Category: Financial Planning & Wealth Management

How to Financially Prepare for Divorce

Posted on by Edixon

Jane is divorced. Going through divorce was a difficult time, not just for her but for her entire family. The emotions were draining, but the financial strain made it even worse.

As Jane prepared for divorce, there were so many decisions to be made quickly. She knew she had to be proactive to protect her financial well-being.

Jane first needed to understand her financial situation before entering the divorce process. She started by compiling her financial records – tax returns, loan documents, retirement accounts, bank statements, and investment statements. Then, with her accountant’s help, Jane was able to fully understand where she stood financially.

Jane also pulled her credit report to ensure she knew all her accounts and liabilities. She made a comprehensive list of all her assets that could be divided during the divorce, including their marital home, investments, pensions, personal property, and more.

Next, Jane opened new personal bank accounts and closed her joint accounts with her soon-to-be ex-husband. She updated all her direct deposits to her new account and started paying her bills using those accounts. Importantly, to avoid being responsible for any debt her husband may accrue post-divorce, she also paid off and cancelled any joint credit cards.

Jane wanted to ensure her wishes were honoured in the event of her death – and that her former husband wouldn’t have access to her private information. She updated her Will and Power of Attorney, designating new beneficiaries on her investment accounts and insurance policies.

Jane also changed her mailing address to keep her mail private during the divorce proceedings. She wanted to ensure that any correspondence from her lawyer or information about her finances wouldn’t fall into the wrong hands.

Finally, Jane wanted to avoid losing assets or handing over more than she had planned. To do this, she refrained from making significant financial decisions until the divorce was finalized. Instead, she worked with legal and financial professionals to make sure her best interests were protected throughout the process.

Jane had to figure out her new income post-divorce and set a budget. She needed to get her life back on track. With her financial planner, she determined all her monthly inflows, debt payments, and fixed expenses and allocated her discretionary spending accordingly. Together, Jane and her financial planner started a new financial plan and set new, achievable goals. She also reviewed her investments with her portfolio manager to make sure they aligned with her new financial goals and comfort level.

Today, with the help of the right professionals, including her accountant, financial planner, and portfolio manager, Jane can finally start fresh post-divorce and have financial peace of mind.

Are you at the start, or in the middle of a divorce? Remember these steps.
  • Compile your financial records and assess your personal assets.
  • Open new bank accounts and credit cards.
  • Close joint accounts and pay off/close joint credit cards.
  • Update your Will, Power of Attorney, and insurance policies, including beneficiaries.
  • Update your mailing address if you no longer live in the marital home.
  • Refrain from making significant financial decisions that may be included in the division of
    property.
Starting Fresh, Post-Divorce
Determine your new income and set a budget.

Post-divorce, your cash flows are likely to change drastically. So first, determine all your monthly inflows, debt payments and fixed expenses. From there, figure out how to allocate your discretionary spending.

Start your financial plan.

Your future looks different than the last time you did a financial plan. Work with your advisor to lay out new objectives and determine the next steps to get your financial life back on track.

Review your investments.

Your investment objectives may have changed since your divorce, or it may be your first time learning about investing. Talk to your portfolio manager and ensure your portfolio aligns with your objectives and comfort level.

Work with your accountant, financial planner, and portfolio manager to clearly understand your financial position and set you on the right path to financial well-being post-divorce.

Inheritance Planning

Posted on by Edixon

John and Mary have worked hard throughout their lives to build a successful business. Each of their three children have worked in the business in different capacities over the years, but they’ve followed their own interests, which have lead them away from the family business. John’s plan was always to keep the business in the family, passing it on to one of his children when they were ready. Mary, on the other hand, wasn’t as sure about John’s plan, as she had watched her oldest brother take over her father’s business, knowing that he was never really happy about it. Mary wanted her children to follow their own passions, wherever it took them. As a result, John and Mary are contemplating selling their business as they near retirement.  Realizing that it will leave them with a very healthy sum of money, they want to leave each of their children an inheritance – but don’t want to leave themselves short either. They are also fearful of creating trust fund babies, which they’ve heard disaster stories about.

What is the Purpose?

First and foremost John and Mary need to determine what the purpose of the inheritance will be. Is it to:

  • enhance their children’s lifestyle;
  • protect the assets from marital breakdown or litigation;
  • provide education funding for their grandchildren; or,
  • perhaps the intent is to create multi-generational family wealth?

