One long-time family client has established 18 separate accounts ranging from the grandparents to the grandchildren. While different accounts have distinct strategies and tax implications, the entire family is viewed as one. Throughout the year, The Wallace Group works closely with the family’s tax advisors, estate attorneys, and charities to coordinate all financial matters.

A married couple in their 60s contemplated retirement after two successful careers. The Wallace Group analyzed their pensions, various Social Security strategies, living expenses and financial goals. The client received an investment strategy, a budget, monthly income distributions, and a social security/Medicare recommendation that allowed them to retire while pursuing their life goals.

A client brought a box full of trusts, wills, and life insurance policies looking to make sense of it all. The Wallace Group created a map highlighting the flow of assets in the event of death(s). This led to a discussion with the family estate attorney and revisions of their trusts, including new long-term goals for the next generation. 

A couple was building their dream home and needed short-term financing for building expenses. They preferred not to sell securities, whereby they would lose income and incur capital gains taxes. The Wallace Group arranged a Securities-Based Line of Credit. In under a month, the client was able to borrow against their portfolio – similar to a home equity line of credit – without selling securities.

A client approached us with a life insurance policy they had not reviewed in years. The Wallace Group analyzed the policy and offered considerations to discuss with the client’s life insurance agent. The client was able to lower the premium and restructure the policy to better fit their present-day goals.

A client was considering sale of a highly-appreciated real estate asset set to incur a large capital gain. Working with the client’s tax and legal professionals, The Wallace Group designed a Charitable Remainder Trust combined with an Irrevocable Life Insurance Trust. The client received a plan that reduced the tax burden, generated investment income from an illiquid asset, and provided a tax-free death benefit all while leaving a lasting legacy at a preferred charity.