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Financial Planning

At Gilbert Financial Services Ltd., we believe in empowering you to choose your future and plan for the legacy that you will leave behind. As a Certified Financial Planner, Jim helps you with a comprehensive plan that considers investing and divesting assets, withdrawing from registered funds, and, of course, present and future tax liabilities. Additionally Jim has a particular interest in Divorce Financial Analysis as indicated by his CDFA designation.

*These services are not supervised and are not a registerable activity of Global Maxfin Investments Inc.(GMII). GMII is not responsible for any activities related to such gainful occupation as they are not deemed business of the dealer.

Retirement Planning

Whether you plan to retire completely or partially, we provide you with the right strategies to maintain or grow your capital and minimize your tax burden. Whether you intend to travel the globe or stay close to family, we make sure you are ready for the retirement you envision.

Succession Planning

A family business is only as healthy as its succession plan. The cost of retirement or death can be crippling. In fact, many thriving businesses have been forced to illiquidity because of the tax liabilities triggered by the loss of the business owner. Whether you plan to pass your business along in the near or far term, our team guides you to ensure that the business you have built continues to thrive.

Estate Planning

When it comes for planning your estate, we preserve your family’s significance for now and generations to come. You may wish to leave a legacy endowment to your alma mater or a cause you care deeply about. You may want to ensure the livelihood or prominence of descendants. Whichever you choose, trust that we will create a plan that suits your wishes and minimizes the tax liability on your estate.


Stories



Bestowed Burden:

Before my time as a Certified Financial Planner, I had a long-time friend whose family owned a Farm Equipment Dealership. The intent of the founder was to preen his son to take his place to become the next generation dealer. Sooner than expected however, the father passed away. Beyond the grief and loss of his father’s sudden death, there were some other devastating realities triggered.There substantial taxes owed upon the father’s passing, but because he also left a daughter, there were estate equalization issues to contend with. Despite drawn out efforts to keep the business intact, the business had to be sold to satisfy both the beneficiaries and the government, effectively dismantling the established income and growth of the remaining family. The turmoil of this family impacted me greatly. It put a catastrophic possibility in to a real-world context that I could understand at arms length. With advice from a specialist in risk management and succession planning, these circumstances can be forecasted and avoided to reduce tax burden and plan thoughtfully for all beneficiaries.

Letting Go of the Lakehouse:

One of our clients had recently moved from her house on the lake into town after her husband passed on. Her intention was to sell the lake house, but the market was unsuitable. Sitting empty for nearly three years, the cost to carry was depleting her retirement funds. Moreover, Revenue Canada could disallow her claim of the property to be her principal residence. With some coordination, we helped her arrange a non-arms length sale to a partnership formed by other family members. We crystalized her capital gains and stopped the burden on her savings. This allowed our client to supplement her income with rental income, reduce unnecessary losses, and gave her a runway to wait for the market to improve.

Book an appointment today to see how a relationship with Gilbert Financial could bring you peace of mind.

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