Dentist & Physicians
The husband is running a small, successful private medical practice, and the wife is a dentist who owns a private practice. With no children, their goal is to retire early and travel. The CERTIFIED FINANCIAL PLANNERS™ of Heritage Investors, started the financial planning process by discussing their financial goals, any concerns, and performing a comprehensive, thorough analysis of existing finances. We discussed the potential impact of upcoming changes in the tax and health care laws on their income, practices, and retirement as we developed strategies for:

Asset Protection: We addressed concerns about malpractice insurance requirements and the protection of their personal and business assets from any potential litigation. Examples of recommendations included:

  • Asset titling
  • Protection strategies for business and personal assets
  • Insurance coverage, including life, disability

Tax Management: Recommendations to help offset the couple’s high income and minimize their tax burden included:

  • Investment strategies that offered tax efficiency
  • Maximization of qualified retirement plans and other tax-deferred vehicles
  • Opportunities for charitable giving
  • Risk management for asset protection and tax benifits