A long time small business owner recently sold his business for a large lump sum. He is married with two children, one of whom is still attending university. As he is only in his early 50s and not ready to retire, he is staying on with his former company and working with the new owners. His primary concerns are capital preservation, tax minimization, and efficient wealth transfer to his kids.

To address the client's goal of capital preservation, we use a conservative asset mix to protect his capital. We have minimized his taxes by moving highly taxed income into the client's and his wife's RRSPs. We also use other tax shelters and income splitting. With the help of our CIBC Wood Gundy Estate Planning Specialists and the client's accountant, we have developed a strategy whereby a good portion of their wealth will be transferred tax-free to their children as well as to their future grandchildren when they pass away.

We have worked with this client and his wife for over 20 years and have a good family friendship on top of our business relationship built on competence and trust. These clients take great comfort in knowing that our team works with their lawyer and accountant to maximize our collective experience, leaving them to focus on family and leisure.