FISCAL PLANNER

Fiscal planning can take on a variety of meanings. For Paul, fiscal planning comprises three essential elements.

The first element is tax planning, the corner stone of fiscal planning. Taxpayers are allowed to arrange their affairs to pay the least amount of tax. Unfortunately, not all taxpayers avail themselves of the numerous planning opportunities that exist both in Canada and internationally.

The second element is asset preservation. Acquiring assets, or building a business, and paying off debts are excellent goals. Over time large amounts of wealth are created without much attention given to preserving that wealth from attack by unsecured creditors.

The third element is estate planning, what to do with one's estate on death (or business on retirement), in a tax efficient manner with preservation in mind. Procrastination is the biggest problem one faces in this element of fiscal planning.

For Paul all three elements together comprise fiscal planning and in his mind they are not mutually exclusive. Common examples of fiscal planning include income splitting, family trusts, asset preservation strategies, wills and enduring powers of attorney.

Paul's practice of law can be defined as fiscal planning. It focuses on educating taxpayers and their advisors of these opportunities and implementing customized fiscal plans. Some of his planning ideas can also be found at The Fiscal Planning Corporation.

R. Paul Jacobson, Q.C.
Jacobson Law Office
Suite 2600, 144 - 4th Avenue S.W., Calgary, Alberta, Canada T2P 3N4
Telephone: (403) 210-0278
email: jake@fiscalplanning.com