Securing your legacy

We know that you’ve worked hard to become successful and that it’s important to preserve the wealth you’ve worked so diligently to create. Understanding what’s important to you is central to designing your Wealth Plan and allows us to customize strategies to fit your chosen lifestyle and help transition your wealth or your business to your heirs.

When you partner with Baillie Wealth Management, you will have access to specialists from Richardson Wealth’s Wealth and Estate Planning team of in-house lawyers, accountants, insurance professionals, tax experts, and estate planners to address your unique needs that arise as your life unfolds.

Depending on your specific needs, your customized Wealth Plan may include some or all of the following components:

Tax and financial planning strategies

Use of net worth and cash flow projections, income splitting opportunities and tax planning vehicles, cross-border tax issues, tax loss selling, capital gains exemption/deferral; professional incorporation; principal residence exemption.

Retirement planning

Financial projections, comparing pension alternatives, identifying capital requirements to retire early, timing of pension receipts, CPP and OAS planning, issues for ‘snowbirds’, retirement residence planning.

We are experts in helping you transition into retirement with ease. Often entrepreneurs and professionals do not have a clear idea of what their retirement will look like and are anxious about no longer working. We will explore the issues involved in your retirement to help you confirm when your diligence has paid off and you’re ready to retire.

Income planning

Planning for income requirements is especially important when you don’t have an employment pension in place, as is the case for many professionals. We can explore other options such as Individual Pension Plans, Registered Compensation Arrangements or Annuities to see what might be the best alternative for you. For individuals with existing registered retirement plans, we will convert them to income plans.

Succession planning for businesses and property

Technical issues regarding business succession (estate freeze, sale of assets vs. shares, shareholder agreements), family governance structures, separating family/ownership/management.

Estate planning

Will planning, choosing an executor, planning for elder care, minimizing estate conflicts, use of trusts, tax minimization.

Insurance solutions

Risk management, estate preservation, tax-efficient alternative investments, living benefits, new business management; life, disability, long term care and critical illness insurance.

Philanthropy assistance

Private and public foundations and donor-advised funds, donating publicly-listed securities and stock options, donations upon death/gifts of life insurance.

 

Action plan

A final summary of the recommendations is presented to you. The summary includes an action plan that details the next steps for implementation.

 

Please contact us to learn how we can help protect and enhance what's most important to you.