Case Study: Sharon & Terry Patent
- Successfully sell business while addressing the tax impact of capital gains from the sale
- Estate planning and caring financially for a special needs family member
- Sailing & travel without worrying about their cash flow
How we work together:
- Create a plan in collaboration with their business broker, review deals & terms together and review projections to optimize the sale of the business.
- Referral to experienced estate planning attorney and facilitate communication between trusted professionals for financial, tax and estate planning matters for efficiency and ease between those important areas.
- Ensuring family member with special needs will be taken care of financially and addressed appropriately with estate planning, as needed, and with a consideration for potential complicating factors
- Create cash flow solutions, including order of which account type to access and impact on taxable income with an understanding of priority needs and wants for active retirement and later retirement.
Sharon and Terry were open to advice and we worked together with their business broker. They received multiple offers on their family tech business. After discussions by phone and in-person, Sharon and Terry felt comfortable selecting a buyer that best fit their needs. With the numbers analyzed and their needs clearly defined, they were strong in their negotiations. Their final deal was a great price for their business, a tax-efficient payment schedule to enhance their retirement income, a lowered obligation on their time to create more time-freedom and a contractual confirmation the name of their business wouldn't change for a certain period of time in honor of a beloved family member.
Sharon and Terry are confident their retirement income is sustainable, efficient and available when and where they need it. They are enjoying retirement on the lake and ample time to dote on their newest grandbaby. Their new life goal is to learn more about ocean sailing and spend a month on their boat chasing the sun.
Whether you are investing to build wealth, protect your family, or preserve your assets, our personalized service focuses your needs, wants, and long-term goals.
Our team of professionals have years of experience in financial services. We can help you address your needs of today and for many years to come. We look forward to working with you.