Integrated Financial Services: WorthPrivate

Integrated Financial Services › WorthPrivate

Managing Your
Wealth for Generations

Financial success typically increases the complexity of decision-making and the level of sophistication required to maintain growth and protect assets for the long term. WorthPrivate provides the advanced level of knowledge, financial services, skilled specialists and monitoring systems required to achieve these financial objectives along with the peace of mind to enjoy them.

To learn more about how these services can be customized to meet your financial goals, please call Ann Collopy-Drew at 781-930-4802 to arrange a personal consultation with Christopher Flynn, MBA, ChFC®, our resident Certified Financial Planner™.

Case Study
The Father-Son Wealth
Preservation Plan

Managing family wealth and dynamics in a family owned business is both an art and a science.

Profile: Small, heavy construction contractor was near retirement. Company had a pension plan in place, but no buy/sell or estate plan. Father and son operated the business. Company had 37 employees.

Challenge: Company was too valuable to gift outright to the son. Family was concerned about equalizing estate values with other son who was not active in the business. Company was continuing to grow making the challenge bigger.

Solution: The company was appraised using discounts to reduce the value. Total value was reduced 60%. WorthPrivate then set up a retirement plan for the father which created a liability equal to book value. Father was able to recapitalize the company and gift the stock to the son for $100,000, making the purchase price totally tax deductible in the form of a retirement benefit. To equalize with the son, WorthPrivate arranged for the retirement plan to be payable to the son at the parents' death, estate and income tax free.