Wealth planning for
Northfield families.

Yes. Northfield is one of roughly thirty Cook County and Lake County communities we serve from its Evanston office at 909 Davis Street. The firm has been planning retirements for Cook County families since 1977, and meets Northfield clients in the Evanston office, at their home, or by video call.

Many Northfield residents have lived in the same home for 20-30 years and are approaching retirement with significant home equity, solid investment savings, and a strong desire to remain in a quiet, established community that has served them well. The retirement planning conversation in Northfield frequently involves the decision of whether to tap home equity or let it continue to grow as an estate asset, and how to structure investment withdrawals to sustain the Northfield lifestyle through a long retirement. we coordinate Social Security claiming, retirement account withdrawals, annuity and life insurance placements, long-term care funding, and estate decisions into one written plan tailored to the Northfield cost of living.

Many Northfield residents have lived in the same home for 20-30 years and face meaningful decisions about whether to age in place or downsize. We help them evaluate the tax consequences of selling appreciated real estate, plan for the healthcare costs of aging in a higher-cost suburb, and build an income plan that doesn't require leaving the community they love. Northfield's median home value of $680,000 and median household income of $165,000 mean planning here's shaped by local cost-of-living realities, not a national average. Roughly 36% of Northfield residents are over 55, and many have spent decades building equity that now needs to be coordinated with retirement income, healthcare, and estate decisions.

Cook County's property tax rates, averaging 1.8-2.3% of assessed value, among the highest in the nation, are the single largest variable in most North Shore retirement budgets. A home assessed at $900,000 in Northbrook, Glenview, or Wilmette can carry an annual tax obligation of $16,000-$22,000 that persists through retirement unless the home is sold or downsized. Illinois partially offsets this with one of the most retirement-friendly income tax structures in the country: Social Security, IRA distributions, and pension income are entirely exempt from state income tax, leaving the property tax burden as the primary financial challenge to plan around. For Northfield retirees specifically, this means treating property taxes as a non-negotiable fixed expense and building a guaranteed income floor, typically from Social Security and, where appropriate, an annuity, that covers them regardless of market conditions.

Northfield's longtime homeowners who downsize into retirement often face a significant capital gains question: after excluding up to $500,000 of gain on a primary residence ($250,000 for single filers), the remaining gain on a home purchased for $200,000 in 1990 and worth $700,000 today is still taxable. We plan for this event well in advance, timing the home sale to align with years when other income is lowest, and evaluating charitable giving strategies that can absorb some of the gain.