They will have to decide if they want to gift some of the money now or maximize the inheritance to their heirs after their deaths. Whatever they decide, they will need to be clear about exactly what the purpose is to ensure their inheritance plan is properly structured.

Commit to a Plan

Secondly, they need to commit to a plan. Inheritance planning requires very careful strategizing, with specialized knowledge; which is why they need to build a team of professionals to work with to achieve their goals.

  • The Lawyer will draft the documents needed, such as Wills, Trusts, Powers of Attorney, etc.
  • The Accountant will ensure the plan is structured in the most tax-effective manner possible and with in-depth knowledge of their business, will ensure a smooth and effective transition of their business as they convert their lifelong working capital into cash.
  • A Certified Financial Planner will help John and Mary create a comprehensive financial plan to determine how much of the proceeds of the business will be necessary to fund their lifestyle during their retirement and how much can be immediately allocated to the inheritance plan.

Inheritance planning is not so rigid that it’s carved in stone but it can be costly in the future if it’s not structured well in the beginning.

Take a Disciplined Approach

Taking a disciplined approach will help John and Mary avoid the many nightmares that sometimes come with managing family wealth. We’ve all heard the stories of elder abuse as one child exerts undue influence on the parents, convincing them to pay their debts, buy them a car or provide money for a lifestyle they’ve not earned, all at the expense of the parents and other inheritors. Having a disciplined inheritance strategy in place can protect John and Mary’s wealth to ensure that it’s used for the purposes that they initially outlined in a fair and structured manner.

Practice Open and Honest Communication

The most important issue in inheritance planning is having open and honest communication between those who are passing the wealth on and those who are to receive it. In this case, John and Mary should involve their three children in the process so they understand the goals they have for their wealth, what they are committing to and how their wealth will be distributed. This open communication provides a platform for the children to ask questions and better understand their parents’ wishes to ensure that everyone is on the same page or at least knows what to expect. Having an open communication strategy can have a tremendous impact on maintaining family harmony and minimizing discourse between the inheritors.

Once John and Mary have created their inheritance plan and communicated their intentions to their children, they can get on with enjoying their freedom in retirement. They can spend their days enjoying the fruits of their many years of labour.  Instead of worrying if they are spending their children’s inheritance they can rest assured that they have a plan in place to achieve their retirement goals and pass on their wealth in a strategic and meaningful way.

Use of a Professional Corporation on Retirement

Posted on by Edixon

For professionals, the use of a Professional Corporation (PC) can provide key benefits in terms of income splitting and income tax deferral.  However, professionals often ask: “What happens to my PC when I retire?”

In some situations, the shares of the PC will be sold to another professional.  In other situations, the answer typically depends on the number of assets remaining in the professional corporation upon retirement.  If there are minimal assets (cash, investments, equipment, etc.), it is likely the PC can simply be dissolved by preparing Articles of Dissolution after obtaining consent from the relevant taxation authority.

Typically, however, the PC will have built up an investment portfolio to assist the professional in retirement.  In this case, there is likely a benefit of retaining the corporation so that the shareholders can draw out only the money they require each year, thus minimizing their annual tax burden by utilizing their marginal tax rates (as opposed to withdrawing everything from the corporation in a lump sum upon retirement and paying tax at higher rates).  For example, withdrawing $250,000 from a professional corporation as a lump sum non-eligible dividend would result in a tax burden of approximately $81,000.  Alternatively, withdrawing the funds in five annual non-eligible dividends of $50,000 would reduce the overall income tax burden to approximately $17,000 (both cases assume no other income or deductions and are based on 2022 income tax rates).

If the PC is to be retained, the first step is to re-characterize the corporation from a PC to a regular corporation.  This often involves deregistering from the appropriate governing body and then filing an Articles of Amendment form to remove reference to the professional corporation in the name of the PC and possibly any restrictions that were in the Articles of Incorporation.  Most PC’s choose to continue operating as a simple numbered company.

The income that the corporation will earn at this point will likely be passive investment income (such as return on investments).  Passive income, unlike business income, is taxed at a high corporate income tax rate (currently 50.17%).  A portion of this income tax is recoverable upon drawing money from the corporation as a dividend, resulting in a net corporate tax rate of 19.5% on passive income in Ontario.

