Self Employed

Owning your business is a great adventure in life, but many self-employed professionals find themselves putting all their eggs in one basket; by putting all their extra income back into their business. As years pass your business equity will grow, but you will have a lack of diversification. We will help you build a plan which will protect your business, manage your cash flow and ensure your family will be taken care of if anything were to happen. Click "Our Service" to see what we can do for you and your business to assure that your family and business goals are met.


It is never too early to begin establishing an estate plan. This becomes a critical element when you start a family or begin building assets, especially a considerable one such as a business. By creating an estate plan you will protect that which matters most to you and ensure your family and your legacy are looked after.

Here are some things to consider:

  1. Wills – Have you put in writing what your wishes are should something happen to you and how your business should be looked after? Should the business itself have it's own Will? Is it of importance to you and your family who your various assets go to and how the business will be maintained?
    Please give us a call for your free Will Checklist and Organizer
  2. Powers of Attorney – If something were to happen to you such that you become incapacitated, who will make medical and financial decisions for you? - Your spouse, your parents?
  3. Establish a trust – Do you have "minor" children? Are you worried about misuse of inherited money? Would you like some of your money to go to a charity? Trusts can be very useful, but sometimes complex tools.
  4. Insurance – If you have debt, heavy dependence on your spouse's income, or dependent children, then appropriate insurance is essential. Will your spouse be left with substantial financial strain or will your children lose out of future educational opportunities if something happens to you? What will happen to your business if something happens to you? Does your business rely on you to function (are you a key person) how will it continue should you not be there? More information

Retirement Planning

As someone who is in the process of starting up a business or perhaps who is a seasoned entrepreneur and looking towards retirement, it is important to consider your plan for retirement. Building up a business is a considerable achievement in and of itself, but without a well planned exit strategy you may be unintentionally exposing yourself to undesirable consequences. Retirement planning is a pivotal element in a successful financial life plan.

Here are some things to consider:

  • Do you know what kind of lifestyle or income needs you will need in retirement?
  • Do you have a retirement plan?
  • Do you want to (and can you) sell your business, transfer your business, or continue working in some capacity upon retirement?
  • Do you currently have any pension or retirement savings accounts? Are you contributing to them?
  • What investment tools are you using? (TFSA, RRSP etc.)

Income Replacement

We rarely want to think about bad things happening to us. However, the reality is that they can happen. You need to consider what protection you have in place for you, your family and your business and whether or not it is adequate should something befall you!

Here are some things to consider:

  1. Life Insurance: Do you have any debt? How would this debt be paid for if you died? Is your family protected? What will happen to your business if you die?
  2. Disability Insurance: If you become disabled, how will your monthly expenses be paid? Will your business be able to continue functioning? This is one of the most important forms of insurance.
  3. Health insurance: Do you have health and dental coverage for yourself and/or your employees? (Please give us a call to see what types of coverage opportunities are available.)
  4. Critical Illness Insurance: Should you be stricken with a severe or even terminal illness such as organ failure, how will you pay for the best and most immediate care? How will your monthly expenses and lifestyle changes be covered?
  5. Long-Term Care Insurance: The costs of caring for a person once they become older and increasingly incapable of performing daily tasks is exorbitant. Do you have a plan in place to ensure care for yourself when and if you reach this stage in life?

Mortgage Financing

At this time in your life you may or may not have already purchased a house and have some sort of mortgage in place. For those just getting started, or perhaps moving onto purchasing a second home, or even purchasing a business property, there is a lot of information out there, much of it confusing, some of it misleading and it is easy to become overwhelmed. The key is to get some expert advice before making a decision about one of the most important assets you will own in your lifetime. Depending on where you are at in your home ownership process the options can differ. We always advise clients to seek out the help of a professional mortgage expert before making any mortgage decisions.

Here are some things to consider:

  • Is this your first mortgage?
  • Do you have any other debt or lines of credit?
  • What is the purpose of the mortgage?
  • Is this a business or personal mortgage?


I think it would be safe to say that our children are the world to us. Ensuring they have a bright and successful future is paramount, yet increasingly expensive. It is critical to begin planning early so that neither you nor your children will be burdened with exorbitant financial strain during one of the most important educational stages of their life.

Here are some things to consider:

  • Do you plan on sending your children to college, university or some other post-secondary educational program? Do you want to assist them with the ever increasing costs of tuition?
  • Have you begun a savings plan? What kind of investment tools are you using?

Ailing Parents

As you get older, you must not fail to remember that your parents will age as well. And as we age, things change and roles begin to reverse. For those we love dearly, it is a good idea to plan ahead for the inevitability of ageing- the increasing possibility that your parents will require help looking after themselves.

Here are some things to consider:

  • Who will look after your parents when they begin to be unable to look after themselves?
  • Do you have a plan in place for financing and relocating them if necessary?
  • Who will make the decisions should they become incapacitated (Please see estate planning, in particular Wills and Powers of attorney).

Tax Planning

If you haven't already been introduced to the immensely erosive power of taxes, you will inevitably get to that point as your business grows. Taxes can cost you a lot of money, or if managed correctly, can save you a lot of money. We always recommend seeking the help of a professional tax advisor when making any decisions with tax consequences.

Here are some things to consider:

  • Who prepares and files your taxes?
  • Are you co-habiting with someone or are you married? Do both of you earn an income? Do you have any children? (A variety of tax-savings strategies here, especially for family businesses).
  • Are you a sole proprietorship, a partnership or a corporation?
  • Do you have a holding company?
  • What tax savings tools or investments are you using and have you consulted a professional before using them?
  • Most importantly, do you currently have a tax advisor (accountant)?

Major Purchases

As an entrepreneur, and perhaps as someone just starting out in their career, you are now entering a stage in your life where you will begin to make some of the most considerable purchases in your lifetime. Do not let this concept daunt you though. There is a lot of advice and plenty of tools out there to help you accomplish your goals. The key is to make sure you are not putting yourself in a vulnerable and financially stressful position. You should always consult a tax advisor when making decision with tax implications.

  • What kind of purchase are you planning on making (house, business property, equipment, renovations, vehicle, cottage, etc)?
  • What kind of planning, if any, have you done to accommodate this purchase?
  • Do you currently have any outstanding debt (Mortgage*, line of credit, loans, etc)?
  • Do you have, or have you consulted with a financial or debt advisor?

Please contact our office for more information or to set up an appointment.
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