Helene Aftermath Guidance

In the wake of Hurricane Helene, a storm that blindsided us all here in the Southeast, we want to offer our prayers, thoughts, and love to all those affected. We still do not know the extent of the damage in the Upstate and Carolinas. As everything unfolds, we would like to offer our financial planning services pro bono. We have three CERITIFED FINANCIAL PLANNERS ® on our team. This storm has created devastation in many forms – emotional, physical, and certainly financial. We are here for our clients first, but we also want to extend our expertise and services beyond to our community and friends as well.

We have complied a list of resources for financial assistance:

https://www.disasterassistance.gov/

https://www.

Damage to your property? Walking through the property and casualty claims process can be difficult with the number of claims being filed. You may not be getting the answers you need. If you need help with this process, please contact us.

Here are some tips from the N.C. Hurricane Guide: ( https://www.newsobserver.com/news/state/north-carolina/article293254409.html#storylink=cpy )

Your first step should be talking with your insurance company. Contact your agent as soon as you can, but be patient because companies are likely dealing with many requests.

Your first step should be talking with your insurance company.

Take photos and make a detailed inventory of all damaged property before making any repairs. Only make repairs that are necessary to prevent additional damage. Don’t make any permanent repairs before speaking with your agent because you may not be reimbursed for unauthorized repairs.

Keep receipts for items purchased to make temporary repairs.

Ask your insurance company about which expenses will be reimbursed before renting a temporary shelter.

Ask your insurance company about which expenses will be reimbursed before renting a temporary shelter.

Ask your insurance agent before calling a tree removal service, because some removal costs may not be covered.

Whether you have insurance coverage or not, you may be entitled to some relief funds from FEMA. YOU MUST FIRST FILE YOUR HOMEOWNER CLAIM BEFORE REQUESTING FEMA FUNDS.

https://www.fema.gov/disaster/4829

https://www.

If you own a business in SC,

You may be entitled to disaster loans. These loans may also extend to homeowners and renters.

https://lending.sba.gov/search-disaster/?disaster=SC-20012

https://lending.

NC Department of Insurance has a list of insurance companies here: https://www.ncdoi.gov/insurance-company-phone-numbers/open

Be wary of scammers and those that say they want a deposit for work upfront.

If you need out of pocket cash for repairs or to meet your deductible, consider the cost of carrying the loan you initiate. Interest rates, time frame and fees should be considered before you make a commitment. Start with lowest interest rate sources first. Determine if the rate is fixed or variable. If you need cash for your home repair/renovation, consider a home equity line of credit, especially if you do not plan to sell the home in the next few years. If you have a taxable investment portfolio, you may be able to access a securities-based line of credit. Some individuals may qualify for a loan from their 401k.

If you need out of pocket cash for repairs or to meet your deductible, consider the cost of carrying the loan you initiate.

We are here to help! Keep breathing and call on your trusted resources during this time! We are in this together!