SMOLIN WEALTH ADVISORS
manage your wealth.
Smolin’s panel of wealth advisors and finance professionals include Certified Public Accountants, Certified Financial Planners, Personal Finance Specialists and Registered Investment Advisors. These individuals have the certification, experience and knowledge to manage your wealth to allow you to focus on your business.
By tailoring financial solutions to the specific needs of each client, Smolin’s qualified advisor is able to manage your assets in order to meet your financial goals. Smolin wealth advisors are dedicated to providing excellent service, open communication and portfolio management that maximizes growth, while adhering to your requested risk level.
CASH FLOW MANAGEMENT.
Cash Flow Management seeks to manage your personal liquid assets as they would be in a business setting. Rather than seeing cash as simply a way to pay for things, Cash Flow Management looks at money management strategically in order to meet both short term and long term financial goals. This management view allows you to see how payments now can affect your liquid assets in the future. This management style is more than just a budget, which typically outlines income and expenses without creation of a system to facilitate savings and growth.
Many people forgo this step, believing that a simple budget is sufficient to meet their cash flow needs. However, a managed cash flow system, when used correctly and on a consistent basis, can strengthen your financial position. Cash management can put you in a position where large bills and savings goals, both short term and long term, are addressed in an effective way.
we’re ready TO HELP YOU.
At Smolin, we understand that your business is as distinctive as its tax needs. Regardless of the complexities involved, our approach is to partner with you closely, identifying the optimal tax planning strategies tailored exclusively to your situation. We meticulously craft plans aimed at reducing tax burdens while enhancing your financial flow, ensuring you remain aligned with your broader financial aspirations. Reach out to Smolin today, and let’s pave the path to your financial success together.
we’re ready TO HELP YOU.
At Smolin, we understand that your business is as distinctive as its tax needs. Regardless of the complexities involved, our approach is to partner with you closely, identifying the optimal tax planning strategies tailored exclusively to your situation. We meticulously craft plans aimed at reducing tax burdens while enhancing your financial flow, ensuring you remain aligned with your broader financial aspirations. Reach out to Smolin today, and let’s pave the path to your financial success together.
the smolin approach to tax services.
At Smolin, we pride ourselves on our comprehensive tax planning solutions that are tailored to each client’s unique business environment. Our approach combines deep industry knowledge with a commitment to understanding your specific needs, ensuring that our strategies not only comply with the latest tax laws but also support your business’s financial goals and growth.
Let’s Talk.
973.439.7200
info@smolin.com
ASSET PROTECTION
PLANNING.
Asset protection is a strategic way of evaluating and protecting your assets. Individuals with wealth, particularly business owners, are at constant risk financially. Lawsuits, claims, taxes and accidents can jeopardize your assets and overall well-being. A qualified wealth advisor can develop a plan based on the particulars of your situation that protect your assets. This is done in a way that makes assets difficult to reach in the event of a claim, but does not attempt to hide assets.
Attempting to self-manage asset protection could result in violating fraudulent transfer laws. Transferring assets in a manner that is not legally accepted can be viewed as fraud and may have considerable legal and financial repercussions. Therefore, asset protection is best left to professionals.
Unexpected liability can come from a number of sources including:
- Tax liability at the state, federal or local level.
- Accident claims at your home or place of business.
- Business creditors.
- Individual creditors.
- Medical expenses.
- Marriage dissolution.
- Litigation.
Generally, there are three primary methods for protecting assets legally and ethically:
- Insurance: This is the easiest way to protect your assets and wealth in case of a catastrophic event. Reviewing all policies, including life insurance, disability insurance, medical insurance, long term care insurance, property insurance and general liability insurance, is important to know if your current level of insurance is sufficient to address your needs. If insufficient, our team of wealth advisors will provide a course of action for obtaining or increasing insurance levels.
- Statutory Protection: Laws exist at both the federal and state level that outline what assets are excluded from lien in the event of a judgment. Commonly excluded assets include:
- Principal residence.
- Personal vehicle.
- Prepaid tuition plans for dependents.
- Life insurance benefits, including any cash value.
- Wages.
- Annuities.
- Qualified Plans
- IRAs
- Certain Trusts.
- Asset Placement: Asset placement means that assets are transferred to a trust, person or other legal entity. If you are held personally liable, creditors are only able to come after assets that you own. Assets that are held by another entity are outside of the reach of a creditor. There are a number of legal issues with asset placement which must be carefully considered with the assistance of a legal counsel.
we’re ready TO HELP YOU.
At Smolin, we understand that your business is as distinctive as its tax needs. Regardless of the complexities involved, our approach is to partner with you closely, identifying the optimal tax planning strategies tailored exclusively to your situation. We meticulously craft plans aimed at reducing tax burdens while enhancing your financial flow, ensuring you remain aligned with your broader financial aspirations. Reach out to Smolin today, and let’s pave the path to your financial success together.