Minimizing risk to optimize outcomes

We were approached by a recently widowed client who was overwhelmed and unprepared following the passing of her husband. She had received little to no guidance from her previous advisor and tax preparer. She was unaware of crucial financial obligations, such as the need to file for portability and the need to take year-of-death required minimum distribution (RMD) from her late husband’s retirement accounts. Adding to her distress, she was heavily invested in a single biotech stock that had plummeted in value. We immediately stepped in, helping her navigate the RMD process and strategically diversifying her portfolio, mitigating further losses and setting the stage for a more secure financial future. Our client has been so satisfied with our services that she has referred her sister and close friends to us.

Converting RMD stress into tax savings

Retired and in their mid-60s, these clients needed a comprehensive long-term distribution and Roth conversion plan created after reaching retirement with substantial assets in a traditional IRA. The conversion strategy had to be customized and innovative to avoid major tax issues upon their first Required Minimum Distribution (RMD) and to best benefit their desired legacy.