Working Together

Many people will offer you advice on which investments to buy. But there's more to your financial life than your RRSP.

Personal financial advising focuses on you as an individual - bringing together all the financial and psychological factors that have an impact on your life.

A well-designed financial strategy will help you reach your personal financial goals and objectives, and give you a greater sense of security.

Estate planning is not just planning for death; it is also essential to ensure that your affairs are handled in accordance with your wishes while you are alive. Should you become mentally or physically incapacitated and unable to manage your own affairs, tools such as a power of attorney become important life planning tools.

The goal of estate planning is to arrange your financial affairs in a way so that your assets can be passed to your heirs as quickly and as completely as possible.

The good news for Canadians is that no estate tax is owed when an estate is transferred to your heirs after you die. The bad news, however, is that depending on the type of assets in an estate there may be deemed disposition tax that could seriously disrupt the financial lives of your surviving family.

Properly planned estates have assets arranged and titled in such a way as to minimize any taxes payable.

An insurance analysis is the only way to properly assess your financial situation to determine how much, if any, of the risk you are able to assume, and how much of it should be transferred to an insurance company.

A loss of income due to a premature death, disability or critical illness will usually require a significant amount of capital in order to replace it.

An insurance analysis will quantify the capital need and then calculate the gap between personal resources and the potential need.

Only in this way can you be assured that you are purchasing the right amount of coverage.