Monterey Private Wealth
2340 Garden Road #202
Monterey, CA 93940
Tel. 831.372.3426
Fax. 831.372.2964
My client was concerned about the fees they were paying for their third-party administrator (TPA) on their retirement plan, which is a defined benefit, 401k with profit sharing. We originally designed this plan to enable the business owner to tax-defer than the $46,000 allowed by traditional profit sharing plans.
A new client was referred to us by an estate planning attorney because he inherited some money and had many concerns. Step 1 in our financial planning process is our Discovery Meeting where we identify the client's most meaningful priorities. Those priorities were:
A husband and wife owned a partial interest in a successful retail chain. Five years ago they decided to sell their interest to their partner in exchange for a note. Half the note amortized over five years with the balance due in a balloon payment at the end of the note's term. The business partner has now approached our client with the offer to roll the note for an additional term. The client approached us with several questions:
A client approached us with an interesting proposition: Would we be interested in participating in a deal to buy the real estate and equipment of a pecan processor who fell into foreclosure? Our client, a senior banker with a major national bank, came across this deal in the normal course of his business and thought some of our clients might potentially be interested. So we took a look at it.
Dad is age 90, mom is age 86. Due to some "close calls" the kids would like them to move into an assisted living facility. Key issues:
Elder Care, Retirement