As a fiduciary financial advisor in Williamsburg, Holland Capital helps retired couples who have moved here from Northern Virginia sort out what the move changes in their plan and what stays as it was. Williamsburg couples work with us by video and phone, and in-person meetings take place by appointment at the Regus center at City Center in Newport News.
A new address. The same Virginia tax rules. A budget built for the old house.
Williamsburg itself has about 15,900 residents, and much of the area lives in surrounding James City County, where about 29% of residents are 65 or older. William & Mary and Colonial Williamsburg are major local institutions.
The state tax rules stay the same. What changes is everything around them: the home’s value and upkeep, local costs and how far you are from family. A fixed-fee written plan resets the numbers for life here, and you can carry it out with the advisor and accounts you already have. With any advisor, it is fair to ask whether they act as a fiduciary and how they are compensated.
What Stays the Same
Virginia still does not tax Social Security, and the age deduction for qualifying taxpayers age 65 and older is income-tested.
Your account ownership and beneficiary designations do not change automatically because you moved. A move is still a sensible time to review them, as our page on estate and wealth transfer planning explains.
What the Move Can Change
If you sold a home up north, the plan decides what that cash is for. Spending shifts too, with some costs falling and others new. Our guide to retirement income for couples covers drawing down two sets of accounts together.
RETIREMENT ENGINEERING™
The Order Matters
Five retirement decisions and why timing matters.
Withdrawals and Required Distributions
We plan which accounts pay first each year, whether Roth conversions might fit and how future required minimum distributions could affect taxable income. Our required minimum distributions guide explains them.
Investment Management as an Option
If you would rather have us manage the portfolio, investment management is a separate decision, with a written investment policy statement to guide it.
How We Work with Clients in Williamsburg
Holland Capital Management is an independent registered investment adviser and a fiduciary. M. Chad Holland, CFA, CFP® works directly with clients and is responsible for the planning and advice.
Bring your latest tax return, statements for every investment and retirement account, closing papers from any home sale or purchase, and your new household budget.
You receive a written plan for life in Williamsburg, at a fixed fee settled before the work begins. Use it yourselves, with the advisor you had up north or with us.
The first conversation is free. If there is work worth doing after that, we will define the scope and cost before you decide whether to move forward.
Our offices are in Charlotte, North Carolina and Winter Park, Florida. We work with clients in Williamsburg primarily by video or phone. When an in-person meeting makes sense, we meet by appointment at the Regus center at One City Center, 11815 Fountain Way, Suite 300, in Newport News.
We work with clients throughout Virginia. You can see the other Virginia communities we serve here.
Our what we do page explains how a planning engagement works.
RETIREMENT ENGINEERING™
The Order Matters
Five retirement decisions and why timing matters.
Frequently Asked Questions
Do Our Virginia Taxes Change After Moving to Williamsburg?
The state income tax rules are the same across Virginia. What may change is your income, your spending and local costs, so we update the plan for those.
Why Have a Fiduciary Financial Advisor Review a Plan After a Move?
Holland Capital acts as a fiduciary when providing financial planning and investment advice. After a move, that means we may suggest keeping your accounts and advisor as they are when that suits you.
Our fee for the plan is fixed and set in advance; managing investments would be a separate arrangement and fee, disclosed before you choose.
Where Do Williamsburg Couples Meet with Us?
We meet by appointment at One City Center, 11815 Fountain Way, Suite 300, in neighboring Newport News. Most of our work together takes place by video or phone.
Photo: Smash the Iron Cage / Wikimedia Commons / CC BY-SA 4.0, cropped.
