This case study is based on an actual engagement with a Cerity Partners client. Facts and identifying details have been altered, generalized, or omitted to protect client confidentiality. This client’s experience is not representative of the experience of other clients and should not be viewed as an indication or guarantee of similar results. This description does not constitute a testimonial or endorsement of Cerity Partners’ advisory services.

The situation

Following the death of a family member, the surviving spouse and adult children were suddenly responsible for a complex collection of financial, legal, tax, investment, and administrative decisions.

The family had an estate plan and several experienced professional advisors. What they did not have was one person responsible for coordinating the entire process.

Accounts needed to be identified and retitled. Trusts had to be funded. Tax obligations and filing deadlines required attention. Insurance policies and beneficiary designations needed to be reviewed. Near-term liquidity had to be established, and the family’s investment strategy and financial plan needed to be reconsidered.

All of this was occurring while the family was grieving.

The challenge

Even a thoughtfully designed estate plan does not implement itself.

Estate settlement often requires the coordinated work of attorneys, accountants, trustees, custodians, insurance professionals, investment advisors, and family members. Each professional may handle an important part of the process, but no one is necessarily responsible for connecting all the pieces.

Without clear leadership, the family can be left trying to determine:

  • Which decisions need to be made immediately
  • Which assets are owned personally, jointly, or in trust
  • How taxes, expenses, and distributions will be funded
  • Which accounts must be retitled or transferred
  • How investment responsibilities should change
  • What information beneficiaries need to receive
  • Whether the surviving spouse’s income and cash flow remain secure
  • How the family’s estate and wealth-transfer strategy should evolve

The technical work was significant. The greater challenge was helping the family make sound decisions without becoming overwhelmed.

Our approach

Our family office team became the family’s central point of coordination.

We worked closely with the estate attorney, accountant, trustees, custodians, insurance professionals, and the family’s other advisors. We organized the workstreams, clarified responsibilities, monitored deadlines, and helped the family understand what needed to happen next.

Our work included:

  • Preparing a consolidated inventory of accounts, trusts, insurance policies, liabilities, and key estate documents
  • Establishing a timeline of legal, tax, administrative, and financial priorities
  • Coordinating communication among the family’s professional advisors
  • Assessing liquidity needs for taxes, expenses, debt obligations, and beneficiary distributions
  • Assisting with account retitling, trust funding, and asset transfers
  • Reviewing investment portfolios in light of the family’s changed circumstances
  • Evaluating the surviving spouse’s income, spending, and long-term financial security
  • Helping family members understand complex decisions in straightforward terms
  • Updating the family’s financial, investment, estate, and wealth-transfer strategies
  • Providing continuity so the family did not have to manage every advisor and deadline personally

Throughout the process, our role extended beyond providing investment advice. We helped the family determine what mattered, what could wait, and who was responsible for each next step.

The outcome

The family moved from uncertainty to an organized and understandable plan.

Immediate liquidity needs were addressed. Accounts and trusts were transitioned appropriately. Advisors worked from a common set of priorities, and the family received regular communication regarding decisions, deadlines, and progress.

Just as importantly, the surviving family members were able to spend less time managing paperwork and professional advisors during an already difficult period.

After the estate-settlement work was underway, we helped the family establish an updated financial plan reflecting its new circumstances. The revised plan addressed cash flow, investment strategy, risk management, estate planning, family governance, and future wealth-transfer decisions.

The family office difference

Many families have an attorney, an accountant, an investment advisor, and an insurance professional.

Far fewer have a trusted advisor who understands the complete financial picture and accepts responsibility for helping all of those professionals work together.

During an estate settlement, that distinction becomes especially important.

Our value was not simply completing a list of administrative tasks. It was bringing organization, judgment, and continuity to one of the most difficult transitions a family can face—and helping the family move forward with greater clarity and confidence. For more information, visit our practice page or call 312-715-3814.

Cerity Partners, LLC (“Cerity Partners”) is an SEC-registered investment adviser with offices across the United States. Registration as an investment adviser does not imply any level of skill or training. The information provided is not intended as personalized investment, tax, or legal advice. There is no guarantee that any opinions, projections, or views expressed will materialize. You should consult a qualified professional before making financial decisions. Information is subject to change without notice and is believed to be reliable but is not guaranteed. For Cerity Partners’ registration status, please visit the Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov. For additional details about our services, fees, or potential conflicts of interest, please request our disclosure statement, including Form CRS and ADV Part 2, using the contact information provided.

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