Case Studies

Case Studies

The following case studies are similar to creative strategies
we’ve implemented for our clients.

The following case studies are similar to creative strategies we’ve implemented for our clients.

Growing Pains

Primary Goal: Business Growth

At 49 years old, Joanne started an apparel company, and, within three years, they saw sales increase to more than $10 million annually. Despite the successful sales numbers, she was having trouble with employee management and taxes. After a business strategy meeting, she understood the importance of outsourcing human resources (HR). The company engaged an HR company to evaluate policies and establish both a compensation, benefit plan and creation of an employee handbook. During the meeting, it was also revealed that taxes were a major issue for Joanne. It was suggested that she work with a third-party administrator to illustrate a defined benefit (DB) plan and profit-sharing plan for the company.

Legacy

Leaving a Legacy

Primary Goal: Business Retirement Transition

After helping James and Agnes sell a business they owned for 30 years, they started considering what to do with the money they made from their business sale. Both having children from previous marriages, they were concerned about their legacy and how to leave equal amounts to each child. An estate plan was developed to leave a legacy for their children and set up a charitable remainder trust where they could leave money to their charity of choice and receive tax-favorable income in retirement. The couple were also concerned about long term care and how to cover the cost. We suggested a life insurance policy with a long term care rider to address these concerns.

Loss

An Unexpected Loss

Primary Goal: Business Succession / Integrating Personal & Business Strategies

Hector and Kathleen were married for over 35 years when, unfortunately, Kathleen passed away at the age of 54 after a battle with cancer. They owned two florist shops in Atlanta. Hector was not sure if he wanted to continue the business because it would be difficult to handle the operations load on his own. They have two adult children, Margaret and Alec. Alec was a construction worker and Margaret had just received her MBA. Originally, Margaret wanted a big corporate job but decided, after her mother passed, that she would like to take over the family business. After participating in a legacy planning workshop, a strategy was developed so that a portion of the business profit go into a Living Trust to be split by both children upon Hector’s passing. A buy-sell strategy was also created for Hector and one of the store’s long-time employees, who hopes to buy the business in 10 years.

Growing Pains

Primary Goal: Business Growth

At 49 years old, Joanne started an apparel company, and, within three years, they saw sales increase to more than $10 million annually. Despite the successful sales numbers, she was having trouble with employee management and taxes. After a business strategy meeting, she understood the importance of outsourcing human resources (HR). The company engaged an HR company to evaluate policies and establish both a compensation, benefit plan and creation of an employee handbook. During the meeting, it was also revealed that taxes were a major issue for Joanne. It was suggested that she work with a third-party administrator to illustrate a defined benefit (DB) plan and profit-sharing plan for the company.

Legacy

Leaving a Legacy

Primary Goal: Business Retirement Transition

After helping James and Agnes sell a business they owned for 30 years, they started considering what to do with the money they made from their business sale. Both having children from previous marriages, they were concerned about their legacy and how to leave equal amounts to each child. An estate plan was developed to leave a legacy for their children and set up a charitable remainder trust where they could leave money to their charity of choice and receive tax-favorable income in retirement. The couple were also concerned about long term care and how to cover the cost. We suggested a life insurance policy with a long term care rider to address these concerns.

Loss

An Unexpected Loss

Primary Goal: Business Succession / Integrating Personal & Business Strategies

Hector and Kathleen were married for over 35 years when, unfortunately, Kathleen passed away at the age of 54 after a battle with cancer. They owned two florist shops in Atlanta. Hector was not sure if he wanted to continue the business because it would be difficult to handle the operations load on his own. They have two adult children, Margaret and Alec. Alec was a construction worker and Margaret had just received her MBA. Originally, Margaret wanted a big corporate job but decided, after her mother passed, that she would like to take over the family business. After participating in a legacy planning workshop, a strategy was developed so that a portion of the business profit go into a Living Trust to be split by both children upon Hector’s passing. A buy-sell strategy was also created for Hector and one of the store’s long-time employees, who hopes to buy the business in 10 years.

These are hypothetical situations based on real life examples. Names and circumstances have been changed. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investments or strategies may be appropriate for you, consult your financial advisor prior to investing.

These are hypothetical situations based on real life examples. Names and circumstances have been changed. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investments or strategies may be appropriate for you, consult your financial advisor prior to investing.

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