Individuals with a high net worth need sophisticated expertise to help build a sustainable plan for the management of their funds. I have worked with many high net worth individuals and families to build wealth management plans that adhere to their personal goals and objectives – especially those goals that involve risk tolerance, meeting financial obligations and timing with life events.
Through the creation of an Investment Policy Statement, I will help you establish the guiding principles for the management of your funds. Your Investment Policy Statement is a written document that outlines the general rules for the management of your investment portfolio. It sets out the investment management goals and objectives and describes the investment strategies that are suitable to meet those objectives. Your own personal Investment Policy Statement will help you answer some of the following questions:
- Do my goals and aspirations align with my wealth management plan?
- How can I ensure I continue to live the lifestyle I currently enjoy?
- How do I measure my level of risk tolerance and use that to guide my wealth management strategy?
- What kinds of assets should I include in my portfolio?
- What percentage of each kind of asset should I maintain in my portfolio?
- How much control do I have over my portfolio?
- Who will be making decisions regarding my wealth management portfolio
- How frequently will my portfolio be reviewed?
- What timeline is appropriate for my wealth management plan?
The end of your relationship with your spouse or significant other will mean a change in some of your life goals. As your financial management mentor, I can help you understand the options that you have and the strategies that you can adopt in order to achieve an efficient separation. A divorce is a challenging time that can create great stress, frustration and pain. I genuinely want to help you make the right decisions to ensure you avoid the common pitfalls that so many individuals face.
I will help you understand the answers to the following questions:
- How do I make the transfer of investments to and from my former spouse?
- What happens to the beneficiaries of my RRSPs and Life Insurance?
- Do I need a new investment management portfolio?
- How will my cash flow be affected by my marriage breakdown?
- Will I need a new Will?
- What about the RESPs for the children’s education?
- We may have to sell our home, what are the implications?
- How will my government benefits such as OAS and CPP be affected?
- What will happen to my company pension?
For detailed information on divorce or an end of relationship, please contact me today.
Transitioning into retirement will mean a change in your lifestyle and perhaps some of your life goals. I am an experienced investment management mentor who can help guide you through the various options you have available. I will help you define your strategies and provide advice for balancing your priorities and making progress towards achieving your retirement dreams.
With my help, you will be able to confidently answer the following questions:
How will my investment management requirements change in retirement? What is the best way to structure my retirement plan income so I don’t lose age benefits and credits? How can my spouse and I minimize taxes in retirement? My spouse and I both have sources of income, which should we use first? Does my provincial health plan cover me when I spend time in the US? Should I be updating my will ? Should I be passing on assets to my family now or should I do it through my will? Should I consider a reverse mortgage? How can I reduce my financial risks due to health problems? How can I plan for unforeseen health care expenses? What do I need to consider if I travel outside the country? What options do I have if I want to change my lifestyle, activities or move to a new place of residence? For detailed information on retirement planning and transitioning, please contact me today.
Being disabled or having a family member that is disabled can create challenges if the right information and support is not at hand. I am an experienced financial management mentor who has worked with families with one or more disabled family members. I understand the special considerations that must be made and can explain how the Registered Disability Savings Plan (RDSP) is designed to enhance the long-term financial security for your family and the individual(s) with disabilities. My goal is to give you and your family members the “peace of mind” needed to live life to the fullest.
FEATURES
Similar to other registered plan types, most investment management offerings are available in an RDSP. Anyone can make a contribution to an RDSP, provided that the contributor has written consent from the plan holder. CONTRIBUTIONS
Contributions are limited to a lifetime maximum of $200,000.00 per beneficiary with no annual limit. Contributions can be made until:
the year in which the beneficiary reaches the age of 59 the date on which plan contributions reach the lifetime maximum of $200,000.00 the beneficiary no longer qualifies for the Disability Tax Credit the beneficiary is no longer a resident of Canada for tax purposes Contributions to an RDSP are not tax-deductable. However, investment earnings that accrue within the plan grow on a tax-deferred basis. When earnings are withdrawn as part of a disability assistance payment, they are taxable in the hands of the beneficiary. Contributions to an RDSP may qualify for payments from the Canada Disability Savings Grant (CDSG) program – up to a lifetime maximum of $70,000 per beneficiary. Lower income families may qualify for payments from the Canada Disability Savings Grant (CDSG) program without having to make a contribution to an RDSP – up to a lifetime maximum of $20,000.
ELIGIBILITY FOR AN RDSP
Beneficiary: Any Canadian resident under the age of 60 and eligible for the federal Disability Tax Credit.
