But Still Didn’t Know If He Could Step Back
A 57-year-old law firm partner had approximately $5.8 million in investable assets. He was not ready to retire, but he wanted more control over how much he worked.
What We Saw Coming
His decision involved more than replacing part of his income.
- Some of his wealth and future cash flow remained tied to the firm
- Partner capital was part of his net worth but was not readily available
- Deferred compensation could affect future income and taxes
- Family spending had never been tested against lower earnings
- His investment strategy was still focused on accumulation even as his goal shifted toward flexibility
How We Helped
We:
- Modeled several reduced-work and compensation scenarios
- Separated liquid wealth from firm-related assets and future payments
- Tested spending and portfolio withdrawals under each scenario
- Coordinated investment and multi-year tax planning
- Incorporated family goals into the same analysis
The Result
He could see that his choices were broader than full-time partnership or retirement. His accumulated wealth had already created more flexibility than he realized.
Why Specialized Experience Mattered
Our Legal Professional Advisory team draws on shared best practices across our professional advisory teams and considers likely and potential life events through the lens of an attorney’s career journey. That helped us look beyond his initial question, anticipate the firm, tax, and family issues that mattered, and bring in the right expertise through his advisor without requiring him to coordinate every piece himself.
When Beacon Pointe Can Help an Attorney
- Wants to work less without fully retiring
- Significant wealth or income is still tied to the firm
- Unsure what accumulated wealth now makes possible
If you want to work less without fully retiring, a second opinion can help you understand how reduced hours or income could affect your cash flow, taxes, investments, firm-related assets, and family goals—and what flexibility your wealth may already provide. 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.