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Frequently Asked Questions

At LifeCorp Financial we help you identify and understand the available exit options and you will receive
personalized and hands-on guidance in planning the retirement you deserve.

Most of our clients are business owners and/or incorporated professionals nearing or starting to think about retirement.

We are right for you if:

  • You are considering retirement within the next five to seven years.
  • You run a business in Ontario with sales under $10 million.
  • You recognize the importance of proactive planning.

 We will navigate you through all aspects of your retirement from the present time through the rest of your life—including increasing the value of your business and helping you sell it or transfer it to a family member. We will help you set up an estate plan, invest for income and tax efficiency, and build a legacy. We will design a customized blueprint for you and collaborate with your existing team of advisors to ensure everyone is on the same page, always with an eye on the bigger picture.

Our goal is to help you exit your business on your own terms, within your own timeline, and by your own choice—maximizing the options available for building your new future.

There’s no time like the present to start considering options, evaluating your situation, and constructing a plan—even if you aren’t quite ready to retire just yet.

Complicated strategies can’t be built and executed in just a day. It can take 3-5 years to maximize the value of a business, particularly if it is owner-centric or has too much customer concentration. Certain conditions must be in place for more than two years to qualify for massive tax deductions like the Lifetime Capital Gains Exemption.

Exit planning is truly option planning, and no one has ever gotten in trouble for planning too much.

The earlier you start thinking about a plan, the easier it will be to ensure that things work out as you envision them—avoiding unnecessary challenges, and bringing your dream retirement to life.

Based on recent surveys, 78% of business owners are planning to retire in the next 10 years, and 80%
plan on financing their retirement through the sale of the business.
However, what many don’t realize is that a whopping 4 out of 5 businesses out there are not worth
enough to meet that goal and cannot be sold in their current state.
Many owners report feeling burnout, face questions about their future, and want to know and
understand the options available to them.
Finding themselves unprepared for life without a company paycheque and business tax write-offs, many
retired owners end up working excessively until death or physical disability—at which point, their
business is often liquidated at a fraction of its actual value.

But that’s not all. 3 in every 4 business owners who were fortunate enough to sell their companies
reported that they regretted doing so after just a year—as most did not have a life after business plan
and lost their identity with the sale of their business or they were not satisfied with the final sale price
after the due diligence process.
This doesn’t have to be the case.

Wealth management is more than just tax planning, preparation, and investment advice.

It encompasses all parts of a person’s financial life, both personal and corporate. You can think of a strategic wealth advisor as an architect, builder, and general contractor, all in one—whereas an accountant or Financial Advisor are more like an independent contractor or specialist.

Instead of attempting to integrate pieces of advice and various products from multiple professionals, who more than often have never met, business owners may be more likely to benefit from an integrated approach.

In this method, a strategic wealth advisor coordinates the services needed to manage their clients’ assets, along with creating a strategic plan for their current and future needs.