The PC may be able to introduce other shareholders once the current value is “frozen” into the current shareholders’ hands.  While this scenario has to be carefully reviewed to avoid any attribution rules, this allows the potential for the investment earnings to be allocated to certain families members, thus utilizing their marginal income tax rates as well.  This strategy could involve using a family trust so that the professional can still have control over who receives both the income and capital that accumulates on the investments.  As each case is different, it is important that a strategy to include other shareholders, including a family trust, is looked at closely as attribution rules could cause negative tax consequences if not considered in advance.

A PC may, in certain circumstances, pay a $10,000 death benefit to the deceased professional’s estate.  The death benefit would not be taxable to the estate.

The transition from a PC to a regular corporation is a relatively simple process, but planning in advance will help layout the direction of the PC so that it can provide benefits, both now, and in the future. We can help guide you in the right direction, contact one of our experienced Healthcare Industry Professionals.

EXECUTOR: Whether to Accept This Role

Posted on by Edixon

Individuals may be asked to take on various roles in respect of loved ones, friends, clients, or others. One role that is particularly riddled with challenges is that of an estate executor. While an individual may carry out their duties in an appropriate manner, it is important to consider the risks of unhappy beneficiaries and any other undesirable outcomes, including litigation and/or strained relationships.

A March 4, 2022, Tax Court of Canada case reviewed whether the taxpayer was personally liable for the estate’s tax debts. On the death of the taxpayer’s father in 1994, the taxpayer and his brother became executors of the estate. The taxpayer argued that he renounced his role of executor two months after the death of his father, and therefore should not be held liable for the estate’s tax debts.

The father left most of his estate to the taxpayer’s brother, as well as a portion to grandchildren and great-grandchildren. The taxpayer accepted this decision but wanted to ensure that his daughter received her share of the estate. To this effect, in 2010, the taxpayer and his brother took steps to distribute a balance of $240,000 payable to the taxpayer’s daughter, secured by a mortgage against one of the estate’s properties. That is, the taxpayer’s daughter was essentially provided a $240,000 receivable from the estate. No clearance certificate was obtained, and the estate was in arrears with its taxes. In 2016, the brother died.

While the taxpayer argued that he renounced his role as executor and provided an alleged handwritten note from 1994 to that effect, the Court did not accept that he formally renounced his role. While the Court acknowledged that the taxpayer may not have understood everything about being an executor or every aspect of a land transfer, the Court believed he understood that he was signing as an executor. As he was the executor when the mortgage was secured and did not obtain a clearance certificate, he was held personally liable for the estate’s tax debts.

The Court further stated that even if it did find that the taxpayer had properly renounced his role, the taxpayer acted as a “trustee de son tort” (a person who is not appointed as a trustee but whose course of conduct suggests that he be treated as one), and for income tax purposes, he would have been considered a “legal representative.”

ACTION ITEM: Acting as an executor comes with significant responsibilities. Failure to properly administer the estate can result in personal liability. If you choose to decline the role, you must do so properly and not act as an executor

Saving For Your First Home

Posted on by Edixon

Saving for a first home can be a significant challenge for many, especially when the price of the average home in Canada is nearly $630,000. The minimum down payment to qualify for a mortgage is 5% of the purchase price if the purchase price is $500,000 or less and 10% for any amount over $500,000. That means if you purchased an average home in Canada, you would need a down-payment of at least $38,000, however if you were making a down-payment of less than 20% of the purchase price, you would have to pay an insurance payment of $23,680 to the Canadian Housing & Mortgage Corporation. This insurance protects the lending institution in the event that you default on your mortgage in the future.

There are several programs outlined below which are designed to assist first-time homebuyers with saving for their new homes. In addition to the savings programs listed below, there are many tax incentives available for first-time homebuyers. These tax incentives are beyond the scope of this article and should be discussed with your trusted Accountant for more information.

