When his health declined, she had to take over their $13M plan
When one spouse could no longer manage the family’s financial planning, the other spouse needed to take on responsibilities related to investments, long-term-care insurance, cash flow, and estate planning.
The couple was retired and had approximately $13 million in assets under management. One spouse had previously handled the family’s financial planning, but recent health problems required him to step away from that role. The other spouse then needed to take on responsibility for the family’s finances.
The planning needs included a complex and customized investment strategy, long-term-care insurance policies, and an estate plan with provisions for beneficiaries with special needs. The transition also came at a time when the family was managing the stress of a health issue.
At-a-glance
Health challenges, complex investment strategy, long-term-care policies, and special needs provisions
Investment strategy, long-term-care insurance, estate planning, cash flow, and client service support
The advisor and Roundtable™ team focused on the family’s investment strategy and estate planning needs. A client service team manager also helped coordinate follow-up items and day-to-day support.
Investment strategy support
The advisor and planning team helped manage the client’s complex and customized investment strategy.
Estate planning coordination
The team coordinated with the couple’s existing legal advisor and tax advisor as part of the estate planning process, including provisions for beneficiaries with special needs.
Long-term-care insurance support
The team helped review and manage the clients’ long-term-care insurance policies.
Cash flow guidance
The team reviewed the client’s financial obligations and cash flow needs with her.
Client service support
A client service team manager worked with the advisor and met with the clients regularly. Because she lived nearby, she also dropped off paperwork at their house or met with the client to review questions.
The client received support across several planning areas during a difficult transition, including investments, long-term-care insurance, estate planning, cash flow, and day-to-day service needs.
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This case study is for illustrative purposes only and does not represent the experience of all clients. Client experiences and outcomes will vary based on individual circumstances.