Case Studies

At Legacy, we specialize in providing the client with the best solution to create optimal financial well-being. Here are some case studies of Legacy clients;

  • A client’s father passed away suddenly with a limited succession plan for the family business and real estate holdings with insufficient liquidity. We assisted the client by creating and managing a select team of professionals including attorneys, CPA’s, pension administrators and real estate consultants to form an immediate set of solutions and a long-term financial plan. An important first step was the evaluation of the inherited real estate holdings and advice on the pros and cons of retaining each asset. It was also important to build more liquidity and diversification into their overall portfolio by adjusting their asset allocation. Ultimately, significant estate tax savings were achieved and the estate was restructured to meet the needs of the new owners and their families.
  • A physician client did not have clear succession plan for his practice and related medical industry businesses. We worked closely with other advisory team members to review a final succession plan that the physician and his partners had crafted. We monitored this plan on an ongoing basis to account for unforeseen events that might require revisions. At a later date, we helped the client evaluate an exit strategy, ensuring that it was consistent with his long term financial planning goals. This resulted in the sale of his business interests to a large health care organization. After the sale, we assisted the client with transitioning to a new practice.
  • Advised clients with divorce proceedings involving multiple assets. Several of the assets were difficult to value and highly illiquid, including real estate and private equity holdings. We worked with both spouses and their respective attorneys by providing useful and timely data and by giving a financial planning perspective at each of the major decision making points. This enabled the spouses to finalize their divorce in an amicable manner and to have a thorough understanding of where they each stood financially, post-divorce.
  • Reviewed various charitable giving options with a client in anticipation of the sale of a highly appreciated real estate asset. This included reviewing the relative benefits of a private foundation, community foundation options and other charitable vehicles. We interfaced with the 501c3 organizations, the estate planning attorney, the CPA, and extended family members to devise a coordinated charitable plan for the client.
  • A new client had the bulk of his wealth concentrated in his employer’s publicly held company stock and stock option holdings. Over the next few years, we assisted him in diversifying into other stocks and bonds. By staging the divestment of company stock over several years, he was able to maximize the tax benefits of this transition and dollar cost average out of his original holdings.