Episode 79 - Estate Planning, probate & wills w/Fabio Campanella

Gary chats in this episode with his friend Fabio Campanella who is an accountant. Gary and Fabio chatted about some things that most people don’t think about, or like to think about but should. Wills, probate, joint ventures and many other factors affect estate planning. There are tax implications to be concerned about as well, not leaving your beneficiaries a large tax bill surprise after you pass. These topics and more are discussed in this engaging episode.

What you'll learn:

• Why you should choose an accountant that is familiar with investing and real estate details
• Investors should be investors and accountants handle the details
• The details surrounding estate planning and why they are increasingly important - wills, trusts and corporations
• What is probate?
• The concerns and benefits of joint ventures, and the implications of estate planning or untimely death
• How wills work
• They discussed different types of insurance
• Should you consider transferring some of your investment properties while you’re alive, to minimize tax exposure
• What is an ‘estate freeze’?
• He was in the middle of the ’08-’09 market meltdown and the signs he saw towards a collapse
• Should people diversify into stocks or bonds, or stay in real estate
• Why buy and hold allows you to QUINTUPLE YOUR MONEY in 25 years!
• Why accountants should handle the small details, and advise their clients like Gary of high levels details.
• When Fabio advises his clients should incorporate
• How can the economy keep going if there are subsequent waves
• How can you pandemic proof your life
• How will businesses transition back to office space now that office work is primarily at home
• And MORE!

Fabio’s Bio

Fabio Campanella is right there in the trenches with his clients, providing detailed financial, tax and retirement recommendations.

He’s been working in the tax and wealth advisory sector since 2002 with some of the industry’s biggest names such as PwC and BMO Nesbitt Burns. At the same time, he’s been speaking to a larger audience by writing about financial planning for publications such as the Globe and Mail, the Financial Post and the Toronto Star.

Fabio’s speciality as a founding partner of Campanella McDonald LLP is looking at the whole picture. He doesn’t examine your business goals or your retirement goals in silos, but in combination, to develop an action plan that’s best for your particular circumstances and aspirations.

That’s because in addition to his CPA and CA designations Fabio completed CPA Canada’s 3-year, in-depth tax course and has qualified as a Certified Financial Planner (CFP), a Chartered Investment Manager (CIM), a licensed investment advisor, and a licensed life insurance advisor.

This broad educational base ensures that he’s prepared and ready to give expert insight into any financial situation. When he’s not busy creating action plans, he’s busy having fun with his two daughters.

Website: https://www.cmllp.com/

Email: [e-mail]

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