Helping two physicians build a meaningful legacy

We helped a couple, aged 58 and 54, who have been married for 28 years, navigate a pivotal stage in their lives. With two children—one a recent trade school graduate and the other having completed law school—the couple was starting to think about their legacy.

Their successful but demanding careers included one spouse owning 25% of a surgery center and 100% of the real estate for their main office. With annual earnings of $1.1 million, annual spending of $500,000, and a commitment to charitable giving at $110,000 per year, their financial profile was strong. However, like many professionals, they needed comprehensive guidance and counsel to ensure their $9 million net worth was strategically managed for the long term.

We helped them create a roadmap for transitioning into retirement, which included their desire to gradually scale back work over the next four to eight years, potentially reducing their work schedules to three days a week. In addition, their children were at very different stages in terms of future income potential—one on track for a lucrative legal career, the other in a stable but more modest trade. This created a need for tailored strategies that would consider their children's unique financial needs.

Taking all of this into account, we developed a comprehensive plan to address their financial, legal, and tax strategy with a generational focus. We assisted them in preparing for the eventual purchase of a significant second home in a tax-free state, while also advising them on timing, given their desire to wait until their children settled. Balancing charitable contributions, career transitions, and legacy planning all required an integrated approach, which we provided, helping them manage the complexities of their financial situation while keeping their long-term goals front and center.

Through our tailored approach, we ensured that their hard-earned wealth was positioned to support not only their retirement but also their desire to create a lasting financial legacy. By structuring their financial plan to account for their children's differing income trajectories and planning for future investments, we helped this couple set the stage for continued growth and fulfillment as they move into the next chapter of their lives.