While law schools stick to teaching the tried and true trusts/estates course with an elder law course option for the more adventurous and lawyers make polite suggestions to clients about preparing a will, a vibrant wealth management industry is marginalizing the legal profession’s role in what is an emerging upscale buyers’ market for an application of “boomer law”. Boomers are the demographic bulge comprising 55-70 year olds that is vibrant and expecting to live active lives. The dream of “living the good life” is very much for real for the generation that has had the good fortune to be beneficiaries of secure jobs paying above average wages augmented with generous pensions and able to cash in on residential homes that have significantly appreciated in value. The enhancement, accumulation and preservation of wealth require a combination of acumen and insight.
This is a cash rich cohort that is well educated and accustomed to living well. Living well is intertwined with a number of legal issues that require knowledge management expertise best provided by lawyers through wealth management vehicles such as wills and estate management. Wealth management is a concept that appeals to boomers looking to leverage their savings and investment into some form of active leisure. Pinsky Law presents its clients with wealth management guidance on how to prepare a family inventory identifying who gets what family heirlooms, will planning and estate planning. Do you have a treasured family cottage you would like pass on to the next generation of children? No problem! You can breathe easy because Pinsky Law can provide you with information on how to structure a family trust that will cover equitable distribution of everything from the family cottage to a family trust of stocks and bonds that will ensure there’s sufficient funds for your grandchildren and their children to attend university.
Through an organised and effective tax planning, you may reduce, minimize or defer your Canadian and global income tax burden. Pinsky Law can assist you and your advisers to realise and fulfill your objectives in a manner complying with your behaviours and respecting your values. Pinsky Law can assist you in the elaboration of strategies to minimize or defer the tax payable upon your death or by your estate or heirs, including probate taxes within the framework of your will and estate plan. In the context of closely held companies, Pinsky Law can assist you in customizing your compensation, elaborating income splitting strategies, developing your retirement plan and putting in place other tax efficient plannings.
Who’s to be the executor of your estate? You can nominate a family member and Pinsky Law will act as a legal advisor. Or, if your family is scattered across Canada, Pinsky Law will take on that responsibility and probate the estate. If there’s a home sale required Pinsky Law will manage that as well. We have the ability to negotiate competitive rates if you need to retain outside professionals such as real estate agents. And Pinsy Law will make sure that the eventual disposition of your estate to family members is not a problem. Pinsky Law can assist you in the orderly transfer of your wealth to family members, the planning of your business succession plan and its transfer to family members, employees or other persons.
Pinsky Law can provide a full spectrum of
wealth management services to our clients with focuses on wills, trust
and estates law and has experience in managing wealth portfolios.
Pinsky Law services also include assistance in responding to audit
inquiries from tax authorities, negotiating on your behalf, preparing
notices of objection and appeals against tax assessments and litigating
tax disputes at all judicial levels, including Ontario Superior Court of
Tax Court of Canada, the Federal Court of Canada, the Federal Court of