8 Financial Planning Tax Considerations for Attorneys in Law Firm Partnerships

By Patrick Dunne, CPA/PFS, CFP®, Principal, Senior Director, SBSB Tax Department Income taxes can be especially tricky for partners in a law firm. Partners are considered self-employed for tax purposes and are required to report their share of the Partnership’s income and expense items on their personal tax returns. As a result, law firm partners tend to face a unique …

Is It Smart?

Is It SMART to Buy Long-Term Care Insurance?

By Jennifer Quigley, CFP® , CASL™,  Principal, Client Advisor Americans are living longer than their parents. Many fear that longer life may bring long periods of infirmity and dependence upon others for the basic activities of life. They are also aware that nursing home care is very expensive. Care by professionals in the home – which many people would prefer …

Law Firm Partners: Planning for the Day of Financial Independence

By Kris Andrejev, CFP®, Senior Client Advisor You work hard and someday would like to reduce the stress, and stop running by the hour!  Unfortunately, planning for retirement or gaining financial independence can be overwhelming, confusing and a time-consuming journey.  You are faced with many important and crucial decisions: Am I in position, financially and emotionally, to stop working? When …

Special Investment Portfolio Considerations for Attorneys

By Ken Alozie, CFA, CAIA, SBSB Director Portfolio Management “It takes years to gain a client’s trust… and seconds to lose it.” Trust and integrity are central to a thriving law practice.  As a successful attorney, you are privy to confidential and material nonpublic information during the normal course of business with your trusted clients.  This includes, but is not …

Save Time: Efficient Financial Planning for Attorneys

By Jason Williams, CPA/PFS, CFP®, AEP®, Principal, Senior Client Advisor For attorneys, especially law firm partners, time is money! It is difficult to expertly handle projects and cases while building and managing a successful practice. Likewise, it can be near impossible for you to juggle tasks in the office, and address all that is needed outside of the office, as …

Karen Tovey Named Newest Managing Director

Sullivan, Bruyette, Speros and Blayney, LLC. (SBSB) is pleased to announce Karen Tovey as the newest managing director at SBSB, LLC. Karen Tovey advises clients on retirement, education, investment and estate planning issues. She joined the firm in 1993 and has more than 23 years of diversified experience within the wealth management industry. Throughout her career she has cultivated a …

How to Maximize the Benefits of Your Law Firm’s Retirement Plans

By AJ Jordano, CPA, CFP®, Principal, Senior Director and Member of SBSB Attorney Practice   Your firm’s retirement plan is probably the most effective tax shelter available. However, maximizing all the benefits of your retirement plans requires an understanding of income tax, investments and estate planning. How much should you contribute?  What impact will it have on your income tax …

Congratulations to Jason Williams on His Election as President of the Washington, DC Estate Planning Council

SBSB Principal and Senior Client Advisor Jason Williams was elected President of the Washington, D.C. Estate Planning Council effective July 1, 2017. He served previously as Vice President, Treasurer and Secretary, and as a Director. The Washington, D.C. Estate Planning Council is a multidisciplinary organization with over 250 members. The Council’s goal is “to help its members render the highest …