Account Holder: The legal parent or guardian of the beneficiary, or a public agency or organization can establish a plan. In cases where the beneficiary is of the age of majority, the beneficiary can also be named the account holder.
To learn more about financial management or the RDSP please contact me today.
Leaving a job, whether by choice or due to an involuntary lay-off or shut-down, may mean a change in your current and ongoing personal and financial management situation. It can also be a time of extreme uncertainty, low-self confidence and low self-esteem. As your financial management mentor, I will help you get back on your feet by outlining your options and giving you the advice needed to balance your priorities, goals and obligations.
With my help, you will be able to confidently answer the following questions and regain control:
Should I be seeking legal advice? What payments am I entitled to from my former employer and how can those payments be received? Am I entitled to receive Employment Insurance (EI)? What happens to my Group RRSP? What happens to my company pension? What happens to my group health and insurance benefits? What happens to my company stock options? Will I need to reconsider my investment management plan? For detailed information on quitting a job or leaving a job because of lay-offs, please contact me today.
Buying a home means some exciting new changes in your life and lifestyle. As your financial management mentor, I can help you navigate the process of acquiring your home and dealing with the financial changes that home ownership entails. Shopping for a new home is exciting but the processes invovled can be time consuming and confusing. My goal is to help you achieve your dreams with as little pain and frustration as possible.
With my help you will be able to answer the following questions:
- Should I seek legal advice before or after making my home purchase?
- Do I need a real estate agent and how would I find one?
- Where should I start looking for a home?
- How do I decide how much I can afford to spend?
- How should I finance my new home?
- What is the Home Buyers’ Plan?
- What are the tax implications of home ownership?
- How does home ownership affect my investment management plan?
- For detailed information on financial management mentorship and buying a home, please contact me today.
The birth of your child may mean a change in some of your life plans. As your financial management mentor, I can help you understand the options you have to ensure you and your new family remain secure. Further, I can help you plan for the future to ensure every opportunity is available to those you love. Parenthood is an amazing, albeit busy, time in life. I will ensure you balance your priorities and make progress towards achieving your financial management goals.
With my help, you will be able to answer the following questions:
- How do we balance paying down debt and saving while adjusting to new costs of having a baby?
- Should we buy a home now?
- How can I provide financial security for my dependents through insurance?
- How can I continue to maximize and top up my Registered Retirement Savings Plan contributions?
- Should I consider setting up a spousal RRSP to help with tax planning?
- How important is a Will and Power of Attorney now that we have a child?
- How do we save for our child’s education?
- How will having a child affect my taxes?
- How can we assist our parents if they need it now that we have our own family to care for?
For detailed information on financial management for childbirth and parenthood, please contact me today.
The illness of a parent will mean a change in your life creating a new financial picture with complexities and sensitivities that require the attention of an experienced financial management mentor. As an experienced financial management mentor, I can help you understand the issues at stake and how they can be resolved to ensure that the right decisions are made with as much consideration as possible for your entire family.
The following are some of the questions that I can help you answer during this sensitive time:
- What are the implications if my parent is unable to make their own decisions?
- Who will be in control of my senior family member’s finances?
- How can I plan for upcoming health care costs?
- What are the sources of funding available to ease the financial burden?
- What are the implications for my parent’s estate plans?
- Should my senior family member’s will be reviewed and revised?
- What sort of living arrangements are available if my parent needs in-home assistance or needs to consider out-of-home care?
- How can I evaluate the sort of care that is available and decide which is appropriate?
- Is there tax relief available if my senior family member is incapacitated?
For detailed information on supporting an ailing parent or senior family member, please contact me today.
The death of your spouse or a loved one can causes dramatic changes in your life and goals. As an experienced financial management mentor and someone who has been through personal loss, I can help you gain balance and set priorities to help ease your burden as you make your adjustments. Making progress towards achieving your goals is still possible.
With me at your side, you be able to review your priorities and address some of these common challenges:
- How do I transfer my spouse’s investment assets into my name and what documents will I need?
- Will I need to create a new investment management portfolio?
- Do I need a new Will?
- How will my estate plans change?
- Should I consider transferring assets to my family now?
- How will my budget change?
- I may decide to sell my home, what are the implications?
- Will I need new or different insurance coverage?
- What is involved in being an Executor?
- What do I need to report to the government?
- What changes do I need to make to my tax return(s)?
- Are there any government benefits that can support me?
For detailed information on the the death of a spouse or loved one, please contact me today.