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Dentist Forced to Retire Early Due to Disability: Long-time client, Dr. Smith ran an LLC practice in NH. Over time, his hands became less responsive and working was more difficult. It became apparent he would not be able to continue his practice for as many years as he anticipated. Years before, we reviewed Dr. Smith's insurance coverage and facilitated his buying the proper long-term disability coverage. Dr.Smith began receiving benefits while we helped him structure a plan to sell his practice.
Dentist Improving Financial Status: After years of working in her S-Corp dental practice, Dr. Jane is finally in a position to gain a financial foothold. Her income is dramatically increasing and taxes are becoming an issue. Through our financial planning process, Dr. Jane discovers how a different retirement plan through her business could effectively increase her savings while reducing her overall taxable income. We developed a savings structure to provide her income tax flexibility in future tax years and we also addressed her insurance risks. She now has a long term strategy for maximizing her financial assets.
Established Physician: Dr.John had been a do-it-yourself kind of person. Recently, his demanding work schedule made it difficult to manage his family's financial life. We showed Dr. John more cost effective investments in his 401K retirement plan. Because the majority of his savings were in qualified retirement accounts, we helped Dr. John and his wife put together a savings plan that increased liquidity and provided tax flexibility for the future. We simplified his financial life by consolidating many of his old brokerage accounts (held at a number of different firms) and reduced his overall investment costs. We provided a game plan for retirement that helped him reduce his reliance on selling the business. We are now working on an estate strategy that includes a succession plan.