Greg and Lindsay Brambelton
Greg and Lindsay Brambelton are 58 and 51 years old, respectively. The couple has a 19 year old daughter Samantha. Greg is a partner in a law firm. Lindsay is corporate executive with a telecommunications company. They adopted Samantha at a very early age. Since her formidable years Samantha has excelled at everything she has put her mind to. Upon graduating high school Samantha received a scholarship to the University of Pennsylvania where she wants to study business and follow in her parents’ footsteps.
Greg and Lindsay recently sought our advice to find out if they are on track for retirement. While they feel they have saved well for both retirement and Samantha’s education, they also understand their lifestyle is above average. They currently do not have a budget and don’t need one, but understand that may need to change when they retire.
In addition to retirement and investment planning, Greg and Lindsay have not updated their estate documents since they adopted Samantha over 15 years ago. Since they have amassed a large investment portfolio, they also want to make sure their estate documents will protect them and Samantha from “predators and creditors” that may come after the family’s assets. Additionally, while Samantha is not currently married they hope she will marry and have children in the future. As part of their estate plan they want to guard against future in-laws obtaining control over their family’s financial assets.
After the first meeting with Greg and Lindsay, we had several follow-up meetings that were used to uncover their concerns. We then designed a financial plan that addressed their retirement, investment, and estate planning needs. Additionally, we worked closely with their estate attorney to draft a Will, Revocable Trust, Life Insurance Trust, Retirement Trust, Medical Directive, and Power of Attorney for both of them. During the meetings with the attorney we shared the Brambelton’s concerns for protecting their family’s financial resources from outside parties. Upon completion of the engagement we believe the Brambelton’s felt their financial outlook was much clearer, their investment portfolios were more appropriately allocated, and they had put contingency plans in place to protect them in different circumstances.
This material is hypothetical in nature and not intended for use as investment advice. It does not guarantee the attainment of your retirement goals. Individual results may vary. There is no assurance that any investment strategy will be successful. Investing involves risk and investors may incur a profit or a loss. Asset Allocation and diversification do not ensure a profit or protect against a loss. Past performance is not indicative of future results.