November 2012 HNW Case Study

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Tom is 83 and Jane is 76. They have two children who are both well employed and live productive and happy lives. Tom was an attorney who headed a large patent firm in Washington DC. Jane served as an expert in international trade for much of her professional life. During the latter part of his career, Tom agreed to do work for a start up company that became very successful. Today, Tom’s share of the company is valued at $3.2M but generates $1.4M-$1.5M per year in taxable distributions. Several years ago, the company spun out one of its divisions and took the new company public. It has seen massive growth; almost no dividends have been distributed, and the company has a value to Tom today of approximately $6.4M. Tom and Jane also have approximately $5.2M in cash, $3.2M in retirement funds, and real estate of $4M for a total net worth of about $22M.

The primary planning goals were to:

Make sure that they have sufficient funds to live on for the rest of their lives

Maximize what they leave to their children and grandchildren

Increase their charitable giving

Equalize the financial positions of their son and daughter

Make a substantial provision for charity in place of estate tax if possible

You can also view our recorded case study webinars here:

www.slideshare.net/inknowvision

InKnowVision is a leader in designed plans that work for high net worth clients in the areas of taxation, estate planning and business planning. Advisors rely on InKnowVision to solve complex problems for their HNW clients and families.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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