The genesis of our company is really the story of the WWII Generation and the Baby-Boom Generation. Our founder, David Corman, was working in the financial services industry as a financial planner with a particular emphasis on long-term care insurance (LTC), advising estate planning attorneys on LTC insurance.
The elder law industry was essentially a new discipline within the legal world. In 1990, David met a pioneering, elder law attorney who quickly integrated him into his law practice. That greatest generation (WWII and depression era) population, was collectively needing planning, both pre-emptive and unfortunately, crisis. As part of the planning team, David was thrust into every aspect of senior planning issues, from a legal, financial and healthcare perspective. After ten years, and working in excess of 2,000 families, David started his own firm, still incorporating legal, financial and adding a health care coordination component.
Over the years, an interesting thing started to happen. The adult children were starting to age, and with that aging dynamic all of life’s events were happening: college for children, marriages, grandchildren, retirement, and sadly, their parents passing away.
It’s no secret that trillions* of dollars will either be inherited or accumulated in savings plans that must be addressed. Our business model has now evolved where 90% of planning is with retirement and near retirement aged clients. Many issues must be resolved. Estate planning, (Will, Trusts, etc.) must be implemented and clients are asking “how can we protect our life savings and maintain our lifestyle?” In essence, these clients need a roadmap. So many issues to consider: too much risk, not enough risk, and tax considerations, are among the many variables that go into comprehensive customized and strategic planning.
This is where Generations can help. We will work closely with you in developing a strategy to accomplish all your goals and objectives and provide you with that roadmap for a worry-free retirement. As we always say, “A little planning goes a long way.”