Background
Jordan is in her late 50s and was a partial owner in her late husband’s business. She came to us when she was facing many challenges following the passings of her husband and mother. As a young, recent widow, she turned to us to help make sense of all the pieces and work with her, her CPA, and her estate attorney. Her financial and tax situation was very complex as she was involved in a family-owned business and had inherited assets that she didn’t know how to manage.
Challenges
- Recently widowed
- No estate plan
- Family-owned business
- Complex financial and tax situation
Benefits
- Built a comprehensive financial plan
- Helped obtain affordable health insurance
- Helped minimize capital gains taxes
How We Helped
We were able to assist Jordan in a multitude of ways. First, Jordan began to feel more comfortable after we created a financial plan. The plan illustrated how much she could afford to spend without worrying about running out of assets. We conducted a comprehensive analysis which allowed us to help minimize her taxes by reducing capital gains. Next, we recommended a series of steps so her high-earning child could minimize the taxes he would pay in the future. We assisted her with a strategy for claiming social security and helped source affordable healthcare until she qualifies for Medicare. We worked with her CPA & estate attorney to ensure all facets of her situation were accounted for as well as developed a strategy that allows her to engage in charitable gifting & other initiatives.
Financial Plan
She now feels at ease, knowing she has a well-defined plan in place and can spend without constant concern of depleting her assets.
Tax Planning
Reduced taxes for the present and the future for Jordan and her son who is in a high marginal tax bracket.
Insurance
We helped her find affordable coverage that suited her needs until she reaches Medicare age.
Charitable Gifting
Jordan is happy she is able to give back to charitable organizations close to her heart.
Contact us to see how we can help you!
Email us at info@centerlinewealth.com or give us a call at (502)-242-1561 to learn more.
*Names have been changed to ensure privacy.
