EideBailly

Highly-compensated service professionals include attorneys, physicians, architects, engineers and others who work in a specialized field. Typically, net worth is built through retirement accounts as well as purchasing illiquid and alternative assets. Many services professionals have a desire to own unique investments. Many times these professionals are challenged by the imbalance in the ownership of their investments, which can make it more difficult to create an estate plan. The following issues may affect service professionals:

Cash Flow

• Projecting what is needed to meet retirement income needs and other goals the client may have
• Planning to meet personal cash flow goals, such as college savings or the purchase of a second home

Risk Management

• Planning for business succession in the event of death, disability or retirement
• Planning for the personal insurance needs of the family in case of death or disability
• Ensuring estate documents are up-to-date and accurately specify the clients’ needs/wishes

Investment Management

• Managing and analyzing appropriate ownership of all assets
• Managing investment and retirement accounts