Description of Need
A recently widowed woman needed help understanding and managing the distribution of the estate, which included provisions for multiple trusts. While her immediate concern was the proper settlement of the estate and maintaining her own lifestyle, she also wanted to ensure that the wishes that she and her husband had for their blended family were being carried out.
Obstacles
Finances were previously managed by her husband and the estate distribution plan had a number of complexities given the dynamics of their blended family. While she had experienced legal and accounting professionals working with her, communication between those two parties was limited.
Services Provided
- Estate planning
- Inheritance distribution
- Quarterbacking with attorneys, CPAs
- Operational review of estate planning documents
- Multi-generational wealth transfers
Solution
We wanted to fill the gaps to facilitate her understanding of the estate as well as the financial distribution picture, working to provide guidance and peace of mind throughout the process. We worked directly with the estate planning attorney on validating the estate distribution plan and then updating her own estate planning via a codicil to her will put in place that was simple and accomplished her goals. Ultimately the estate was distributed, in part to various trusts, and we worked with her on the investment of those accounts. Additionally we began working with the next generation who would be the ultimate beneficiaries of some of those financial assets.
