Planning FAQs

Many questions arise at the beginning of the planning process.  These are a few of the most frequently asked:

 

FREQUENTLY ASKED PLANNING QUESTIONS

What are the consultation fees?

 This process is somewhat different from our peers in that we do not charge for the development of what we term a "rough draft financial plan.”  Several things occur, one, we are able to better determine and relate our estimate of time to fees, and you as a client can better determine if you feel comfortable with us.  Bottom line – no surprises.

How long are the planning phases?

  We routinely initiate and complete information development for clients in a 30-day time frame.  This includes four interviews spaced 7 to 10 days apart.  I shall meet clients at their business or residence.

How often will I see my financial consultant?

 You can expect periodic reviews and updates to occur three times a year.  I have found that any more than this is considered to be too soon between appointments, however, I am always available to meet at your discretion when needs occur. 

Is it possible to have my past income tax returns re-evaluated?

Yes, reviewing to determine accuracy is important.  The advantages to you are considerable and it is a consideration in many situations.

Can you transfer our retirement account where it won’t be taxed?

We can transfer or rollover you account on a tax-free basis.  Future distributions made to you afterwards will be taxed when received as ordinary income.

Can we be protected and still earn a decent return on our funds?

Yes, there are many options to consider that offer principal protection while being linked to market returns.

We are concerned that we may not have enough money to cover our needs over time.  Can you help us understand what we will need?

Yes, one of the initial steps we take is the development of a cash flow income model, factored for inflation.  It will guide you in developing a course of action.

 

FREQUENTLY ASKED

BUSINESS PLANNING QUESTIONS

What are the consultation fees?

This process is somewhat different from our peers in that we do not charge for the development of what we term a "rough draft.”  Several things occur, one, we are able to better determine and relate our estimate of time to fees, and you as a client can better determine if you feel comfortable with us.  Bottom line – no surprises.

How long are the steps in development?

We routinely initiate and complete information development for clients in a 30-day time frame.  This includes four interviews spaced 7 to 10 days apart.  Quite often I will meet clients at their business or residence.

How often will I visit with you?

You can expect periodic reviews and updates to occur three times a year.  In addition, there may be meetings where all other advisors and consultants may be joined for a team-based approach to meet significant issues.

Is it possible to have my past income tax returns re-evaluated?

Yes, we have been scrutinizing prior taxation for accuracy.  The advantages to you are considerable and it is a consideration in many situations.

What type of entity is best?

We would not make a tax suggestion as to the efficiency of business platform until a thorough understanding was made of your personal and business needs.  Just like going to the eye doctor, a prescription here should be based upon your characteristics and focus.  Any decision would be made with the assistance of your attorney.

My balance sheet is heavy in cash.  How should I best deal with it?

We study the needs of each business as it relates to retained earnings and develop strategies that may reduce taxation and further enhance earnings.

Can you help us set up our records?

Yes, advice and oversight into how best to record your documentation or business will be discussed.  Referrals to an outside source for bookkeeping services can also be arranged upon request.

Can you assist us in our need for business liquidity?

In many scenarios we have assisted clients in the development of self-directed retirement plans where funds are loaned out from the custodian, received personally, and then invested in their business as a contribution to basis.  In our client sessions we are routinely asked to discuss details and intuition on these matters.