THE SITUATION

The Johnsons are a wealthy couple in their 80s living in Dallas. They have a significant estate and want a strategic plan in place for how to make generous donations to various charities anonymously. They also have a grown daughter married to a man whom the Johnsons do not fully trust. They want to ensure that their daughter and grandchildren are cared for with money that is specifically designated for them alone.

THE SOLUTION

As longtime clients of CD Wealth Management, Scott Cohen and his team have worked closely with the Johnsons for many years to protect and grow their portfolio. When the Johnsons indicated they were ready to talk about legacy planning, Scott set up a series of family meetings with the Johnsons and their daughter. He encouraged the Johnsons to speak openly about their desire to care for their daughter and her children and their concerns about their son-in-law. Through the meetings, the Johnsons and their daughter were able to begin to heal a rift that had been growing. Additionally Scott helped them fund trusts for each of their grandchildren and named their daughter as trustee. 

Scott and his team also worked with the Johnson’s attorneys to create a foundation dedicated to providing anonymous donations to various Dallas-based charities. The Johnsons have the confidence of knowing their wealth is protecting their daughter and her children and blessing thousands through their generous anonymous gifts to landmark Dallas charitable institutions. 

The Johnsons are real clients. Their family name has been changed to protect their privacy.