And is it (really) possible?
Wealth Management on a Summer's Day
Family meals are often special moments to reconnect with our loved ones, whom we don't see the rest of the year. But it's not always fun... (Vincent, I love you madly)
Sometimes, it’s an opportunity to put misunderstandings, worries, and differences of opinion "on the table"... and find solutions!
But today, the weather is nice, 25°C under the wisteria.
Nathalie, wearing a floral dress and wedge heels (because she thinks she's not old enough for regular heels), 43 years old, juggles her roles as a mother, employee, and supporter of her parents... all with a smile. No nail polish, no lipstick "because after all, we're family," wrinkles around her eyes, and damp laundry in the drum... Needless to say, her mental load could make even a head of state jealous! – maybe a small state, but still...
The extended family is expected at 11:45 am... Just in time to open the peanuts and put them in the matching bowls already set aside for this purpose. She has chilled some beers, hoping to be praised for choosing amber ones. No, actually, hoping to be praised for her floral dress, her heels, her matching Moroccan bowls.
1.5 hours of appetizers. The tension rises. We will hesitate between Burgundy and Bordeaux with the lamb chops, but also the choice of a sweet wine for the cheese, let's be daring!
But in the end, no, "The St Emilion with 15-year-old Comté is still more appropriate!" Well, we won't be that daring this time.
The intoxication to smile, laugh, gather courage, perhaps? or to remain silent forever? Anyway, who will light the fuse? Who will grip their fork, eyeing their neighbor's hand with dubious intent?
In short, Nathalie has a notebook on her lap and is keeping score. When it comes to the will, there will be things to say... probably... better not miss a single bit.
Surrounded by her sister Mathilde, her husband, and their children (cute from a distance), as well as her parents, newly settled in a retirement home, the fate of the family house is at the forefront of everyone's thoughts – if not the discussions.
The house of their youth is thus empty and almost emptied... It sleeps.
Approaching the topic of wealth management without conflict
— Have you made a decision about the house? asks her sister Mathilde, addressing the pater familias.
AND BAM BAM BOOM! She lost. She cracked before Nathalie! MwaAAAaaAAA (Nathalie's diabolical internal laughter)! Everyone suddenly focuses on the toasts burning in the toaster and "the sweet wine with the cheese would have been the right choice after all."
It must be noted that, within the family clan, two positions are clashing: Mathilde wants the house to be sold, while their parents don't want to hear about it. This house is the only tangible inheritance they would leave their daughters, and it represents their entire past... Nathalie and Mathilde were born there, their grandchildren spent their summers there; the doors still have the marks of measurements taken as they grew, each tree planted signifies a new generation, a new story.
In short, everyone falls silent, lips pressed together, waiting for the final judgment, the wise word, the enlightened decision. But it never happens like that in an inheritance, a legacy, a family story.
That's why Monopoly was invented: a way to spew the accumulated venom over the years in a fake world... and then say, "oh, calm down, it's just a game"... But of course...
Now, the parents' house is beautiful and old, and it needs some repairs. If no one lives in it, its condition will quickly deteriorate.
Nathalie's feet are starting to hurt, so she sends her husband to take the cake out of the fridge.
She knows she’s treading on thin ice. She starts to sweat. Each word that comes out could slip out of her hands like soap. However, a decision has to be made.
— Could we rent it out? she suggests. That way we wouldn't have to sell it, and it would gain value. After all, it doesn't need major repairs!
— But do we have the means to do those repairs? Mathilde retorts. And who’s going to manage the rental? It requires a lot of work, and I don't have time. I work too!
Uh-oh, fatal phrase.
At this point, we can forget about coffee and treats… If we don't freeze the frame, things will go nuts (and it would break Nathalie’s heart to see her Moroccan bowls go flying!).
The discussion becomes heated between the parents, who are resistant to the mere idea of parting with the house, and the two daughters, who are weighing the pros and cons of renting it out. The disadvantages? Having to manage a rental property without being specialists. Because it's a real job, requiring legal knowledge, administrative tasks, insurance… but no one wants to get duped...
Finding the ideal solution for managing one’s assets
Silent until now, Julie, Nathalie's 21-year-old eldest daughter, chimes in on the discussion because:
— Seriously, you guys are acting like you're 10 years old. You can manage all this, Mom, without being a specialist and with just a few clicks! Even you, Mathilde, can help her out. I know of a tool that would fit perfectly!
— A tool? Mathilde asks. I’m okay with computers, but it’s all the anticipating and managing on a daily basis that worries me.
— Exactly !
She explains: Julie discovered the OMEDOM solution from a news article about the award won by this start-up from Albi. The solution they offer is truly innovative: making wealth management accessible to everyone! “And the team leading it is so cool!” (Vincent, still)
— It offers a solution for individuals where you record all the data for the property or properties to be managed, and the information is connected to the bank. Plus, you can share it with concerned family members and third parties, like experts, without being one yourself.
The young woman elaborates from memory on the main features of the solution: real-time property valuation, daily cash flow management, sending rent receipts or reminders to tenants...
— It’s a super comprehensive platform, she adds. Whether on a computer or on your phone, you have all (your) wealth at your fingertips.
— Can it also handle succession elements when the time comes? her grandfather asks.
— Absolutely! By the way, who’s the family notary? I’ll add him, and he’ll have everything in one place, and so will I, because if something happens, I don’t want to go fishing for information. Your setup is too much of a puzzle!
No longer having to search, across generations – sometimes in vain – for all the official documents, being able to manage rental property daily with ease, having a cash flow forecast accessible to all parties... The benefits of this solution quickly win everyone over: with their parents' approval, Nathalie and Mathilde decide to serve the coffee again and an Alsace pear that’s been gathering dust, while they get familiar with the platform.
And under the wisteria and the walnut tree, where the family is gathered, they can once again enjoy their shade in complete serenity. Moroccan bowls, treats, and Comté.
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