James & Linda

Case Study #1

Senior Couple Walking in London

Ages: 67 & 65

James and Linda own a business where they have 8 employees who manage most of the day-to-day operations. They also have three children who have completed their studies and moved out on their own. 

James and Linda are able to spend less time in the business and more time with their children and eventually their grandchildren. They also enjoy the feeling of contribution that comes from running their business. That’s why they have no immediate plans to sell their business and retire.

The Challenge

James and Linda want to make sure that their savings are protected.

They want to leave something to their children and grandchildren, without spoiling them.

They want to minimize the drag of costs and taxes on their estate.

The Approach

James and Linda decided to work with a financial advisor who helped them to select investments that included guarantees and named beneficiaries. They also reviewed ways to avoid probate and fund taxes on death. Most importantly, they ensured that if one of them dies before the other, the survivor will retain all of their assets.

The Results

James and Linda have a personalized plan that shows how and when their assets will pass to the next generation. They know that their investment strategy protects their savings and fits their comfort level. And they feel that they are paying the right amount of tax and that the transition of their assets will be orderly.

They will continue speaking and meeting with their advisor regularly to adjust to any changes in tax and inheritance laws and to make sure their investments stay on track.

This case study is hypothetical and for illustration purposes only.

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