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Case Study/Hypothetical Example: Dr. Judy Marsh*

Currently in Private Practice, Dr. Judy is considering selling her practice and simplifying life by becoming an employee at a local clinic again in order to spend more time seeing her kids and going to their sports and activities, at the same time balancing time with her aging parents so she can help them stay independent in their home while managing her father's care as he navigates life with a new Parkinson's diagnosis.

Dr. Judy Marsh - considering selling her private practice to become an employee with a larger medical organization while balancing the impacts on her life, family and retirement planning.

*Not a real person.  Fictional name for illustrative purposes only. 

Challenges:

 - Consider pros/cons of selling her private practice, including tax impact, closing the Profit Sharing Plan for her business, and considering cash flow changes before, during and after transaction

 - Consider personal side of the decision making process, including change in flexibility, decision making and innovation when moving from an owner to an employee and part of a larger team and organization

 -  Impact on her greater retirement planning, such as opening new account types to supplement investing opportunities due to employer-based retirement plans and their annual contribution limits.   


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 financial and lifestyle needs are 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 during business transaction, active retirement and later retirement. 


For a comprehensive review of your personal situation, always consult with a tax or legal advisor. Neither First Allied Securities nor any of its representatives may give legal or tax advice.

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Women in Healthcare  - That's me!
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