While equity compensation can take many forms, it usually involves receiving or acquiring company shares from an employer. Also known as stock-based compensation, there are several ways an employer can give shares to employees, including stock options, stock purchase plans and restricted stock units. We assist by analyzing the overall effect of such financial incentives within a diversified portfolio and develop a plan for how highly concentrated stock positions should be handled so there is not an overabundance of company-specific risk.

Most people feel as if a weight has been lifted after completing (or updating) their estate plan. Contrary to popular opinion, estate plans do more than specify what happens to assets and property. They provide instructions to care for children and family members, safeguard family businesses, designate individuals to make health and financial decisions and support organizations via charitable giving plans. From our experience working with clients on this endeavor, we know that nearly everyone can benefit from having an up-to-date estate plan.

Insurance needs change as you move through this stage to protect you against different risks. For example, you may want to increase life insurance to ensure your family will be taken care of in the event of the loss of income from the primary earner.

There may be additional costs associated with health insurance as your family grows. We start by understanding potential risks and then build case scenarios based on needs to determine appropriate solutions.

When contemplating how to pay for college, most families expect to cover expenses through a combination of three sources: 1) savings, 2) student loans and 3) scholarships. The college landscape has changed drastically over the past decade with colleges offering need-based financial aid and (non-need-based) merit money.

We help families understand their options and then create a realistic plan for managing college expenses. This includes helping families select an appropriate 529 college savings plan, in which savings are tax-free when withdrawn to pay for qualified college expenses.

We help families understand the long-term care process, why insurance is essential and what happens throughout the claim process. As caregivers ourselves, we know what a family goes through when a loved one becomes care dependent, including the responsibilities that caregivers assume even when professional healthcare services are in place.

We create structured financial plans to provide assistance for loved ones and comfort to the individuals acting in the role of caregiver.

To devise an optimal timeline, we look at the opportunity cost of delaying or taking Social Security benefits early. Then, we form a strategy sustainable to age 95. Planning to take Social Security benefits early? We first consider a spouse’s age and whether one spouse is still working, which are major factors that can change the timing of when to apply. Choosing to postpone benefits? We assess the impact of withdrawing more from an investment portfolio now while delaying Social Security for a higher monthly payment later.

Every vision of retirement should be translated into a practical plan of action. We address three questions to better define what retirement will look like.
WHEN: Timing comes into play to determine the optimal age to retire and successfully optimize Social Security benefits.
WHERE: There are many factors to consider, such as proximity to family and friends and the cities and states affording the most amenities and tax benefits.
HOW: It is essential to know how much will be required to maintain a specific lifestyle and how to preserve savings with asset allocation and location strategies.

Medicare is a valuable healthcare benefit for people over age 65. However, complexities of the federal program can leave many unsure of how to proceed. Merely enrolling in Medicare can be challenging with penalties for failing to sign up during the enrollment period. In 2021, The New York Times described the program this way: “Medicare features an alphabet soup of plans, coverage choices, premium levels and enrollment rules.” We explain what Medicare covers to help clients determine optimal timing and selections for Medicare Part A, B and D and the need for additional coverage.

Healthcare expenses grow each year and not by a small amount. Every year, Fidelity estimates how much a retired couple might spend in healthcare costs over their lifetime. In 2021, that amount was $300,000.

We think healthcare expenses should be a main topic of discussion when making plans for retirement. We help our clients by building plans that account for healthcare costs and protect the savings they have accumulated so they can continue to enjoy retirement.

A charitable giving strategy should focus on more than where to give with emphasis on how to give using the proper charitable giving vehicles. We know when it would be advantageous to use a charitable remainder trust.

We can explain when a charitable gift annuity would be appropriate and the circumstances in which you might need a donor-advised fund. We help design optimal charitable giving plans to support the organizations and causes our clients hold dear.