Jill & Bob: Early Retirement Years
The clients:
Jill (age 66) and Bob (age 68) are married and are in their early retirement years.
The couple has two adult children and three grandchildren.
Jill worked as a VA nurse, and Bob was a pilot for the Navy and then later had a career at American Airlines.
Between their pension income, savings, and real estate properties, the couple has more than enough money to last retirement.
The situation:
Jill’s mother recently passed, and Jill inherited a large sum of wealth.
The couple’s current financial advisor, who they have been working with for over 15 years and has only focused on investments. Included in their current portfolio is a significant amount of K-1 income which is causing them a lot of frustration around taxes. In addition, their investment portfolio includes a lot of complex investment structures and overall has a high fee structure.
Their biggest concerns are around legacy planning, making sure they reduce taxes, and simplifying their overall financial picture as they head into their 70s.
How CFC can help:
Create a customized investment portfolio to help the couple save on fees and simplify their holdings.
Coordinate with the couple’s CPA around tax planning.
Facilitate meetings to engage the entire family around their wealth.
Serve as a corporate trustee to simplify the distribution of assets and maintain harmony within the family.
