Building a business, leaving a legacy

Nixon Peabody Trust Company’s guidance helped a Massachusetts business owner bequeath money to his heirs while living out his retirement dreams.

For more than 40 years, we have had the privilege of representing a Massachusetts-based self-made millionaire who built his own successful business from the ground up.

Cultivating a long-term relationship

From the start, Nixon Peabody’s full-service law firm handled a variety of matters for this business owner, from general corporate advice and counseling and real estate transactions, to labor & employment and litigation matters. Nixon Peabody earned his loyalty, and when he began contemplating retirement and realized he’d need guidance on multiple aspects of wealth management, he turned to Nixon Peabody Trust Company, a wholly-owned subsidiary of the law firm.

To preserve the legacy he built, our client sought guidance from Nixon Peabody’s Corporate & Finance and Private Wealth attorneys to enable his children to take ownership of his business. The firm played a crucial role in structuring the sale of the business to one of the children and ensuring a smooth transition as the next generation took the reins.

A financially strong future

Now in their 80s and happily retired, the business owner and his wife are enjoying their retirement, although not spared from financial concerns requiring tailored guidance. While one spouse wished to make substantial gifts to their children, the other mulled over the realities of retirement expenses and hoped to ensure the longevity of the fruits of their efforts. The NPTC team created unique financial modelling for them to illustrate their options and give a clear picture of their financial future.

On this advice, the couple realized that they could comfortably make significant financial gifts to each of their children while continuing to spend half the year soaking up the Florida sunshine.

Planning for peace of mind

For four decades, Nixon Peabody’s attorneys and advisors helped this self-made millionaire grow his business and manage his assets, providing him with the peace of mind that his family’s financial future is secure. We are honored to have been a part of this journey and look forward to supporting him and his family in the years to come.

Key Contact:

Evelyn V. Moreno
+1 617.345.6157
emoreno@nixonpeabody.com