PRESIDENT

Phone: 336.668.4338
Fax: 336.217.8105
[email protected]

Attorney and Financial Coach

You know how everyone worries about money, no matter how much they have? How much is enough? What if something bad happens? As a financial advisor and estate planning and elder law attorney, Philip designs and aligns clients’ legal and financial plans so they don’t outlive their money, even if their health declines later in life. In other words, he uses his legal and financial knowledge, and strategic planning ability, to help good family stewards finish well. Philip is a CERTIFIED FINANCIAL PLANNER^® professional and has served in the American Academy of Estate Planning Attorneys (Board of Governors), the National Academy of Elder Law Attorneys (State President), and been recognized by the Supreme Court of South Carolina for his service to its citizens, bench, and bar (he’s also licensed in North Carolina). Philip is husband to Laurie, father to Anna and Alex, and enjoys philosophy and religion. Since 2002, as an attorney and financial advisor, he’s helped more than 1500 families enjoy peace of mind, and protected over $750 million dollars from probate, taxes, and nursing homes. Philip joined Strategic Planning Corporation in 2013 as an investment advisor representative.

 

Philip J. Corson – About Me

If you’re like most people, you never stop worrying about money.

In fact, just a few years after COVID-19 was declared a global pandemic, fears about money, inflation, and war have pushed stress to alarming levels (see Stress in America™ survey conducted in March 2022 for the American Psychological Association). Americans today worry more about money than their health and relationships… and it shows.

It’s easy to neglect yourself and your loved ones when you’re worried about money.

I get it. You’ve worked hard, paid taxes (probably more than your fair share), raised a family, and no doubt scrimped and saved along the way. Outliving your money or being taxed to death is not how your story should end.

The good news is, your story’s not over – yet.

The bad news is, as an attorney, I can only do so much. I know you want your family to feel loved, secure, and proud of you when you’re gone. Unfortunately, even the best estate plan in the world won’t help if there’s nothing left to protect.

But… what if I was your financial advisor first (regardless of whether I’m your attorney)?

I’m not sure I’m right for you, but I hope you’ll be open-minded to what I have to say.

While I’ve technically been a financial advisor since 2002, I rarely gave financial advice because my referral sources were insurance agents, CPAs, and financial advisors. I recall feeling powerless as the Dotcom Bubble burst and I saw clients lose millions that year.

Then came the Great Recession of 2008-2009, when I lost nearly half of my retirement savings. That’s when I learned stock picking, market timing, and track record investing don’t work, and I decided to become more involved in clients’ financial lives – and my own.

Admittedly, it was a slow process. I vetted countless financial service companies until 2013 when I met Mike Flanders and joined him as an investment advisor representative at Strategic Planning Corporation.

Over the past decade, Mike has encouraged – and often prodded – me to play a more active role in clients’ financial lives. While I’m confident he’s correct, I’ve been cautious in offering financial services (Mike might say “reluctant”). Why? Because I was afraid you might think less of me as an attorney… that perhaps I was more interested in your money than taking care of your family.

Rest assured, taking care of families is still what I do. It’s just a whole lot easier when clients don’t make foolish financial decisions, squander family resources, outlive their money, become a burden, or leave a big tax mess behind.

It’s better to deal with financial issues now, while there’s still time to correct and avoid mistakes.

Think about it. If your legal and financial plans remain unaligned, how will you feel if…

• Your spouse dies, and you have to cut your spending in half?
• Your health declines, and you must move in with your daughter?
• Your kids inherit half a million dollars, then owe $185,000 in taxes?

On the other hand, what if we design a financial plan that includes a big family vacation next year (at your favorite destination, of course)? Just imagine. The weather and accommodations are perfect. Multiple generations gather around the dinner table each night. Laughing. Telling stories. Real quality time. You don’t turn on the financial news, or check account balances, all week. Surrounded by loved ones. Creating memories that’ll be treasured long after you’re gone.

I know what you’re thinking… that sounds great, but can I afford it? I understand. At this stage of life, you shouldn’t have to worry about running out of money!

Over the past 20 years, as an attorney and financial advisor, I’ve helped over 1500 families enjoy peace of mind, and protected more than $750 million dollars from probate, taxes, and nursing homes. But it wasn’t always that way…

When my dad died, our family discovered some shameful and embarrassing mistakes. Then my grandma developed Alzheimer’s and was forced to move in with us. Although my mom acted like everything was fine around me, I knew she constantly worried about money.

Many sleepless and prayer-filled nights later, she made it her purpose in life to become a good family steward, and vowed she’d never become a burden or leave a big mess behind for us.

Now, fast-forward 15 years to my first year in law school, when I get a call from my Uncle Hal. He just retired to Florida and called to say, “I’m surrounded by old people.” More importantly, he discovered elder law (quite new then). He thought it might be the answer to my mom’s prayers… and with 10,000 Baby Boomers turning 65 every day, a good career for me.

So, I studied tax, estate planning, and elder law in law school. What I learned was shocking!

If you’ve ever thought politicians make the law complicated on purpose, you’re probably right. One of the biggest secrets the government keeps hidden from the public (albeit in “plain sight” in the tax code) are certain ways you can create tax-free retirement income.

