At IEM we understand that as corporate executives, surgeons, and other professionals achieving your career goals can be time-consuming and the complex nature of your financial situation may leave it challenging to manage your finances. That is why we are here to help you maximize your financial results through a well-designed plan without sacrificing your valuable time.
Our team assists you to blend short-term needs and long-term strategies to manage your investments and mitigate your tax burden all while prioritizing retirement, saving for children’s college, crafting your compensation plan, and planning according to your lifestyle. Through Our Process, we can help you with things such as:
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Jane is an executive at a large health insurance company and she is married to Jim, who has been retired for about five years already. Jane and Jim have accumulated a sizable degree of wealth thanks to their 401(k) plans and executive compensation plans that include Stock Options, Restricted Stock Units, and SARS. Jim and Jane wanted a holistic roadmap to properly address their asset complexities, devise a strategy to reduce tax implications, and have a coordinated plan to diversify out of the company stock plans. Most importantly, Jane and Jim wanted to know how to purchase a second home in a warmer climate where they can escape the Minnesotan winters and spend holidays with future generations. Finally, they wanted to make sure they were protected from future long-term care scenarios such as impacts on their family - financially and emotionally and incorporate their charitable intents into planning.
After getting to know Jim and Jane well, we helped them plan retirement income stream with complex estate planning tools to (1) allow for current living standards, (2) provide tax efficiency, (3) accomplish the goal of buying a second home, and (4) combine charitable giving with their family’s legacy planning.
In analysis, we learned of low-basis stock Jane had from pre-2008 from her company. Our team worked with her to develop a diversification strategy to divest out of her firm stock options and invest into a more diverse portfolio considering the best timing and tax implications.
In buying a second home, we helped them define their goals, comfort level of home price, and what impact the decision would have on long-term security, if any.
Jane, in particular, has strong charitable intentions. After the home purchase decision, we helped Jane select the appropriate stock blocks to donate to a Charitable Remainder Trust; while minimizing capital gains taxes.
Finally, our advisors worked to craft a strategy to minimize estate and transfer taxes by implementing an irrevocable life insurance policy for their children.
*The above is a hypothetical case study and is for illustrative purposes only. Actual performance and results will vary. These studies do not represent actual clients but a hypothetical composite of various client experiences and issues. These case studies do not constitute a recommendation as to the suitability of any investment for any person or persons having circumstances similar to those portrayed, and a financial advisor should be consulted.