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Life transitions

Being promoted to a senior management position is certainly a welcome reward. Now is the time to take advantage of that financial reward for you and your family’s financial future. Planning needs may include:

  • Employee equity based compensation – review cash flow and tax planning for stock options, restricted stock units and equity based bonus plans.
  • Deferred compensation plans - coordinate existing deferrals with equity compensation awards.  Discuss pros and cons of electing further compensation deferrals.
  • Cash Flow – develop an approach of how to best employ your extra cash flow to support your life goals and enjoy the fruits of your labor.
  • Overall tax planning – coordinate with your tax preparer strategies to moderate the impact of your new higher tax rates to find you cash to save for the future.
  • Investment portfolio – adjust your portfolio allocation to reduce the impact of annual taxable investment income.
  • Insurance – review life insurance and disability coverage levels in light of increased earnings.
  • Estate Planning - determine if your Wills/Trusts need to be updated due to your increased net worth. Take into account estate taxes, probate issues and the financial needs of your children.

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