We estimate a model of intra-household allocation of time-intensive parental investments. To address the identification challenge of separating preferences, expectations, and bargaining power, we leverage a unique data combination. First, we derive the quantity and quality of maternal and paternal speech from day-long audio recording using a state-of-the-art neural network classifier. Second, we elicit expectations from each parent about the returns to speech. Third, we exploit hyper-local variation in female bargaining power arising from inheritance practices. Our model and estimation reveal how female bargaining power influences paternal investments: fathers provide more and higher-quality speech investments when women have greater bargaining power, but only when mothers expect investments to improve child language development. These results align with a collective model in which powerful women elicit paternal investment when they believe it is productive. Our results highlight the role of economic power as opposed to other forms of social status in driving these investments.