WHO WE SERVE

When a long-term client of Boston Financial Management passed away, her 30-year-old son, Daniel, became the sole beneficiary of a large trust. At first, he was overwhelmed and uncertain how to handle this new wealth. He had many questions, such as whether he should pay off his mortgage, still contribute to his retirement plan, and whether to exercise his stock options.

How Boston Financial Management Helped:

First, the Boston Financial Management team met with Daniel to gain an understanding of his full financial picture. 

• We reviewed his goals and current income tax situation
• We developed a customized investment plan to manage these new inherited assets 
• We worked with his accountant on a tax-efficient plan to exercise his stock options and determined that refinancing his mortgage was a better option than paying it off completely 

The Boston Financial Management team meets with Daniel several times a year and places an emphasis on educating him on our approach and strategy, so he can continue to feel comfortable with our on-going financial plan.

Names and identifying details in this client story have been changed to protect client confidentiality. This client story does not contain any legal or tax advice. You should always consult with your attorney, accountant or other professional advisors before changing or implementing any tax, investment or estate planning strategy.