A long career in law lends itself to planning for life and legacy

After a long career as a lawyer specializing in tax and pension trust law, Neal McNamara moved into The Tamalpais in Marin County in 2008 to take advantage of all that it had to offer in retirement. For many years, Neal was Chairman and managing partner at Pillsbury, Madison & Sutro, one of San Francisco’s oldest and most prestigious law firms.

He was already familiar with “The Tam” when he moved from his home in Napa County. His mother lived there for fourteen years, and today, Neal’s sister and brother-in-law also enjoy retirement there. Because he had long experience with tax law and pensions, Neal had a great deal of knowledge that most residents did not have and this led him to contact Senior Services for Northern California soon after moving in, as part of his overall planning.

Neal knew he wanted a life-income plan to be part of his retirement. Such plans, he knew, could provide high yields for income over the long term, and tax advantages in the shorter term. The benefit of having a lifetime income that is, in-part, tax-free, was what he wanted. On top of that, Neal received an immediate deduction that would offset any taxes that he might have to pay.

Beyond the numbers, however, Neal explains that he feels good about the gift he has made. “It benefits the community in which I live.” “I have designated the Tomorrow Fund as the beneficiary of my gift, through Senior Services for Northern California, which manages the fund. I think this is a fantastic concept – residents helping other residents – and something I don’t think exists in many other senior housing communities.”

Neal recommends that other residents look into the ways that they can serve their own interests while helping others at the same time. And he notes that there are many ways to accomplish both goals.