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Case Studies

Robert - Selling The Business


Robert (Bob), age 66, has been a business owner most of his adult life.  He loved the independence and the lifestyle that being a successful business owner provided him and his family.  He has had offers to buy the business in the past, but he just wasn’t ready to sell - now he is.  During the last few years Bob has been preparing the business for sale, and has recently found a willing buyer.  He has worked with his CPA and business attorney to structure the sale in a tax efficient manner.  Bob will receive $3 million at closing and take back a note for $2 million, payable monthly over the next three years.  He has used the services of a traditional broker over the years with mixed results.  Bob mentioned to his CPA and business lawyer that he would like to explore the services of a more independent and versatile advisor, both professionals included Schiavi + Dattani on their short list of recommended firms.
 
 
Reason for seeking financial advice:  Sale of business interest and the need for coordinated financial and investment advisory services.  Tax awareness is important. 

Examples of what Bob can expect by engaging Schiavi + Dattani: 
 
·       Coordination of planning with his CPA and attorney. 
·        A plan to meet Bob’s cash flow needs in the years ahead.
·        An initial review of all significant financial matters, to see if anything needs to be addressed in a timely manner.  This review will be followed by the preparation of a more thorough financial plan.
·        A discussion about the establishment of a personal retirement plan to shelter a significant amount of consulting income that Bob will earn during the next few years in connection with the sale.
·       A plan to simplify investment management, including the consolidation of a number of brokerage accounts, mutual funds, and bank accounts.
·        Specific recommendations related to the tax efficient management of all financial assets, including allocation, and rebalancing decisions.
·         Coordinating the projection of Bob’s income tax liability for the current and following year to explore tax saving opportunities.  A plan to manage estimated tax requirements.
·         Guidance on how much financial support Bob can provide to children and grandchildren as those needs arise.  Bob can use Schiavi + Dattani as a screen for requests by family members to make sure that any gifting will not jeopardize Bob’s future financial well being.

This case study is presented to illustrate the type of financial planning assistance that the advisors at Schiavi + Dattani provide. It is not meant to be all inclusive or to represent the facts and circumstances of any actual client of Schiavi + Dattani. Clients of the firm receive reviews and recommendations unique to their own objectives, resources, and constraints.  
 


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