Case Study: Enjoying the Golden Years

The Situation

Having retired a few years prior, a couple of former executives had developed new goals for their wealth and they felt they needed professional guidance and direction in order to achieve them. They wanted to begin gifting wealth to their children, as well as a few charitable causes, so as to create a kind of living legacy. They were also interested in helping to fund their grandchildren's education. Meanwhile, the couple had an active lifestyle and wanted to make renovations to their sailboat, which would allow them to take it on extended trips throughout the year.

The strategies needed to maintain their lifestyle, preserve their wealth, and finance their living legacy would have to be thorough and well-coordinated.

The Solution

Through our planning process, we uncovered a number of opportunities to help the couple reach their goals. First, in consultation with tax specialists, we were able to identify opportunities to save tax while transferring wealth. Through family trusts, registered savings and charitable giving exemptions, we were able to help them preserve the wealth needed to maintain their lifestyle. We also adjusted their portfolio to help them obtain the cash flow to fund their sailing trips, and we updated their wills and estate plans so as to reflect their new goals. Finally, with our tech platform, they could take their online financial profile with them wherever they went, in order to stay informed and worry free.