WHO WE SERVE

Anna and her father, Robert, were both long-term clients of Boston Financial Management. Anna had three brothers, who were not clients of the firm. When Robert fell ill, Anna wanted to be sure his assets were protected when he passed away.

How Boston Financial Management Helped:

Anna met promptly with her and her father’s Wealth Manager and Chief Planning Officer at Boston Financial Management. The team reviewed Robert’s estate plan and worked to minimize Massachusetts estate taxes:

• Robert was above Massachusetts estate tax exemption but below the federal estate tax exemption. BFM was able to implement large taxable gifts to reduce the estate tax liability.

After Robert’s death, the pre-death planning that was put into place began to take action. This saved the family in estate taxes and solidified BFM’s relationship with other family members who were not clients. Anna’s brothers were impressed by the services BFM provided to their clients and noted that their respective investment managers did not provide any planning services to them. As a result, they requested a meeting with the Wealth Manager and Estate and Financial Planning team at BFM to discuss transferring their assets to the firm. The relationship was formed quickly after initial meetings, resulting in the brothers transferring a large amount of new assets to BFM. The Estate and Financial Planning team continues to work with the family to review and update their estate plans, and to meet their financial goals.

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.