Safeguard and optimize your hard-earned assets, business and family with enlightened wealth planning solutions
Much like a home inspection, our approach includes taking a comprehensive look at each client’s situation. We dig deep to identify opportunities for improvement, whether immediately evident or not, understand our client’s goals and prepare a customized action plan to spring them forward.
Here is the framework for the overall process:
Step 1: Discovery
Get to know each other
Uncover your foremost wealth transfer or business continuity goals
Reveal looming “icebergs” and fertile “betterment” opportunities
Step 2: Pinpoint Solutions
Identify impactful solutions (in sync with your “big picture”) to propel you forward
Tangibly illustrate the value of our recommendations
Step 3: Carry Out The Plan
Agree on the path forward and keep your existing advisors informed
Detailed work to implement the chosen solution
Step 4: Monitor and Recalibrate
Reconnect at regular intervals to monitor your situation
Make any alterations necessary to ensure the planning continues to have full force
Ensure your estate value for family or charitable purposes will not be eroded by the substantial tax liability upon death, related to various assets for shares of a business you own, by using an alternative strategy to fund this liability so you can keep cherished assets in the family.
With unique contractual benefits conducive especially to estate planning, such as principal guarantees, the amount paid out upon death can perhaps bypass your estate whereby it avoids “probate” fees and is received more promptly and discreetly by the beneficiary. Also, with potential creditor protection features which may appeal to business owners.
If you, or an integral employee, pass away or are incapacitated prior to your intended sale of your business / retirement, it can have a devastating impact on business value and saleability. Ensure business value would be maintained so your estate would realize full value upon its subsequent sale of the business.
For businesses with more than one shareholder, ensure sufficient funds would be available to fund the required purchase of valuable shares owned by the deceased or incapacitated shareholder, and so there is no delayed receipt or collection risk of the proceeds due.
Achieve a fair distribution of your estate to your loved ones while ensuring that the valuable business you own will be inherited by only your child who is actively involved in the business.
Also, tax-efficient solutions are available for excess personal funds or funds inside a corporation that are not needed in the foreseeable future.
Wealth Management Planning
On occasions (usually upon a “monetization” event), a client requests our introduction to an investment manager or to provide investment solutions. Richard does not hold any investment licenses and does not provide investment advice or design investment portfolios. However, in response to our clients’ needs, we have diligently identified a few different options for interested clients.
Richard Weber Prosperity Solutions Inc.
1155 North Service Road West
Oakville, ON L6M 3E3