We strive to help individuals and families manage wealth, retire successfully, and establish a lasting legacy. Our goal is to simplify and strengthen your financial life so that you can enjoy living.
Retiring Successfully
People are living longer, and gauging whether you’ll have enough in retirement savings to live comfortably for the rest of your life can be challenging, even for those with substantial savings. Working with a wealth planning professional can help you determine if you are on track to meet your goals and, if necessary, identify steps to take to help you get back on track.
Protecting Your Estate
If you want to protect your loved ones – your spouse, children, grandchildren, even your pets – and the assets to set aside for their well-being, you may want to consider setting up a trust.
Experience Elevated Banking
If you have been looking for a meaningful bank relationship that includes a dedicated private banker and the ability to manage all of your personal finances on one easy-to-use platform, then Boston Private is right for you.
Raising Financially Responsible Children
Educating children about money, wealth and financial planning is a critical step in helping them to build their futures. As a wealth creator and thoughtful investor, you want to be sure your children understand how to manage their finances and make good, informed decisions when it comes to spending, saving and investing.
Engaging Aging Parents
It can be challenging for families to talk openly about future plans, needs and desires for aging parents. Yet, you should consider adopting a proactive approach when working with family members to develop a plan that will adequately support mom or dad’s needs and wishes regarding healthcare, living arrangements or long-term financial wishes.
Case Study | Multi-Generational Family
A trust had to be distributed to more than 12 beneficiaries, ranging in age from 18 to 70, and the family needed help with:
- Re-aligning investments with a focus on tax efficiency. The trust was heavily concentrated in stock positions with substantial gains, necessitating professional tax management and rebalancing the portfolio for subsequent distributions.
- Transparent communication. Some of the beneficiaries had concerns about the process and involvement of other family members.
- Family education. Many of the beneficiaries had never managed wealth and needed guidance for proper long-term planning.
Our Solution
We began active management of the trust assets in order to transition the assets in the most tax-efficient manner possible. After consulting with family members regarding their short and long-term priorities, we began rebalancing the trust portfolio to align with the goals of the beneficiaries and eliminated over-concentrated stock positions in the process.
Case Study | Family Office
An established family office, which served a multi-generational family with assets of $100 million, had the majority of assets in trusts. The family office was thinly staffed and in need of a partner with a flexible range of services.
Our Solution
After a full assessment of the client’s needs, Boston Private Family Office Services worked closely with the family office to develop some innovative solutions to its various challenges.
Related Services
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Private Banking |
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Wealth Planning |
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Family Office Services |
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Trust & Estate Planning |
Community Homeowner Programs
Our lending experts have developed products to help low- and moderate-income families to attain their dream of homeownership. We have special expertise in financing community development projects that use Low Income Housing Tax Credits, New Markets Tax Credits, rental subsidies, and other governmental programs.
Our Thinking
Inflation and employment remain critical areas of focus for the Federal Reserve and Washington D.C. as politicians look to next year’s midterm elections. After a challenging September, equities roared back with an earnings season that is driving a wave of positive sentiment expected to last through the end of the year. The benefits of gold as a portfolio hedge are reexamined as inflation stakes its claim on the front burner.
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The IRS recently announced updated retirement plan contribution limits, effective 2022. It’s a great time to review your retirement accounts and consider adjusting your contributions to be sure you are taking advantage of the increased contribution limits. To see the IRS changes made for 2022, review our new contribution chart.
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When it comes to family finances, effective communication is critical for a healthy relationship. Sadly, money conflicts have led to a significant number of divorces among couples in the U.S. If you and your spouse have trouble discussing money, taking the couples and money quiz and following a few straightforward steps can help you avoid financial conflicts and strengthen your relationship.
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Discover ways to reduce your taxes now and in the future. Our tax planning checklist has been revised and updated with the latest strategies needed for your 2021 tax planning. We discuss eleven simple tactics that may help you lower your tax rates. Be sure to review these options with your advisors before the December 31 deadline.
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