Establishing deep communication around financial goals after receiving an inheritance.

Marc and Robert are in their 40s and raising two teenagers with college on the horizon. Robert’s mother recently died from cancer and the whole family is grieving. Robert received an inheritance that felt heavy with grief. When they came to Modernist, they realized they had never established deep communication around their financial goals and values. In the past, their differing financial philosophies and spending styles had resulted in tension and stress for the whole family. They had always been rigorous savers with a significant portfolio for their age, but much of that behavior came from fear rather than intentional planning. After Robert's inheritance, their portfolio quadrupled yet they felt lost and overwhelmed.

We dug deep to uncover their individual money stories that had led to strained conversations about money. They are now in regular counseling to help them grow together while experiencing transition. This work informs their financial planning, as they cope with the family's loss, an empty nest in a few years and career concerns that we discovered in our initial conversations. We implemented a cash flow structure that helped them prioritize and make decisions together, automated bills and savings and created a sense of permission around discretionary spending. Our portfolio management let them focus on their careers knowing that some of the best minds in finance and academia direct their portfolio decisions.

Today, they make financial decisions together, whether vacation spots, funding their kids’ education or their own retirement dreams. The inheritance no longer feels like Mom’s money, but rather part of the financial engine that will fund their early retirement after the kids graduate.