Some of the most successful people I have met have “plans”. They have plans for their business. They have plans for their family (i.e. education, life experiences, sports, etc.) and for their, and their families, financial futures so that no matter what happens in life they know that a particular problem has been solved. This provides them with significant peace-of-mind given the magnitude of these problems not only from a financial perspective but just as importantly, from a family perspective.

It is my experience that many successful families and business owners have either insufficient or no plans in place.  They may think they have everything they need but “we don’t know, what we don’t know.”

Which scenario would you prefer?

A)     A family has sufficient income to retire on, is able to retain ALL of its assets (investments, family home, vacation property, business, etc.), has a seamless and tax efficient transfer of assets to spouse / next generation and, in addition, also has millions of dollars of tax free cash or,

B)      A family has insufficient income to retire on, is forced to sell assets (investments, family home, vacation property, business, etc.) at potentially discounted valuations to pay taxes (which could have been avoided) or to live on, have assets tied up in courts due to either infighting or legal issues with the transfer and, in addition, has significant family infighting.

These types of situations can be avoided entirely as there are flexible plans that can be implemented that evolve as your needs change. These will then solve the significant problems that lie ahead in your family’s future and help maintain family relationships.

Today’s decisions determine tomorrow’s destiny.