Wiss -Navigating Financial Transparency In Marriage

At Wiss Family Office, we regularly work with families and individuals facing complex financial situations within their personal relationships and marriages. At Wiss, we understand the unique dilemmas that can arise when navigating financial matters between spouses.

In our experience, transparency regarding finances forms a cornerstone of trust within a marriage. However, revealing unexpected wealth after years of secrecy can prove exceptionally challenging. Our dedicated financial strategists and estate planners guide clients through handling these sensitive conversations with care and consideration.

We recently worked with a 51-year-old female client who has been married for over 15 years. Unbeknownst to her husband, she had a sizeable inherited estate providing her substantial passive income annually. While she had alluded to working in investing, her husband remained unaware of the full extent of her multigenerational family wealth.

Our client supported her household single-handedly through this income throughout their marriage, allowing her husband to focus wholeheartedly on his beloved career. And while the couple lived comfortably, her net worth ran into eight figures – a shocking secret to conceal after over a decade and a half of marriage. 

Understandably, revealing the truth after so many years left our client riddled with anxiety, concerned that the news might damage the trust between herself and her husband. At Wiss Family Office, our team was able to counsel her through this challenging situation with empathy and insight. We helped equip her with strategies for gently disclosing her financial reality to her spouse to rebuild intimacy through transparency and open communication.

At Wiss, our wealth managers regularly leverage their financial acumen to assist families and marriages facing similar revelations or conflicts related to assets and estates. We take a consultative approach focused on understanding each client’s unique personal financial circumstances while upholding their need for discretion.

Our process has helped countless individuals and families achieve financial stability and success. We take a goals-based approach to financial planning, getting to know you and what matters most so we can make recommendations tailored to your unique situation and objectives. 

It includes: 

• Discovery: We have in-depth conversations to understand your unique circumstances, goals, challenges, and opportunities.

• Analysis: We perform a detailed analysis of your net worth, cash flow, investments, taxes, insurance coverage, and estate plan. We identify any gaps or opportunities. 

• Recommendations: You receive written recommendations and projections for achieving your short and long-term goals. This is based on research, best practices, and our decades of experience. 

• Implementation: We work closely with you to put the plan into action in areas like budgeting, debt management, tax strategy, and investing.

• Monitoring: Your plan is reviewed regularly to account for any changes to your situation, goals, or external factors. We keep you on track. 

Whether assisting clients with strategizing how to disclose an inheritance, managing family assets within a marriage, or developing an estate plan aligned with their legacy goals, our team brings deep experience handling sensitive conversations with care and consideration. We’re here to help provide the insights you need to balance healthy finances and relationships on your terms. Contact our Family Office Services team today to schedule a consultation.

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