Law and Finance: Stronger together

ITS MOTIVATION TIME

Law and Finance: Stronger together   Kunz Financial Group caught up with Simon J. Hersey from Smith & Hersey  - Agribusiness Law to talk all things legal and finance—plus why having trusted professionals in your corner matters more than ever.  ever.   --   National Bank Financial - Wealth Management (NBFWM) is a division of National Bank Financial Inc. (NBF), as well as a trademark owned by National Bank of Canada (NBC) that is used under license by NBF. NBF is a member of the Canadian Investment Regulatory Organization (CIRO) and the Canadian Investor Protection Fund (CIPF), and is a wholly-owned subsidiary of NBC, a public company listed on the Toronto Stock Exchange (TSX: NA).   Tax Disclaimer: NBF is not a tax advisor and clients should seek professional advice on tax-related matters, including their personal situation. Please note that comments included in this letter are for information purposes only and are not intended to provide legal, tax or accounting advice. The comments reflect the opinion of their author only and may not reflect the views of NBF.

Transcript

00:00Nobody can be an expert at one thing. So if you've got your accounting advisor who knows about you,

00:08knows what you're good at, knows what your goals are, you've got your legal team, that financial

00:12advisor is a piece of that puzzle that's important. We lean on financial advisors specifically when

00:19we're looking at, one example would be estate planning and transition planning. One of the

00:24most common situations that we deal with and that clients deal with is, say you are a business owner,

00:30farmer, rancher, and you've got a child or two that wants to take that on and you've got other

00:36children that maybe aren't taking that on, want to do something different. How do you sort of manage

00:43that? How do you provide value to the non-farming child, say, while ensuring that the farming child

00:51or farming children or business-owning child or children, you know, can continue on without having

00:57a massive financial burden? So the financial advisor comes in and they will often sit down and say,

01:03okay, how do we create value outside of the business asset, the farming asset? So they provide

01:10a great perspective on that. And it's really neat. If you involve a financial advisor early on in the

01:17process, especially, it's amazing what they can do to create that additional value outside of, say,

01:24that main asset, which is the business asset.

Category

Transcript

Be the first to comment

Recommended