Business Planning

There are a number of tools, strategies and solutions that can offer your business a measure of economic security and help you reach the goals of your financial business plan.

Click each tool title to read explanations:

  • Unanimous Shareholder’s Agreements (USA)
    USAs define when, why, how, to whom, and under what terms a shareholder may or must turn over beneficial ownership of shares to others. USAs typically outline what is to happen in the event that any working shareholder is unable or unwilling to perform responsibilities to the business by reason of death, disability, or retirement (voluntary or involuntary).
  • Buy/Sell Funding Agreements
    These are supplemental to or sometimes in lieu of a USA. These agreements are designed to ensure business shareholders have the cash available to purchase the shares of a deceased or disabled shareholder. Various insurance policies are often acquired to provide the funding necessary under the terms of the agreement.
  • Key Person Insurance
    This insurance mitigates financial losses caused by death, disability, or critical illness of a key employee. Losses incurred due to interruption of key business activities, hiring and training a replacement, salary continuation, and/or other related causes are offset or recovered by such insurance plans
  • Business Succession Planning
    Eventually, ownership of every business will change. Succession planning is structuring the when and how of that change. Often it provides for the distribution of shares as well as any surplus assets while minimizing taxes and interruptions to the business operations.
  • Shared Ownership Strategy
    This strategy involves splitting ownership of components of financial products like life, disability and Critical Illness insurance between a Corporation and its owners or employees. Corporate dollars can be delivered as tax paid personal benefits through this unique structure. This technique is most commonly used to enhance retirement income funding and in executive compensation planning.
  • Employee Benefit Plans
    These plans cost-effectively provide basic life and disability income insurance for all employees. extended health, dental, and drug benefits also assist in maintaining a healthy workforce and reduce absenteeism.
  • Health Care Spending Accounts
    This is a remarkably flexible mechanism designed to fund a wide range of health related expense items for employees on a tax-free basis, while remaining fully deductible to the business.
  • Group Accident and Sickness Program (GASP)
    This program protects employees from a personal health care crisis (emergency care, long-term care, critical illness, or disability). The premium can be set up as an expense to the company and the benefit as non-taxable to the employee.
  • Group Registered Retirement Savings (RRSP) and Pension Plans
    These plans provide a formal structure for a business to assist its employees to provide for adequate income in retirement.
  • Individual Pension Plans (IPP)
    These plans assist business owners to increase tax-deferred wealth outside the company beyond the amount available with traditional RRSP limits. An IPP allows a company to create a tax-deductible expense when moving funds into the personal control of the business owner without immediate taxation. These IPP funds are protected from the creditors of the owner and the business.
  • Retirement Compensation Arrangement (RCA)
    This is similar to an IPP, an RCA funds a business owner’s retirement while also providing an element of key person or estate planning life insurance