Wealth Adviser

Utilizing a Client's Only Major Asset

March 4, 2013 9:37 a.m. ET

The 65-year-old woman had recently lost her husband, and a significant chunk of her monthly income.

The husband's pension didn't include survivor benefits, and the widow's own Social Security and pension benefits provided just $2,000 in monthly income--far less than her $4,000 in monthly expenses.

With only $35,000 in a bank account and...

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