Areas of Expertise
Estate planning does not happen in some magical way through a will at the time of death. It starts much earlier in life as a family goes through the rigours of comprehensive financial planning culminating in retirement planning and finally estate planning. Estate planning should and must expand beyond document preparation.
If you were to ask most people what they have done as far as tax planning is concerned you would probably get very little response. And yet there is much that can be done for many people. Deferring tax to later years or allocating income to those in lower tax rates is worthwhile. Finding tax deductions not currently used ais also important.
US Tax Returns
The Internal Revenue Service has increased its surveillance and compliance initiatives for Americans living outside the United States who are not filing US tax and other returns. Tax returns are required by US citizens no matter where they live in the world. Most Americans will pay little or no income tax so it's wise to get on board. Those who do not file stand the chance of heavy penalites.
Canadian Tax Returns
So many people believe that the filing of a tax return is simply a mathematical exercise but of course it is much more than that. Each year people give away thousands of dollars by ignoring refundable tax credits, loss carry overs from other years or the splitting of income with other family members. Tax advice in this area is so important and we provide it for all of our clients.
Disability Financial Planning
Individuals with disabilities and their families have complex planning issues if they are to maximize social assistance, tax credits and other income sources. Because many individuals with disabilities have cognitive issues there are far more planning issues to consider, including trusts, tax benefits, RDSPs, Henson trusts and other structures. Coordination of these many income sources is so important.