RRSP First-Time Home Buyer Plan (HBP)

  • Maximum $35K tax-free withdrawal from RRSP ($70k/couple)
  • Repayment over 15 years
    1. The repayment period starts the second year after the year when you first withdrew funds from your RRSP(s) for the HBP. For example, if you withdrew funds in 2022, your first year of repayment will be 2024
    2. Each year, the Canada Revenue Agency (CRA) will send you a Home Buyers’ Plan (HBP) statement of account, with your notice of assessment or notice of reassessment
      • The statement will include:
        • The amount you have repaid so far (including any additional payments and amounts you included on your income tax and benefit return because they were not repaid)
        • Your remaining HBP balance
        • The amount you have to contribute to your RRSP(s), PRPP or SPP and designate as a repayment for the following year
        • If you repay less than the required amount owing for the year, any remaining balance owing will be added to your income and taxed as RRSP income
        • Any amounts repaid in excess of the minimum, reduce future annual minimum repayments
  • Contributions to RRSP are tax-deductible and based on your annual maximum contribution room shown on your Notice of Assessment
  • Contributions made in the 89-day period prior to the RRSP home buyers withdrawal are subject to deduction limitations
  • Cannot be used in conjunction with the First Home Savings Account (FHSA)

Tax-Free Savings Account (TFSA)

  • Started in 2009 and is available for anyone 18 or older
    • The annual TFSA contribution limits for the years:
      • 2009 to 2012 was $5,000
      • 2013 and 2014 were $5,500
      • 2015 was $10,000
      • 2016 to 2018 was $5,500
      • 2019 to 2022 is $6,000
  • The unused contribution room is carried forward and can be used in any future year
  • Contributions are not tax-deductible
  • No tax on the growth
  • Withdrawals are tax-free
  • No repayment required
  • Any amount withdrawn is added back to your contribution room in the following year

The First-Time Home Buyer Incentive

The First-Time Home Buyer Incentive is a shared-equity mortgage with the Government of Canada, which offers:

  1. 5% or 10% for a first-time buyer’s purchase of a newly constructed home
  2. 5% for a first-time buyer’s purchase of a resale (existing) home
  3. 5% for a first-time buyer’s purchase of a new or resale mobile/manufactured home
  • The shared equity component of the incentive means that the government shares in both the upside and downside of the property value, up to a maximum gain or loss equal to 8% per annum (not compounded) on the Incentive amount from the date of advance to the time of repayment
  • The homebuyer will have to repay the Incentive based on the market value of the home at the time of repayment equal to the percentage (for example, 5% or 10%) of the original home value used to determine the Incentive, up to a maximum repayment amount equal to:
    • where the home’s value has appreciated, the Incentive plus a maximum gain of 8% per annum (not compounded) on the Incentive amount from the date of advance to the time of repayment; or
    • where the home’s value has depreciated, the Incentive minus a maximum loss of 8% per annum (not compounded) on the Incentive amount from the date of advance to the time of repayment
  • The homebuyer must repay the Incentive after 25 years, or when the property is sold, whichever comes first. The homebuyer can also repay the Incentive in full any time before, without a pre-payment penalty.

Tax-Free First Home Savings Account (FHSA) – Coming in 2023

  • Maximum annual tax-deductible contributions $8K
  • Maximum lifetime contributions $40K
  • Tax-Free withdrawal for qualified first-time home buyer, which is considered to be a person who has not owned a home in which they lived during the current calendar year or the previous four calendar years; an exception to this is made for anyone making a withdrawal within 30 days of moving into their first-time home
  • Once the account is open it must be used to purchase a home within 15 years or before the end of the year that the individual turns age 71. If not used to purchase a qualifying first-time home during these periods, it can no longer be used for this purpose and must be either transferred tax-free to a Registered Retirement Savings Plan or Registered Retirement Income Fund or withdrawn and fully taxed as income
  • After an FHSA is open any unused contribution limit can be carried forward and used in any subsequent year
  • Contributions can be deducted against income in the year they are made or carried forward and deducted in any future year
  • Cannot be used in conjunction with the Home-Buyers Plan

Crisis Proofing Your Business

Posted on by Edixon

The events over the past two and a half years have taught us many lessons in life and business. Whether preparing to expect the unexpected, adapting to rapidly changing laws and regulations, or feeling a direct impact on sales and profitability, these events caught many by surprise.

While no one could have fully prepared for the pandemic’s extent and impact, those who had planned for some form of disruption undoubtedly fared better than those without such planning. Every business, including yours, is unique and should have a plan in the event of a disaster or other business interruptions. This plan should include things like information technology requirements, human resources issues, client relationships, cash flow management, business continuity/ succession planning, contingency planning, and more.

Developing a plan to mitigate these potential risks in the event of unforeseen circumstances should be considered by all business owners specific to the needs of their business. Still, there are a few common risks that all company owners face. For example, even successful business owners don’t always have fail-safes in place to protect their business if a key stakeholder dies, becomes disabled, or retires. Without adequate planning, many businesses do not survive these events.

