What happens when you've worked tirelessly to build wealth, only to face a sudden health crisis or a family conflict?

Life's biggest financial decisions often come when you are least prepared to deal with them. The loss of a spouse. A career suddenly cut short. A spouse disappearing to Alzheimer's. An inheritance that feels overwhelming.

When life throws a curveball, you don't just need a plan—you need a thinking partner. You see, navigating life's financial complexities doesn't have to be done alone. What if your financial planner wasn't just a money manager but was also your most valuable thinking partner?

Here are the traditional roles of financial planners as investment managers. They:

• Help clarify long-term goals and values that influence retirement funding, legacy planning and philanthropic endeavors.
• Identify and mitigate risks as they structure investments, estate planning and tax optimization, for example.
• Develop a robust and personalized financial plan that addresses your unique needs and circumstances.

In general, provide objective perspectives, challenge assumptions, identify blind spots, reduce uncertainty and provide ongoing support and accountability to ensure that plans stay on track.

A Thinking Partner While Planning for Major Life Events: A Proactive Approach

A financial planner's role as a thinking partner can help in many areas. Let's look at some of them:

In wealth building, you're concerned about thinking too short-term and making impulsive investment decisions. You want an intentional, diversified portfolio. And you want to be sure succession plans are in place to manage generational wealth, your legacy and maybe a business. Your financial planner can be your thinking partner as you design that future.

In retirement planning, your spouse worries that it's about more than savings and has to include income-generating strategies that ensure a sustainable income in retirement. Other worries include underestimating expenses in retirement and balancing lifestyle goals with a life-lasting withdrawal strategy. And what about those great unknowns: healthcare costs and the need for long-term care? Your financial planner can help you think through all such concerns, creating a plan that provides peace of mind.

In tax planning, you know you need to be proactive, not reactive. Strategic tax planning and tax-efficient investment tactics are what will avoid overpayment. You know that leverage is possible through charitable giving or tax-advantaged accounts, but you're not sure exactly how they work. As you implement all the needed strategies, your financial planner can be your thinking partner.

In planning for business growth, you want to manage cash flow and reinvest wisely. You're wondering if the business is structured for smart scaling – for maximum efficiency and tax minimization. As your business grows, leadership transitions and potential partnerships are also on the horizon. As you think through the best moves, your financial planner can be your sounding board.

When considering a business exit, you want to be prepared for the next chapter. You'll want to know if the business is financially and operationally ready for sale – based on a clear understanding of valuation, tax implications and deal structuring. You'll also want to plan for life after your business exit. Your financial planner is your perfect thinking partner.

A Thinking Partner While Managing Unexpected Events: Navigating Life's Curveballs

Much of planning can remain theoretical for prolonged periods – until those plans are called into action and decision-making is challenged by disruptive events. This occurs when life's curveballs hit – and when your financial planner can play an invaluable role as your thinking partner: as a guide, strategist and accountability partner.

Under normal circumstances, a financial planner can complement your thought process in countless ways. But, when life takes unexpected turns, a planner can go beyond that and help you think through tough decisions with a clear head and a strategic mindset. Instead of reacting emotionally or making rushed choices, you will have a partner who helps you pause, plan and move forward confidently.

After the death of a loved one, no matter how well you both prepare for the inevitable loss of one or the other, it's also inevitable that financial decisions will have to be made during moments of disorienting grief, even with estate plans, wills, trusts and beneficiary designations up to date. It may be hard to realize how poorly you're thinking – making a trusted family member or friend most precious. An alternative is a financial advisor who knows you, your deceased spouse, your dreams, and your plans and can be a perfect thinking partner. Help can range from creating a timeline of critical tasks to coordinating with other professionals, and even acting as a foil if other family members create pressure for immediate decisions.

In the case of an abrupt job loss, all carefully laid plans can be thrown off. It's easy to panic at all the unknowns. A financial planner familiar with your current finances and long-term plans can help map out cash flows and the best financial adjustments based on practical needs and emotional well-being. Careful use of emergency reserves can help protect the integrity of your retirement funds. A planner can set up milestone check-ins to adjust the transition plan to help you maintain a healthy outlook as you work to replace your income.

In a health crisis, such as a terminal diagnosis, the long-term burden of managing the home, the family and all forms of care shifts to one spouse. This shift becomes particularly difficult if it entails denial of a person losing cognitive abilities. Here, the caregiver truly needs a thinking partner. The need increases with finances, such as understanding convoluted medical cost projections, funding paid home or long-term care and reprioritizing financial goals to maximize quality of life for all involved. Your financial planner is uniquely qualified to be your thinking partner as a steadying force during life's unexpected turns.

After a massively disruptive geopolitical event that affects markets, widespread panic is highly contagious. Decision-making often becomes more reactive than proactive. A thinking partner can help provide a historical perspective on market recoveries, for example, and point out overlooked opportunities unique to the crisis, such as Roth conversions in market downturns. Your financial planner can fill that role with the advantage of knowing your risk tolerance, financial aspirations and general tendencies when dealing with investments – and can lend a calming hand.

Some other situations where your financial planner can be a valuable thinking partner include:

• Family disputes, particularly navigating thorny dynamics related to family business transitions or the distribution of assets.
• Second marriages and blended families that lead to complex estate planning, asset protection and intergenerational wealth transfer.
• Significant unexpected inheritances that create pressures to make investment decisions that may not align with long-term goals.
• Divorce, where financial decisions can be so emotionally charged that neither party is thinking rationally.
• A natural disaster, such as a fire, tornado or hurricane, where the loss of home and possessions makes it challenging to make the best rebuilding decisions with the available resources.

The value of having a financial planner as a thinking partner, particularly in times of unexpected emotional turmoil, is that your planner is uniquely equipped to help you navigate your new circumstances. Whether developing contingency plans to cover unexpected expenses, helping implement ways to protect assets from potential threats or guiding you through intricate legal or financial decisions – your planner can provide emotional support and help you maintain perspective during stressful times.

Life's most significant financial decisions don't have to be made alone. Whether you are preparing to navigate widowhood, adjusting to an unexpected retirement or managing any other stressful situation, WH Cornerstone is here to help you think through your next steps to move forward with confidence. Start the conversation today by scheduling a call with us soon. We're here to help.