Case study A corporate executive has accrued a significant pension benefit that should sustain most of her lifestyle expenses when she retires in a few months time. In addition, she has almost $1.5 million in shares and stock options of her employer’s firm that she must retain until retirement. Her corporate benefit plan includes life insurance equal to five times her salary and other benefits that will cease upon retirement, which is a concern. She also has young grandchildren and hopes to be able to assist in funding their university education. Factors to Consider
Investment solutions
Tax benefits
Estate planning needs
How we’ve helped
After helping her assess her objectives, we introduced her to a national accounting firm to determine the most tax-efficient way to liquidate her corporate holdings.
We partnered with the Wealth Management Group to create an investment plan in order to provide security as well as an income stream to supplement her pension.
After a lengthy discussion with our client, we analyzed her estate planning needs, determined whether funding medical costs with her accumulated assets would jeopardize her goals, and explored options to replace her corporate insurance coverage that will be lost upon retirement.
To help her fulfill her wish to assist in funding her grandchildren’s education, we advised her to set up a family Registered Education Savings Plan (RESP), a tax-effective way of saving to pay for her grandchildren’s university.
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