Sadly, most retirement accounts are low-hanging fruit, just waiting to be picked by Uncle Sam.

Now, I’m not saying don’t pay your taxes. I’m saying don’t pay extra. As Judge Learned Hand said, “there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible” Commissioner v. Newman, 159 F.2d 848, 850 (2d Cir. 1947), “there is not even a patriotic duty to increase one’s taxes,” Gregory v. Helvering, 69 F.2d 809, 810 (2d Cir. 1934).

Though my mom hated paying more taxes than necessary when my dad died, her big fear was becoming a burden later in life. Which, thankfully, she didn’t. Of course, she wasn’t too proud to ask for help, and she knew a Certified Financial Planner^® professional 😊!

Seeing her at the end of life: matriarch of our family; good and faithful servant; role model; and, inspiration to four generations. It’s hard to picture her as a young widow with no real financial plan; worried about making foolish decisions; no way to pay for care if her health declined; no peace of mind; and, afraid of outliving her money. She made us all proud and will be remembered well.

Congratulations! If you’re still reading this and it resonates with you, we could be a good fit. On the other hand, if you don’t care about being a good family steward or finishing well, we probably aren’t. And that’s okay, I don’t believe God makes mistakes or does things accidentally.

If you’re interested, our process is simple. First, you complete a quick and easy risk profile. Second, we implement a plan based on your results. Third, you stop worrying about money and enjoy life (e.g. spending time revitalizing your health and relationships).

Geriatric Case Manager

He owns a healthcare advocacy company that finds and implements resources for older adults. In addition, Scott serves as power of attorney for the elderly who need a responsible party to manage their health and financial needs.

Scott’s previous worked as a nursing home administrator, senior living complaint investigator, court appointed guardian and a lobbyist for AARP.

He has his masters in health care administration.

His downtime is spent with his wife, 3 small boys and 1 medium size dog.

Attorney

John H. Kornegay was born in Greensboro, NC in 1954, and graduated from the University of South Carolina (B.A. Philosophy 1977) and the Wake Forest University School of Law (J.D. 1980). John’s legal practice is focused around estate planning, probate and fiduciary law. Many people believe that estate planning is only for people who are particularly wealthy, have elaborate schemes in mind for passing their money to their heirs, or for people who are acutely ill and contemplating their death. This could not be farther from the truth.

Estate planning is for every husband, wife, mother, father, grandparent, business owner, professional, or anyone else who has someone they care about, are concerned about providing responsibly for their own well-being and for the well-being of those they love, and for anyone who seeks to make a difference in the lives of others after they’re gone. Estate planning is not ‘death planning’; it’s ‘life planning’, and an essential and rewarding process for individuals and families who engage in it.

When done properly, estate planning requires that a highly trained individual lead you through one or more in-depth meetings to uncover your hopes, fears, and expectations for yourself and for those who are most important to you. This process almost always requires the preparation of several sophisticated legal documents, but those documents themselves are not ‘estate planning.’ Planning is a process, represented by a complete strategy that is properly documented and maintained by a professional who has taken the time to get to know you, and who is committed to continuing to serve you.

John has been a member of the North Carolina Bar since 1980. He is also a nice guy with children, so please hire him so they can stay full. You will have a very enjoyable experience working with John as he makes difficult concepts easy to understand and you will find a friend for life who will assist you and your family with many issues along the way.

Health Insurance Specialist

As Vice President of the financial services division of Colonial Insurance Services, Clive has been helping his customers with their life and health insurance needs for over 23 years. He started in the industry as a small group medical underwriter with New York Life. After three years there, he realized he had a passion to help people with their insurance needs.

Clive received his Bachelor’s Degree in Business Administration and Marketing from Belmont Abbey College. He is licensed in several states throughout the Southeast in life and health, long term care and Medicare Supplement. He has been a member of the National Association of Health Underwriters (NAHU) for over 15 years and has earned his Registered Health Underwriter (RHU®) designation. He is also certified to sell on the Federally Facilitated Marketplace exchange.

Clive has served on several Boards including Vice President of the Midland Business Association and President of his Homeowners Association. He is married to his beautiful wife and has two daughters and three grandchildren. He loves spending time with his grandchildren and watching his youngest daughter play softball. He has always been a fan of the game of soccer. He played varsity soccer in college, coached travel soccer for 15 years, and now loves to cheer on Manchester United. Clive is also an avid camper and loves to head to the mountains in winter for a little skiing.

Property and Casualty Insurance

Todd is a life long resident of Union County, North Carolina and director of personal lines of insurance for Colonial Insurance Company. He also is the president of a premium finance company and a boutique retail shop in Monroe, NC. Todd graduated from the University of North Carolina at Chapel Hill in 2000 with a B.A. in Management & Society (Industrial Relations). Without a doubt, he knew that Union County was where he wanted to raise his family, start his business, and retire one day.

Todd married his high school sweetheart, Amanda, in 2003, and they have since been blessed with two boys, Tanner and Miles. They are members of Lakeview Baptist Church. He enjoys spending time with his family, shagging, golfing, flying and playing racquetball.