The TK Advisor -TK Financial Group Ottawa Blog about Life Insurance, Critical Illness Insurance, Wealth Management and Estate Planning

Will Planning and your financial planning affairs !

Do you have a professionally drawn up will ? Do you have a power of attorney drawn up for someone to take care of your affairs if you are incapacitated? Dying without a will is very expensive and will cause your heirs nightmares to settle your estate . You may be thinking" I do not need one as everything will pass to my spouse " WRONG ! What if both spouse die in same accident what happens to the children and assets ? Main items of consideration in a basic will are : executor , guardian and trustee . Go see a lawyer or your financial adviser that understands will who can first explain the provisions of a will to you in way that you can understand . After you have a will work with a lawyer that will spend time to draw up a proper will for you and not as I saw in a business meeting with a client tell them that he will get his ASSISTANT secretary create something for them . If you own a business you should have a business will to deal with your business assets .

New Year Resolutions are like training for a sport !

As a former professional athlete and I business owner I have some understanding about resolutions do do certain things in order to achieve a result . When you start weight lifting you have to set realistic goals , why ? If I said to myself I was going to bench press 445 lbs in one year it would seem a bit unrealistic if I had no previous training or ever lifted weights . I have at times set all these resolutions to only get disappointed and discouraged when I could not accomplish them when either time line or magnitude of the resolution were not realistic . I believe in setting realistic resolutions which with HONEST effort can be achieved with your DESIRE to achieve them . HAPPY NEW YEAR to you and make your dreams come to be your reality !

Insurance Premiums are competing with everything else clients need to buy !

I hate paying insurance premiums for something that will or may happen . People say that insurance is betting against yourself and I look at it differently . Insurance premiums are a sure bet , why ? You will die but do not know when ! Good chance you could face a physical or mental disability in a lifetime ! Critical Illness ! Who do you know who has had a heart attack ? cancer ? stroke ? MS ? Loss of Independence ? Everything else is effected by your health and why do people refuse to face that ? I have delivered cheques into millions for widows , corporations and individuals where there was never a word spoken about how it was too much money they were getting ! PROTECT YOUR DREAMS AND FUTURE !

Christmas is a wonderful time to reflect on our lives !

Why chose Christmas to reflect ? Throughout the year we have been busy working and often taking things or people for granted . Life get's in the way . You know what they say , if you want to make God laugh tell him your plans ! For me it was a year of growth , challenges and growing up .Even 53 year old need to grow up ! We need to reflect on our blessings in life and there are many when we start to analyze our life in those wee moments of the night . No regrets just full steam ahead . Love yourself first was a lesson that I am working hard to engrave in my mind . Love the people who helped you in personal life . Appreciate clients that gave you the opportunity to serve them and thank them ! Get rid of resentments and reconnect with old friends as they have been there for you .

Why do I focus on serving needs of corporate and professional clients ?

I know that corporate and professional clients are extremely busy . They are also most exposed to risks that often they do not even realize exist and a false sense of " I am ok " exists in their planning process . I have worked with lawyers that do not have a will , shareholders that do not have a agreement or employment contract , business owners that thought they did not need insurance for the office because landlords had that covered , Doctors whose office overhead policies would never pay at time of disability , business owner whose disability policy would pay after 2 year waiting period and many more situations like this . Why do these people continue to be exposed ? They are not putting priority where it needs to be , on their needs !

Branding is more then a add or a cute web page !

Weare working with Don Hewson to better brand our firm and more effectively present to the public what we really do . What does this mean ? While we do have a web site www.thetkgroup.com , I have been told by clients who have now know what we really provide for them that our web does not come close to showing that expertise . We have decided to hire Don Hewson and his firm to create a total solution for us . What did we experience ? Our initial meeting was one of the best 5 hours of planning I have been involved in . Don and John guided us through the process which helped us identify where we needed to improve certain things while also identifying our core strengths .

Business Owners are exposed to huge risk !

Most business owners believe that they are protected adequately with insurance coverage but we constantly uncover in our insurance audits gaping holes . Corporate clients have distinct needs and insurance is only a small part of those needs . Have you thought about : business will ? personal will ? family trust ? spousal trust ? creditor proofing ? shareholder agreement ? testamentary trust ? Working with us your legal and accounting advisers will be invited to assist us in a team environment to create effective structures to meet your needs . When you require outside expertise our network of advisers will provide you with needed expertise .

Protecting your ability to earn income at older ages !

We have successfully created insurance solutions for the mature work force . A number of individuals have left their employment and now continue to work as consultants while earning at times greater income then when they were employees . Take an example of a Senior partner of an accounting firm who retires before age 65 and decides to consult to various corporations . Now this accountant is 62 years old making well into 6 figure income and realizes that his earnings are no longer protected as the group policy Long Term Disability coverage was gone when he "retired " as a partner  from his firm . What should he do to protect himself ? Disability Insurance or Critical Illness insurance ? After completing a thorough analysis of the situation , Critical Illness was secured to cover potential loss .