Case Story – Loss of a Loved One

Helen was not prepared

Helen and Edward are empty nesters with their life all figured out. Helen volunteers at a nearby therapeutic riding center, and Ed is planning to retire from his work as a partner at a law firm within the next year. They have plans on the books to visit their son in Hawaii and take some time to enjoy their home by the ocean when the unthinkable happens. Ed is hospitalized after having a heart attack and passes away.

Complexity, confusion, grief, and paperwork

Up until this point, Ed was the one who handled the accounts and paperwork of the estate while Helen managed the home. It was an advantageous arrangement and both husband and wife did their roles happily, but upon the loss of Ed, Helen felt the sharp imbalance of his absence as well as an overwhelming fear of the unknown without her support.

Their estate attorney knew that Helen would need prudent investment management, sound guidance and a team that truly understood her needs through this transition in her life. They introduced Helen to Retirement Solutions Inc for our specially designed transition planning process, that not only seamlessly addresses all complexities of the financial transition, but it is also specifically designed around her complex needs during her time of grief.

A plan that works for her

There are three steps to the plan that we curated for Helen. We started with “Immediate Needs,” guiding Helen through the initial to-do list to just the items that needed to be addressed right away, like taking inventory of family assets and locating all important documents.

 When Helen felt she was ready to move forward, we began “Taking Care of Business.” This was when we helped her work through important decisions, such as whether to keep or sell her and Edward’s investment properties, and guided her through the execution of every decision. 

Ultimately, we transitioned into “Your Next Stage of Life”, where we focused on Helen’s vision for her new life and created her new comprehensive retirement plan designed around her goals.

Having the right team in times of crisis

The transition process was complex and nuanced, and it wasn’t just between us and Helen. We acted as Helen’s financial quarterback, coordinating with her family, her attorney and her CPA, as well as helping Helen locate and hire other professionals such as a property manager for her rental properties. We continue to meet with Helen on a quarterly basis to discuss updates to her life, how her financial goals have evolved, and update her retirement plan to ensure it remains coordinated with all her spending needs and life goals.