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Family Wealth Management
A risk management plan deals with family financial continuity in the event of a death, disability or critical illness of a family member. In any of these situations we want to be sure there is enough income replaced and cash on hand to maintain the family’s current lifestyle and deal with debts, taxes, final expenses, and expenses related to getting back on your feet.
Everyone has an estate and needs to plan how they want their estate to be distributed during their life and upon their death. An estate plan ensures you determine how your assets will be distributed. For many people this is about legacy planning and transferring their assets to the next generation or to their favourite cause. Tax minimization for many also plays an important role.
Accumulating enough capital during your working years so you can create your own paycheck during your retirement years is an important process. However, creating income from that capital in retirement is quite a different process. Capital preservation, tax minimization, making your money last as long as you do, how you will live in retirement, health risk management and wealth transfer become very important planning issues that are quite different during your accumulation years.
Herr Wealth Management is a team based planning organization that focuses on helping our clients achieve important financial objectives. We believe most people should have a comprehensive plan which provides the blueprint for improving their financial situation, ensures the achievement of their important goals, creates family harmony, delivers clarity and most importantly peace of mind.
116-355 Elmira Rd N, Guelph ON, N1K 1S5
735D Arlington Park Place Unit 10, Kingston, ON, K7M 8M8