Let’s look at two businesses to see how their situation impacted them.

Business 1 – SARA’S VETERINARY CLINIC

Sara is a veterinary school graduate and has worked at a veterinary clinic for the past few years. The owner, who was retiring, offered Sara the opportunity to purchase the practice. Sara took the plunge, and the dream of owning her practice was now a reality.

Sara was excited but also worried since she had never been in this much debt. After all, she still owed her parents for student debt and was now responsible for a substantial business loan. With new responsibilities as a business owner, she didn’t have much time to think about the financial burden.

Soon after, Sara began having health issues and was eventually diagnosed with Multiple Sclerosis. She was devastated by the news but determined to work through it. Over time, Sara’s health suffered, as did her practice. Key employees quit due to uncertainty, some clients left, and as a result, revenues fell. Unfortunately, by the time Sara realized the stress of running her business was too much, the damage had already been done. With no contingency plan in place and only limited income available through her association plan, Sara had to sell her practice for less than she paid. As a result, she had to deal with a serious illness, significant debt to the bank and her parents, and little means to pay it off. These events shattered her dreams.

How her story could have been different

Suppose Sara had a contingency plan to replace her income and cover her business expenses; she could have taken time off work to deal with her illness and looked for a purchaser while her business was still healthy, stable, and profitable.

Things Sara should have thought about

  • What happens if I, or a key employee become disabled or seriously injured and can no longer work?
  • What happens if a key employee or I pass away?

Key takeaways from this story

Consult with your dedicated professionals about implementing a disability and life insurance strategy (buy-sell agreements, key employees).

Business owners have several insurance strategies to help financially protect the business should a key employee, or themselves, suffer a severe injury, illness, or pass away.

Business 2 – Daniel’s Family Construction Business

Daniel joined the successful family construction business with his dad and uncle John. Daniel worked hard, anticipating that one day he would take over his dad’s share of the business when he was ready to retire.

Suddenly, John died from a heart attack. With no shareholder agreement in place and no buy/sell agreement, his uncle’s share of the business passed to Daniel’s aunt, with whom Daniel had a great relationship. Although a kind and generous woman, Daniel’s aunt had little business experience but wanted to honour her husband’s legacy and give her teenage children the opportunity to take over their dad’s share of the business when they got older.

While Daniel and his father had focused on the construction side of the business, his uncle had been responsible for sales, which began dwindling immediately after his passing. They tried to hire salespeople but couldn’t find someone with the same experience, knowledge, and commitment. Sales continued to lag while the business declined until the doors were closed a few years later. The family was splintered, each blaming the other for the failure.

How their story could have been different

Alternatively, if Daniel’s father and uncle had a funded shareholders’ agreement or a funded buy/sell agreement, Daniel’s aunt would have been compelled to sell her husband’s share of the business to Daniel’s father, who would have had to purchase the shares for the agreed value. As a result, with a succession plan, the construction business and the two families would have had the opportunity to survive and thrive after this devasting event.

Things Daniel’s father and Uncle should have thought about

  • Who will be responsible for taking over if one of us suddenly becomes ill or dies?
  • What happens to the shares of the business?

Key takeaways from this story

Consult with your dedicated professionals about estate planning for business continuity, including Shareholders’ (buy-sell) Agreements, Wills, and Powers of Attorney.

Help maintain family harmony and increase the chances of a successful succession to the next generation by guiding ownership, decision-making, conflict resolution, and, importantly, the distribution of money within the family.

So what’s the lesson here?

Don’t leave the survival of your business to chance. Working with a team of dedicated professionals, such as your Accountant, Lawyer, and Certified Financial Planner, you can be sure that you’ll have the fail-safes in place to protect your financial future and the ongoing success of your business, should disaster strike.

RESP Withdrawal Options

Posted on by Edixon

So, you’ve saved for your child’s education within a Registered Education Savings Plan (RESP), hoping that they will pursue post-secondary education one day.

Congratulations! They are enrolled!

For all these years, your contributions, grants, and growth have been tax-sheltered. So now you’re wondering how best to get the money out of the plan and how it works. Within the RESP plan, there are the subscriber’s contributions, grants, and possibly bonds received, and earnings on the investments.

Withdrawals of the original contributions are referred to as Post-Secondary Education (PSE) withdrawals and are not taxable.

