Case Studies: How We've Helped Clients

 

Case Studies: How We've Helped Clients

By Kyle Mostransky, LUTCF®, CLTC
Posted on December 15, 2016

At Mostransky & Associates, we specialize in serving successful business owners, individuals, and families who want to build and protect their hard-earned assets. From capital accumulation and income protection to business succession and estate planning, our comprehensive services run the gamut and are designed to address all of our clients’ needs and help them along their financial journey.

By assisting in so many areas of financial guidance and investing, we seek to be available to our clients in every life milestone and phase they experience. Our ultimate goal is to offer people peace of mind and confidence in our abilities and guidance.

Proactive financial strategies can make a significant impact on your financial future beyond attaining peace of mind. It can also make all the difference in terms of your retirement plans, business desires, and legacy wishes. Here are four recent examples of clients we have helped

Case Study #1: Exiting a Business

One business owner I worked with was approaching retirement but wasn’t sure how to gracefully exit his business and sell for its maximum value. He also didn’t have a clear idea of how he wanted to live in retirement or how he and his wife would spend their days.

We started by helping his wife and him identify their retirement needs and wishes, including their desired lifestyle, annual income, medical requirements, and more. From there, we dove deep into their finances to see how they would fund their retirement, taking into consideration Social Security, payout and earnouts from his business, savings, and other income sources. This helped the couple have a much clearer picture of what their retirement lifestyle would look like.

Once we tackled their retirement plan, we assisted the business owner with obtaining a valuation of his business so he could achieve the highest potential payout from a buyer. We believe many of our business owner clients choose us because we can coordinate their personal finances and business planning needs.

Case Study #2: Leaving a Child a Legacy

Estate planning is notoriously complicated, which is why so many people put off creating a will or determining how they’ll transfer their assets to the next generation. One couple knew the importance of planning ahead for their estate, but they weren’t sure how best to take action. Upon reviewing their financial situation, we determined the most appropriate step was to transition a significant amount of assets from the husband’s large estate to his wife and son. Serving as the quarterback of their team and collaborating with their attorney and legal team, we ascertained how best to remove the assets from his estate but still allow him control over it should he need it in the future.

We frequently work with clients’ other professionals when their needs require legal or tax specialization. This can help clients receive more sophisticated and comprehensive financial strategies and support.

Case Study #3: Managing a Complex Estate

Estate planning can be tricky when there’s a business, real estate, and multiple families involved. Such was the case with one client. This client owned a valuable business and significant real estate. And as he was currently married with a family and had a previous family during his first marriage, there were several heirs involved.

Combining our legal expertise and collaboration with an attorney, we helped assess the situation of the multiple family members — including biological children and stepchildren — who were due to inherit our client’s estate.

Additionally, we valued the business to help his current wife understand the transfer of wealth and who would receive what upon his passing. Should her husband pass before her, she would know how he wanted his estate handled and what his children and stepchildren would receive. Overall, this situation was as much about education as it was about financial and legal intricacies.

Case Study #4: Building a Business

Running a business is never easy. Starting one as a new business owner is even more challenging. One client we worked with was a new business owner in such a situation. He wanted to invest in his employees and offer benefits that would help him retain his most valuable team members.

Based on his situation, we determined an appropriate solution and helped him set up and implement a deferred compensation plan and employee benefits. We also educated him and his employees on the plans and their options.

Once his employee benefit plans were in place, we worked with him to develop a game plan for his and his business’ future, regularly meeting to adjust strategies when needed. This included establishing life insurance to protect his family, starting a retirement plan, and implementing personal financial strategies.

Helping You

We work with a diverse range of clients facing unique needs and situations. Whatever the situation, we aim to tackle them through a proactive process that focuses on understanding your personal circumstances, addressing your concerns or fears, and creating strategies designed to help you achieve your goals.

If you’re experiencing a situation similar to one of these case studies or face an entirely different need, we encourage you to reach out to us. We’d be happy to evaluate your situation and share how we can help. There are no obligations, and your consultation is complimentary. Get started by calling 631-425-9383 or emailing kyle@mostranskyfinancial.com.

About Kyle

Kyle Mostransky is the founder of Mostransky & Associates with more than a decade of experience providing retirement planning and insurance services. He specializes in helping successful business owners, families, and individuals grow, protect, and distribute their financial resources in a manner that’s in alignment with their objectives and values. Passionate about education and understanding the life insurance industry, he is a Life Underwriter Training Council Fellow (LUTCF®) and holds the Certified Long-Term Care designation (CLTC®). Based in Huntington, New York, Kyle serves clients throughout the greater New York City metropolitan area and across the country. To learn more, connect with Kyle on LinkedIn or visit www.mostranskyfinancial.com.

Kyle Mostransky, CLTC, LUTCF®, California Insurance License #0H17709, is a Registered Representative offering securities through NYLIFE Securities LLC, Member FINRA/SIPC, A Licensed Insurance Agency, 15 Green Street, Huntington, NY 11743, (646) 227-8384. Member Agent, The Nautilus Group® is a service of New York Life Insurance Company. New York Life Insurance Company, its agents or employees may not give legal, tax or accounting advice; everyone should seek and rely upon the counsel of his or her own professional advisors. Mostransky & Associates LLC is not owned or operated by New York Life or its affiliates. 1717635 12.22.2018