The loss of a spouse, whether it be through death or divorce, is one of life’s most emotionally difficult and often financially stressful events. Recovering from such a loss can be overwhelming in so many ways. Our team of professionals understands that there are more than just financial issues at stake. We know that providing compassion and empathy are just as important as offering practical solutions and straightforward guidance when you need help getting control of your finances. At Keatley Wealth Management you can expect a steady hand and comprehensive plan to help move you through this uncertain phase of life and on to a happier and more financially stable future.
Married for many years, Diane and Jim owned and operated a successful business together for almost 2 decades. As many business partners do, they divided responsibilities of the business. Diane handled the day-to-day operations while Jim handled the finances. When Jim suddenly and unexpectedly passed away at the age of 59, Diane was completely devastated.
Diane was still dealing with the shock and grief of Jim’s death when the large, nationally-recognized bank with which the business had a line of credit for years demanded immediate repayment of their credit line, for no apparent reason. Suddenly responsible for both the increasingly stormy financial side of the company and also the daily needs of the 60+ employees and hundreds of customers who counted on her, Diane was simply overwhelmed. While she was grateful to have the support of her adult children as well as a close network of other business owners to help her keep things on the right track at work, Diane quickly recognized that she needed the assistance of a financial advisor if she was going to get control of her personal financial situation.
"Suddenly responsible for both the increasingly stormy financial side of the company and also the daily needs of the 60+ employees and hundreds of customers who counted on her, Diane was simply overwhelmed.”
When she began the process of selecting a financial advisor, Diane brought her son along for emotional support. The interviews didn’t go well. One prospective advisor admonished Diane for not being more financially knowledgeable while another treated her as if she were invisible, conversing almost exclusively with her son. After several unsuccessful interviews like these, Diane found the approachable and compassionate team at Keatley Wealth Management. We took the time to answer all of her questions and provided as much immediate feedback and direction as possible. We respected her talent as an accomplished business owner and helped her become more knowledgeable about her personal finances and investment options.
In addition to managing her investment portfolio and financial plan, we accompanied her to meetings with attorneys and accountants and helped her replace her business banking relationship. We also helped her refinance her mortgage with a local bank, so that she could realize substantial savings in her monthly budget. We continue to serve as a sounding board on other personal financial issues such as planning for downsizing her home and the possibility of transitioning the business to one of her children. We are beginning to work with Diane to develop a comprehensive, long-term plan for her eventual retirement. With our partnership, Diane has become an informed investor and a more capable manager of her own affairs.
Marie’s husband surprised her with an extramarital affair soon after their only child died in an accident. When they finally divorced, Marie was nearly immobilized by the sadness of her loss and the fear of having to suddenly start a life alone. Overwhelmed by the prospect of managing and planning around her share of the divorce proceeds, Marie knew she needed understanding and competent advisors whom she could trust at this incredibly vulnerable time in her life. When she came to Keatley Wealth Management, we listened to her story, understood her concerns, and even shared a few tears. We developed and implemented an investment plan for her settlement - a plan that made her feel secure and in control, and one that ultimately helped ease the emotional tailspin.
Over the years, things calmed down and Marie began to rebuild her life with confidence. We were thrilled to share in Marie’s excitement and joy over her engagement to a wonderful man. And knowing Marie’s financial plan and her need to remain financially independent and secure, we worked with Marie’s professional team to review the pre-nuptial agreement and estate documents of her soon-to-be husband. We are pleased that Marie found love and happiness after so much heartache and we continue to partner with her and her new husband in planning their life together.
The case studies presented are not a guarantee of future performance or success. Services for actual clients are customized to each unique situation; therefore, investment and financial planning outcomes will vary among clients and results may be better or worse than those scenarios depicted. Information provided is for illustrative purposes only and should not be considered specific investment or financial planning advice. Nothing herein is intended as an endorsement of Keatley Wealth Management by any person.