The Canada Education Savings Grant and Canada Learning Bond (CESG, CLB), if applicable, and earnings on the investments are taxable to the student, referred to as Educational Assistance Payments (EAP). You want to withdraw all EAP dollars while your child is in school so that those funds are taxed in their hands, not yours. Before making any withdrawals, it is important to find out the available EAP amounts for tax planning from your RESP provider.

For the 1st 13 weeks of a program, there is a maximum EAP withdrawal of $5,000 for full-time and $2,500 for part-time programs.

After the initial 13 weeks, there is no limit. Even if the funds are not needed upon your child beginning their program you may consider withdrawing some to take advantage of the basic exemption amount of $14,398 for tax year 2022. That means the student can withdraw those funds tax-free up to that amount if they have no other income. If they are working part-time, make sure to factor that in. EAP amounts can be taken for up to six months after the program ends.

The name of the game is to ensure the plan is completely drawn down by the time your child finishes school.

If money is left in the plan after they finish their studies, or if they didn’t pursue post-secondary education, you can collapse the RESP and withdraw your original contributions without any tax. If there is still grant or bond money left, it’s headed back to the government. All earnings in the plan are taxable to you, the subscriber, plus a 20% penalty tax. If you have not reached your RRSP contribution limit, you can transfer up to $50,000 of the growth to your RRSP and avoid the penalty tax. The RESP must be in existence for 10+ years, with all beneficiaries being at least 21 years old and not enrolled in a postsecondary education program. CESG and CLB are still repaid to the government.

You may be able to transfer the funds to a sibling under 21, or in the case of a family plan, have another beneficiary use the proceeds. CESG exceeding $7,200 per beneficiary must be repaid. 

An RESP can remain in place for up to 36 years from when the plan was opened. If your child’s circumstances change in a few years, they may still be able to use those funds as intended and taxed to them. It can also give you time to accumulate RRSP contribution room if it appears you might need to wind up the plan.

There are many ways to structure the withdrawals and different aspects to each, so please get in touch with one of our CERTIFIED FINANCIAL PLANNER™ professionals, so that we can help you plan the appropriate withdrawal strategy.

 

Handy Resource: Canada Revenue Agency – Registered Education Savings Plans (RESP) Guide

Special Needs Planning

Posted on by Edixon

Recall your last vacation? How much time did you spend planning where you were going, how were you going to get there, and what activities you would enjoy once you arrived? Sadly, most people spend more time vacation planning than they do financial planning.

A financial plan is the roadmap for your future and the strategy for your family’s security. It is important for every adult, but it’s particularly important if you have dependants, and even more so if one or more of those dependants are disabled. When you are planning for a disabled dependant, you need to factor in the additional needs and time the financial resources must last for a disabled dependant, along with the healthcare needs and associated costs, managing support needs, dealing with government agencies, and a myriad of other concerns.

Most financial plans will recommend using Registered Retirement Savings Plans, Tax-Free Savings Accounts, Insurance, and Wills along with Powers of Attorney to help achieve goals and protect
lifestyle.

However, those requiring Special Needs Planning will likely benefit from having a Life Plan Guide, a special trust referred to as a Henson Trust, Registered Disability Savings Plans, Ontario Disability Support Planning, along with other special investment and insurance options to protect and support loved ones. In addition to the financial planning needs, there are
also long-term care planning needs.

  • Who will look after my child when I die or if I become incapacitated?
  • Where will they live?
  • Who will take them to their doctor and therapy appointments?
  • How will they pay their bills?
  • My whole life has been about looking after my child, but I have other goals that I would like to achieve; how can I do both?

These questions can be overwhelming. Consider building a network of people to provide support for your disabled dependant while you are still healthy and involved is critical. Disabled dependants often rely heavily on their care providers. If their sole care provider is Mom or Dad and they are suddenly out of the picture, it can be devastating for them. Parents should consider aligning themselves with professionals who have experience in dealing with special needs planning, such as Accountants, Lawyers, Certified Financial Planners, Trust Officers, Counsellors, Support Workers, Caregivers and Doctors, as well as Associations, Support Groups and other related networks.

The best advice for families with special needs dependants is to choose a qualified, trusted team of professionals. The financial planning process is similar regardless of whether you have disabled dependants or not.

Develop and implement a comprehensive financial plan and long-term care strategy without delay. Contact us today, we can help!