Case Study: GOING ABOVE AND BEYOND FOR A CLIENT THAT FACED A TOUGH REALITY

Case Study: GOING ABOVE AND BEYOND FOR A CLIENT THAT FACED A TOUGH REALITY

The Challenge

We were introduced to a potential client by a local attorney. This woman, in her late 50s, had recently lost her husband to an unexpected illness. She was frightened and concerned, having let her husband always take care of the financial affairs for the family and him being the higher earner of the two. He had acquired some retirement and real estate assets totaling just over $1million, but he was still working, and saving more for a retirement they could enjoy together. She was now alone to decide how to best preserve the nest egg and had no experience where to even begin.

Our Solution

We spent months helping her gather all of the investment, pension, tax, retirement, investment property and life insurance information in order to transfer everything in her name. When that was complete, we helped her create a monthly budget to identify how much would need to be withdrawn from the inherited accounts each month to fill the substantial income gap that existed now that her husband's income had ended. With that information, we were able to create a tax-diversified, income distribution plan that would take her through both her next 6-8 working years and her future retirement. We also introduced her to a local attorney, who helped update her estate plan according to her wishes, and a local accountant, who educated her on the value of good tax planning. Through our thoughtful and patient approach, we were able to help our client navigate through the hardest challenge she faced in her life.


*Actual performance and results will vary. This case study does not constitute a recommendation as to the suitability of any investment or investment strategy for any person or persons having circumstances similar to those portrayed, and a financial advisor should be consulted for your specific situation.

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