In this episode we talk to Chris Thompson – Advanced Case Consultant from Equitable Life of Canada. We cover lots of of topics throughout this edition of the Wealth Multiplier podcast. Below you’ll find a preview of the questions and topics we covered. Enjoy!

We cover lots of of topics throughout this edition of the Wealth Multiplier podcast. Below you’ll find a preview of the questions and topics we covered.

We talk about a client who sold a business and how they are going to extract the capital from the company to help their retirement, their family and their grand children.

We talk about business owners that are transitioning a business to the children in the next generation and how we recognize the kids that aren’t going to be participating in the business.

How do the business owners use the strategy to generate retirement income if they haven’t created non-business wealth for their retirement plan?

How do we use an estate freeze and a family trust to buy some time to make decisions and give flexibility to the family to achieve the different participant’s goals?

What professionals are involved in helping the family – the lawyer, investment advisor, the banker, the accountant – what do they all do to help the family get from where they are today to where they want to be and achieve their goals?

There are 3 things you transition in the business 1) the work ethic 2) you transition the business and 3) the excess wealth to the non-business kids. How do you do this?

How do you use a cash value insurance policy to use corporate money to create a non-business asset for the non-business kids while keeping tax in mind?

What kind of paperwork and documents do you need as the business owner and the family in order to make the business transition is done properly?

We talk about Bernard Arnault’s family – owner of LVMH – and how his family talked about business at the dinner table so the adult children are ready to take over the company and keep it running for the next generation.

We start to answer the question “How do I get the money out of my company without paying 50% or more in taxes?”

We go over all these questions and many more, please enjoy the recording to get the full experience.

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