Case Study

• Business ownership and retirement planning
• Inherited retirement accounts
• Estate planning and guardianship
• Life insurance review

Mark and Lisa, in their late 40s, manage a small growing business while raising two children. They wanted to enhance their retirement savings and those of their employees, establish estate planning documents, manage an inherited retirement account, and review their life insurance coverage. 

• Retirement Planning for Owners and Employees: Establishing a plan that supports both personal and employee retirement savings.
• Estate Planning: Ensuring wills, trusts, and guardianship plans are in place.
• Inherited IRA: Understanding required distributions and coordinating with tax planning.
• Life Insurance: Confirming coverage aligns with family needs without excess cost.
• Business Continuity: Planning for the future of the business in case of unexpected events.

• Evaluated retirement plan options for ease of administration and contribution flexibility.
• Suggested coordinating inherited IRA distributions over time with a tax professional to manage taxable income.
• Encouraged the establishment of wills, trusts, powers of attorney, and healthcare directives.
• Reviewed life insurance coverage relative to stated needs.
• Used financial planning tools to test different scenarios for retirement,      business succession, and market variability.

Mark and Lisa implemented a retirement plan, updated their estate documents, created a strategy for managing inherited accounts, reviewed their life insurance coverage, and began business succession planning, which gave them increased confidence in their financial future. 

This case study is hypothetical and provided for illustrative purposes only. It does not represent an actual client, and outcomes are not guaranteed. Clients should consult their own tax and legal professionals before implementing any strategy.