Sally (25), Kate (28), and Kyle (30), were living on their own—in three different states—and each was still relying on family financial support for many elements of their lifestyle. Their parents wanted the kids to begin taking responsibility for expenses and building a foundation of self reliance that would enable them to flourish.   

The Cline’s Matter team began by helping Jeff and JoAnn articulate their values and develop a shared vision and goals for their wealth. We then brought the kids into the conversation and worked together to hone a wealth purpose that engaged and inspired everyone in the family, individually and collectively. 

With that common purpose in mind—and a full assessment of their financial world—Matter got to work creating and implementing a Family Strategic Plan to help the Clines move forward thoughtfully and intentionally. 

It included: 

  • an investment plan for each family member and entity, with a particular focus on maximizing tax efficiency for Jeff and JoAnn 
  • a cash flow plan that helps Jeff and JoAnn discern how much to transfer to trusts for the children, so that they can easily maintain their lifestyle in retirement
  • an estate plan, including a short- and long-term inheritance plan for Sally, Kate, and Kyle 
  • a plan for meaningful giving to causes they care about

During this time, Matter worked with each member of the Cline family to build financial skill, so they feel more informed and empowered around their wealth.

During this time, Matter continued to work with each member of the Cline family to build financial skill, so they feel more informed and empowered around their wealth. Our team helped Jeff and JoAnn to broaden their investment acumen and expand their portfolio to include private investments.  

We set up individual meetings with Sally, Kate, and Kyle to talk about strategies for spending and saving, and to answer questions about their investment portfolios. We worked with Sally to develop a budget while in graduate school abroad, helped Kate navigate her first home purchase, and strategized with Kyle to think through the financial plan for a new business venture. Through this work, Matter helped all three children to more clearly see their wealth as a tool to fuel their ambition and support their success.    

Matter also facilitated several family meetings, bringing all the Clines together to see each other face to face, have fun, and discuss progress toward their financial and personal goals. The Clines feel confident in the framework provided by their Family Strategic Plan—and the rising generation is ready for their new responsibilities as stewards of their legacy.

The information above is based on actual client situations but names and facts have been altered for privacy purposes.