Case Study

Outsourcing bill pay and simplifying your financial responsibilities

In the case of the aging couple, they did not want to become a burden to their children, but also to provide the children with transparency to hopefully avoid intra-family money issues down the road. Below are the areas where this couple needed support:

Organize the couple’s personal finances and develop a budget

Create reporting the couple and children can understand that is delivered at the appropriate frequency

Develop flags and alerts to notify the couple and children of billing issues and help protect against fraud

Securely deliver reporting to the family and to chosen trusted family advisors (accountant, financial advisor)

Fundamental Foundations

Gresham worked closely with the family to develop two foundational documents – an Investment Policy Statement and a Wealth Transfer Policy Statement. These documents helped them agree upon appropriate goals and establish success factors. We then designed an asset allocation to reflect the family’s moderately aggressive investment attitude and developed a multi-year concentrated stock risk-reduction and liquidation strategy, making appropriate recommendations regarding deferred compensation and non-qualified pensions.

Customized Approach

A customized wealth transfer policy was designed to preserve financial security for the first generation while providing support and education to the second generation. To create a safety net for the children and provide for the grandchildren’s education, we designed an estate plan to retain bequests to both generations in lifetime trusts, with flexible distribution provisions that contained annual spending caps.

Fundamental Foundations