Legacy planning strategies can be an emotional and complex series of decisions. Whether you want to leave your assets to your heirs or charity, or want to develop a succession plan for your business, CPT Wealth Strategies can help you. We will design a strategy that aims at allowing you to share your life’s successes with others while leaving a legacy for those you love.

You don’t need to be wealthy to take advantage of today’s legacy options. There are many useful estate planning tools that can benefit individuals at all income levels. We can help you get comfortable with the many estate planning tools available to you and ensure you understand the terminology.

Regarding all these techniques, you might need estate planners and attorneys to help you navigate the complicated rules around estate planning. Estate Planning services are provided by your Estate Planning Attorney, Tax Attorney and/or CPA. Consult them for specific advice on legal and tax matters.

Book a consultation today to see how CPT Wealth Strategies can help you with your estate planning needs.

Insurance is a term people often use but only sometimes understand. For customers, insurance companies offer a contract, known as a policy, whereby an individual or corporation receives a promise of reimbursement against possible losses in exchange for a premium. Insurance companies pool risk this way; that means that if an insurance company has to pay out a death claim, the company is still bringing in revenue ⁽¹⁾.

There are several types of insurance. Some of them, like life insurance, are fairly straightforward. Yet, even in life insurance, there are many things to consider, like term vs. whole life. Other types of insurance, such as fixed-indexed annuity contracts can be even more nuanced. You can purchase insurance for your assets like cars, homes, boats, or businesses. You can also purchase insurance for things you may need in the future like long-term care in retirement, liability insurance for your business, or disability insurance for your profession.

People often discuss insurance as “protection,” but in reality it is risk mitigation. It helps ensure that clients don’t face their risks flat-footed, no matter what twists and turns come with life. Nothing can completely protect you from risk, however, with thoughtful, proactive, and detailed insurance strategies as part of your comprehensive financial strategy, you may have more options than you would have without insurance.

Book a consultation with me today to discuss a customized insurance strategy for you and your family.

No two careers follow the same trajectory, and no two retirements will look exactly the same. Everyone will have different income goals, needs, and strategies to achieve their own personal dream retirement.

At CPT Wealth Strategies we take the time to listen to your needs and help formulate a strategy to take you from the accumulation phase of your life to the distribution phase. According to the Center for Retirement Research at Boston College, half of U.S. households are at risk of not having enough income to maintain their standard of living in retirement. Most people can no longer solely rely on the pensions many workers in prior decades enjoyed. At the same time, stagnate wages and job insecurity have grown more common ⁽²⁾. According to experts a good rule of thumb is that your retirement income should equal about 80% of your pre-retirement income. For example, if you make $150,000 per year, you should aim to have at least $120,000 per year in retirement to live comfortably in your golden years ⁽³⁾. This disparity, to say the least, is striking.

CPT Wealth Strategies is here to help you formulate a plan that works for you. Book a consultation today for us to help you evaluate retirement income options and lend our experience.

All closely held business owners should know the value of their business throughout their lifetime. Key events such as estate planning, gifting, divorce settlements, potential sales, recapitalization shareholder disputes, succession planning, buy/sell agreements, ESOP consideration, and more can have significant implications for your retirement planning.

Selecting key people is relatively simple compared to valuing a key person. Determining precisely what monetary value a key person or owner has to the business is more complicated. When valuing a key person, the valuation should consider the company’s specific needs and determine the realistic financial exposure associated with the death or disability of the key person. A key person’s value is often not considered arbitrary at best.

CPT Wealth Strategies does not provide qualified business valuations. For a qualified or certified business valuation, consult a properly credentialed appraiser.

Book a consultation with me today to discuss a customized strategy for you and your business.

Exit planning is intertwined with the business succession/continuation plan. The plan is designed to help ensure the perpetual viability of the business, establish a market value and a method to value the shareholders’ interest in the company to be transferred/sold, and preserve the value of the shareholders’ business interests.

Exit planning is a key facet of the broader framework of business succession and continuation planning. Exit plans for businesses are designed to not only facilitate a seamless transition, but also to help ensure their perpetual viability. A pivotal objective of the exit plan is to establish the market value of the business, providing a concrete foundation for the valuation of shareholders’ interests when contemplating a transfer or sale. By creating a clear and transparent method for assessing these interests, the plan aims to streamline the transactional process and mitigate potential conflicts. Exit planning operates as a strategic compass, guiding stakeholders through the intricate terrain of transitioning ownership while simultaneously fortifying the business’s longevity and financial health.