"Diversifying Your Investments." Natalie Mitchell and today’s guest and Senior Wealth Advisor Brad Ginet walk us through planning the entrance, exit and growth within a business. When you’re starting a business, you need to plan your entrance and exit strategy. What are you going to do when you leave?
“Diversifying Your Investments.” Natalie Mitchell and today’s guest and Senior Wealth Advisor Brad Ginet walk us through planning the entrance, exit and growth within a business. When you’re starting a business, you need to plan your entrance and exit strategy. What are you going to do when you leave?
As Benjamin Franklin famously says, “If you fail to plan, plan to fail”. Sometimes our exit strategies don’t happen when or how we expect them to. So, how do we plan for that? Brad Ginet, an expert wealth manager, is dedicated to helping clients answer that question, through supporting their wealth through its growth and protection and finding ways to help their money work for them.
“The only things certain in life is death and taxes …and taxes at death.”
When someone passes away, most of their assets are deemed “sold” or in disposition. Meaning the assets would be sold to their designated next owner right before the owner passed away. Thus, all that gain will be taxed in the next tax return after this passing. It is up to the owner to delegate what would happen to their assets but this needs to be planned out in advance. Estate planning carries many unique situations, especially with real estate investments. Things become even more interesting with cross border property ownership as well. There are many things to be aware of.
There is a lot of planning that goes into a successful business and a profitable company. The information you can get at the beginning of the planning stage is critical in setting yourself up properly. When you work with an advisor such as Brad, all he is technically doing is a diagnostic, and typically the fixes are usually quite simple. However, you must do it. There is no reason to be afraid of this, it is a natural part of any business. If you are in real estate, you’re used to risk management. Tax is just another risk to deal with.
As Brad says, “As an independent advisor, I have no stake in the game besides my client’s success. I have only interest in improving a client’s situation”. Today is the perfect day to take the leap into smart investment planning.
