Guiding a Widow Through Transition

Case Study

Client: Wilma, a sweet and trusting client in her mid-60s, faced a significant life change after the passing of her beloved husband, who had always managed their finances. She found herself feeling nervous and uncertain, grappling with decisions about her home, her investments, and her long-term care needs. Wilma’s main goal was peace of mind and the assurance of a secure cash flow, but she felt overwhelmed and worried about making the right choices.

The Challenge: Wilma needed to transition from her single-family home to a continuing care facility, a daunting task. Her primary concern was ensuring she had a secure and predictable monthly income without running out of money. She also worried about taxes, potential long-term care costs, and how to manage her assets effectively for herself and her grandchildren.

Our Approach: We provided Wilma with a compassionate and comprehensive plan to navigate this challenging period, making the process as smooth as possible. To address her financial security, we referred her to a financing team specializing in tax-efficient IRA distributions. We also recommended an attorney to handle her real estate closing, update her Will, and ensure her estate plan was tax-efficient. Crucially, we helped her establish a secure monthly cash flow plan, showing her exactly how much she could receive without touching her principal, and set up automatic tax deductions from her distributions.

With this approach, Wilma could find relief and security. With everything organized and transparently explained, Wilma could focus on her new chapter with confidence and peace of mind.

*Case studies are for illustrative purposes only. This story is not a testimonial.  The information is presented to illustrate our experience and the types of clients we help.