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Case Studies for Wealth Planning Professionals
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Case Study: The Barrington Family
Randy Fox, CFP, InKnowVison, LLC
The Real Deal: Utilizing Real Estate Investments to Solidify a Quality Financial Plan: Kenneth and Deann Barrington are 61 and 60 respectively, both in good health, and have two grown and unmarried children. Their current net worth of $14M is largely due to Kenneth's active role in real estate investment... . . . keep reading
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Case Study: The Flanders Family
Randy Fox, CFP, InKnowVison, LLC
Time is of the Essence: The Art of Short-Term Planning for Long-Term Success: Alma Flanders is 96 years old, has five grown children and several grown grandchildren, and is in excellent health. Her net worth of $12M allows her to spend freely without concern of fund depletion, but the biggest problem is that she has done little or no estate planning. In addition, her age disqualifies her from... . . . keep reading
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The Katsis Case
Randy Fox, CFP, InKnowVison, LLC
Frank and Carla Katsis are 76 and 72 years old respectively. They have three children and nine grandchildren and are a close family. They have a current net worth of a little over $11M of which $1.5M is in Frank's manufacturing business. Because of a proprietary product he has developed, he expects to sell the business for $5M in three years. About $5.6M of their net worth is invested in vacant land which is in the path of development in their community... . . . keep reading
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Case Study: The Bailey Family
Randy Fox, CFP, InKnowVison, LLC
The Financial Checkup: Overcoming Adversity in Creating the Best Prescription for Financial Success: Steven and Annette Bailey are 74 and 71 respectively, have three grown children and seven grandchildren, and hold a total net worth of $13.5M. With more than half of their assets ($7.5M) invested in mutual funds overseen by Steven, the couple lives modestly on about $100K per year. . . . keep reading
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Case Study: The Blanchard Family
Randy Fox, CFP, InKnowVison, LLC
The Benefits of Business: Creating Asset Liquidity for Stabilization of Family Wealth and Legacy: Thomas and Laura Blanchard are 57 and 56 respectively, have 11 children and 11 grandchildren, and maintain a lifestyle that is relatively modest ($250K) when compared to their net worth of $22M. Most of this wealth is tied up in several businesses that are owned and operated by the couple; businesses that are all highly successful... . . . keep reading
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Case Study: The Borden Family
Randy Fox, CFP, InKnowVison, LLC
Giving and Receiving: Making Greater Charity Contributions Possible Through Decreased Tax Obligations: Larry and Marge Borden are 81 and 78 respectively, and both have grown children from prior marriages. Because this is a second marriage for both of them and their children are successful on their own, the Bordens want to leave just $2M total to the heirs and the rest of their wealth to three or four public charities when they die... . . . keep reading
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Case Study: The Burns Family
Randy Fox, CFP, InKnowVison, LLC
Using the Family Business to Generate Growth and Protection for Family Wealth: Jack and Emily burns are 46 and 47 years old respectively, in good health, and have two children -- Kevin, 18, and Katherine, 13. Jack runs a very successful business (Burns, Inc., an S-Corp) valued at $14.5M (based on offers from publicly traded companies in the same business). . . . keep reading
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Case Study: The Curley Family
Randy Fox, CFP, InKnowVison, LLC
The Best of Both Worlds: How to Increase Tax Deductions and Decrease Tax Obligations without Compromising the Maturity of Wealth: Peter and Loretta Curley are 64 and 58 respectively, have four grown children and 14 grandchildren, and are "small town" people. Of the current net worth totaling $23M, around $15M represents the value of the family business, Curley Well Services. Peter operates the business as a sole proprietorship and reports all of the net income... . . . keep reading
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Case Study: The Gilmore Family
Randy Fox, CFP, InKnowVison, LLC
Beauty is in the Plan of the Business Holder: Creating Greater Wealth & Liquidity for the Families of Successful Businesses: Brenda Gilmore is an 82-year-old widow, has four grown children and seven grandchildren, and retains active part ownership of a company she and her husband built years earlier (Gilmore Holdings, an S-Corp.) With 35% ownership valued at $6.75M, her total net worth is $8.3M... . . . keep reading
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Case Study: The Jaffe Family
Randy Fox, CFP, InKnowVison, LLC
All in the Family: Harmonizing Inheritance around a Multi-Generational Business Transfer: Jane Jaffe is 82, has four grown children, and has a net worth of about $8M. Currently $6.7M of her net worth is in the stock of Jaffe Corp., the S Corp that she and her husband founded early in her marriage. Jane's son, Gerald, has been successfully running the business for the last 15 years and owns almost all of the balance of the outstanding shares, currently valued at around $8M...Frank and Carla Sutherland are 76 and 72 years old respectively, are active and in good health, and are very close with their three children and nine grandchildren. Their current net worth is $11M with $1.5M in Frank's... . . . keep reading
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Case Study: The Parsons Family
Randy Fox, CFP, InKnowVison, LLC
Something Old, Something New: Creating a Comfortable Future Using Existing Policies and Plans: Karl and Rachel Parsons are 54 and 47 respectively, have two grown, unmarried daughters, and have a total net worth of $6.7M. Karl is a successful physician who has worked very hard to build his practice and he would like to retire in four or five years. In preparation for this occasion he has already invested $2M in various retirement plans, and individually Karl and Rachel own life insurance policies... . . . keep reading
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Case Study: Rose Fast
Randy Fox, CFP, InKnowVison, LLC
Starting From Scratch: Building, Implementing & Managing an Estate Plan for a Widow's Wealth: Rose Fast is a 64-year-old widow who was left with an estate worth nearly $10M, of which $8.25M is tied up in two real estate properties. The value of the real estate has risen; however, the rents have not kept up with the market value. Rose uses the rental payments to support her $120K/year lifestyle... . . . keep reading
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Case Study: The Sutherland Family
Randy Fox, CFP, InKnowVison, LLC
Timing is Everything: Planning for time-sensitive distribution and protection of wealth: Frank and Carla Sutherland are 76 and 72 years old respectively, are active and in good health, and are very close with their three children and nine grandchildren. Their current net worth is $11M with $1.5M in Frank's manufacturing business and $5.6M in vacant land pending development. . . . keep reading
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Case Study: The Waldman Family
Randy Fox, CFP, InKnowVison, LLC
K.I.S.S.: Keep It Simple Solutions for Improving Investments, Inheritance, and Intentions: Joel and Renee Waldman are 67 and 66 respectively, have six grown children and 11 grandchildren that live close by, and have a net worth of $6.5M, much of which is tied up in their $2M home. Joel runs his own consulting firm, is still actively working, and has a large retirement plan in place... . . . keep reading
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Case Study: Craig and Donna Perkins
Shelia Hart
Craig and Donna Perkins are both 56 years old. Their two children are grown but not yet married. Craig is an executive at a large company but is thinking about retiring in the next three years. . . . keep reading
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Family Wealth Design
InKnowVision, LLC
InKnowVision Design Center works for you to provide the best in back office support, leaving you the time and confidence to serve your best clients and their families. . . . keep reading
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