Bill and Margaret have been clients of our firm for more than 20 years. Their small business was challenging, but through hard work and solid management, successful.
We have worked with Bill and Margaret by analyzing their business and making decisions for growth, improved profitability and work-load balancing. As their children and their business grew, we helped them manage the risks at the various stages in life. We talked with their bankers and lawyer to ensure all aspects of their plans were known and understood. Planning their financial world helped to co-ordinate their personal goals with their business goals, ensuring financial success. Further, we planned for efficiency in income taxes; we have prepared their personal and corporate tax returns since day one.
Income tax planning, ongoing structural changes to their business organization and implementing a structure of a Family Trust and a Holding Company have contributed to saving thousands of tax dollars and deferring even more for Bill and Margaret. Planning and setting aside the necessary capital for their retirement has been their recent focus.
Two of their three children are now taking over the family business. We currently work with Bill and Margaret to help implement their new primary goal of managing their investments: capital preservation. Bill and Margaret tell us that our knowledge of the business and their personal lives, combined with our collaborative approach, has reduced their stresses in life. Scott Wolfe's financial planners and professionals are also now working with Bill and Margaret's children.