Taylor-Zapotoczny Private Wealth Management

Taxes are a critical consideration that impact every aspect of your financial life. As part of a holistic planning approach, we’ll integrate sophisticated tax planning solutions to help manage the complexities of your wealth and ensure your overall plan is tax-efficient.

Over their lifetime Canadians can spend more on paying their tax bill than on mortgages, cars, travel, education and other expenditures. Tax planning can be complicated, and it makes sense that many people are confused about how to manage their wealth tax-effectively and grow it to maintain their lifestyle. We can help create a financial plan that not only achieves your financial goals but also is tax efficient.

We will help guide you on ways to minimize your tax exposure, now as well as upon your passing, in these and other areas:

-Deductions and credits Knowing all the tax deductions and credits to which you are entitled can be overwhelming. Paying the least amount of taxes possible involves knowing what you can claim and identifying strategies that could help reduce your taxes this year and in years to come.

-Saving for retirement Are you getting the most out of your retirement resources? Remaining free of financial worries goes hand-in-hand with a fulfilling retirement. Taking full advantage of tax-minimization strategies and understanding the government benefits available to you can help maximize your retirement savings.

-Business structure planning As a business owner, you have options when it comes to structuring your business. Understanding what option is right for you will help you get the most out of the time and effort you put into your business.

-Compensation strategies As a shareholder of a corporation, you have a choice between salary or dividend compensation. Understanding which strategy is right for you will help you maximize your after-tax cash flows.

-Estate planning A proper estate plan can help address taxes payable upon death, whether by planning to minimize the tax bill or incorporating insurance in your financial plan.

Our team of professionals will work closely with you and your existing financial team.

The value of the role that insurance plays in life has increased for many people. We can help you develop a well-constructed insurance plan, that will benefit your current financial situation and help reduce the chances of future financial challenges.

Insurance provides peace of mind, protection and opportunity. We will work with you through an initial insurance-needs analysis to determine your insurance requirements. Then we will create a unique strategy to protect you and your family’s financial well-being.

-Manage risk and protect your income Policies for managing risks to your financial plan like life, critical illness or disability are important when protecting your family from an unforeseen loss of income or from unplanned expenses.

-Protect the value of your estate Insurance does more than protect you. It is also an opportunity to accumulate additional savings for retirement or to leave more of your wealth, tax-free, to the people or causes you care about.

-Guaranteed income you can never outlive An important foundation of your retirement plan could be a life annuity that may provide a guaranteed foundation for your retirement income.

Creating a legacy for the people, organizations and causes you care about requires proactive planning. We will help you create a carefully structured estate plan that reflects your unique wishes, protects your wealth and provides clarity to those you love.

You have worked hard to build your wealth and now is the time to take control of the estate planning process. There is a lot to consider when preparing a properly structured estate plan that fulfills your wishes.

-Customized estate planning Every estate plan is different, and we can help ensure that your plan addresses your needs. Whether you own a business or a vacation property, are separated or divorced, or are part of a blended family or common-law relationship, your estate plan should be customized to your specific situation.

-Involving your family Properly structured estate plans protect families and clearly define your wishes. Distributing your assets among your beneficiaries without creating tension among them requires sensitivity and careful consideration.

-Avoiding tax-related surprises and disappointments When considering your personal legacy, it is important to understand how your estate may be taxed at the time of your death, and to best plan for tax.

You have built your business to where it is today. We can help you plan for what happens next. A successful transition of your business is a critical aspect of your financial well-being. We can help you navigate the key decisions to help you achieve your goals.

Business succession may involve passing your business to the next generation or selling it to a third party. We can help you evaluate all aspects when building a succession strategy, which include:

-Navigating the purchase and sale of a business, whether to family, management team, or third party

-Accessing the lifetime capital gain exemption – are you eligible?

-Understanding shareholder agreements

-Minimizing the amount of tax you pay

Whatever your route, we offer the experience and expertise to help you reach a decision that is best for all involved. Our team will guide you through the many moving parts to help you understand their potential impact on your overall financial well-being.

The successful transfer of wealth between you and your children begins with a conversation. With the largest intergenerational wealth transfer in Canada approaching, it’s important to be prepared. We can help with that conversation and help you build a sustainable plan.

Your financial well-being is the result of your hard work and discipline. And you will again benefit by taking the same care when planning the transition of your wealth to the next generation.

Our team can help you have a relaxed and constructive family discussion about shared values and goals that will clarify everyone’s needs and improve family communication. While we know that honest family conversations about financial planning can often be difficult, they can enhance the financial well-being of your family and loved ones. (In some families, conversations about money never take place. As a result, beneficiaries are often unaware of their future financial situation until after their father’s or mother’s passing.)

In a relaxed conversation, we will address topics including:

-Inheritance

-Taking care of loved ones
Legacy

-Wills and wishes

-Business succession/transition planning

We invite you to speak with us today about creating a customized tax-efficient strategy to transfer your wealth in a way that reflects your wishes.