Client Case Studies

Women in Transition – Elizabeth, recently widowed

Elizabeth came to Rockwood after her husband lost his three-year battle with cancer. After devoting the last few years to caring for her husband, she now faced the daunting challenge of ensuring financial security for herself and her adult children. Elizabeth's late husband, a high-level corporate executive, had always taken care of the family finances, leaving her without the confidence necessary to move forward financially.

Initially, Elizabeth felt overwhelmed in her attempt determine how to organize the assets to meet her immediate and long-term needs. She needed help understanding her husband's stock options, deferred compensation plan, 401(k), pension, and the survivor benefits to which she is entitled from his employer. Rockwood was able to assist with transitioning the mortgages into Elizabeth’s name, implementing updated Property and Casualty Insurance policies to include her valued art collection, instituted a charitable giving program using a Donor Advised Fund to maximize the tax-efficiency of her charitable intentions, update her Estate Plan to provide for her children and grandchildren, and help her purchase a second home in Avalon to be the family epicenter and gathering place for her loved ones.

Together with Elizabeth, we created a sound investment plan aligned with her current and future income needs to give her the confidence that she can meet her financial obligations and maintain her dignity and independence throughout her lifetime.

For two years following, we met with Elizabeth on a quarterly basis to help her implement the plan and stabilize cash outflows. Today, Elizabeth is a model client in her ability to stay involved in the planning process and make informed financial decisions.