estate plan protects your wealth and expresses your final wishes gives you control over your future and your legacy.
- Protection for Your Children: If you’re a mother, you have even more reason to know what’s going on. Being financially literate means, you can protect your children’s interests and plan effectively for their future. We’ve helped numerous moms structure trusts, set up guardianship provisions, and understand how to provide long-term stability for their children, even in their absence.
Practical Steps to Take Now:
- Be Part of Financial and Estate Planning Meetings: Whether it’s reviewing your Will, trust structure, or investment strategy, be present and informed. At WAFS, we encourage both partners to attend all fiduciary planning sessions.
- Know Where Everything Is: We help our clients create a “Legacy File”, a folder or digital record with key documents, account numbers, passwords, policies, and instructions. It’s a game-changer in moments of crisis.
- Educate Yourself: You don’t need a finance degree. Just a basic understanding of income, expenses, savings, and how an estate flows after death, can make a world of difference. Our advisors offer one-on-one sessions specifically for women who want to feel more financially confident.
- Have a Valid Will and Estate Plan in Place: This is non-negotiable. And don’t just sign, understand. One client told us that after finally reading and understanding her Will, she felt a sense of peace she hadn’t had in years.
This Women’s Month let’s decisively challenge the outdated norm that financial management is solely a male responsibility. Instead, let’s empower women to take a seat at the table, to ask questions, understand the answers, and claim their role in safeguarding their legacy.
Because a woman who knows her worth, her net worth, and how her legacy is protected, is unstoppable.
Her legacy, Her Power
Author: Marischa Venter
