But His Exit Wasn’t Ready
A 64-year-old equity partner had accumulated enough wealth to retire.
Financially, he could stop working. What had not been planned was how to leave the firm.
What We Saw Coming
Several issues still needed attention:
- When partner capital would be returned
- How deferred compensation and remaining firm payments would be paid
- The tax impact of final compensation and future income
- Benefits and healthcare after departure
- Liquidity needs if firm payments arrived later than expected
- Financial actions that needed to occur before, during, and after the transition
How We Helped
We:
- Reviewed the financial provisions surrounding his departure
- Modeled expected and delayed firm payments
- Coordinated tax planning around final and future income
- Tested retirement cash flow and portfolio liquidity
- Addressed healthcare and benefit decisions
- Built an implementation timeline and coordinated the work as the transition approached
The Result
He moved from being financially able to retire to being financially prepared to leave.
Why Specialized Experience Mattered
Our understanding of the attorney journey helped us anticipate that retirement readiness was only part of the issue. We identified the financial details surrounding the actual transition, brought in the appropriate specialists, and coordinated the work through his advisor so the client did not have to manage each piece on his own.
When Beacon Pointe Can Help an Attorney
- Financially ready, but the exit has not been mapped
- Partner capital or future firm payments remain outstanding
- Benefits, taxes, or healthcare need coordination
If you’re financially ready to retire but have not mapped out how to leave your firm, a second opinion can help you coordinate partner capital, deferred compensation, taxes, healthcare, liquidity, and the timing of your transition. Meet Our Attorney Advisory Team →
Important Disclosure: This case study is provided for illustrative and educational purposes only. It is intended to demonstrate the types of planning strategies and advisory services that may be available through Beacon Pointe Advisors, LLC. The scenario may be based on anonymized, modified, or composite client circumstances and does not represent the experience of any specific individual or family. Any outcomes described, including tax, estate planning, or investment results, are hypothetical illustrations only and are not guarantees of future performance or results. Individual outcomes will vary based on personal circumstances, applicable laws, and market conditions. Beacon Pointe does not provide legal or tax advice.