Blair Mantin, Senior Vice-President of Sands & Associates and Vancouver Licensed Insolvency Trustee meets with people every day who are looking for debt help and financial expertise. He knows better than most that there are times and situations in life that call for solutions best left to “the professionals”. Blair joined Global News to share his list of key financial professionals he feels every consumer in BC should have in their “toolbox”.
Watch the clip here, and read more below:
Financial Professionals for Debt Help and Beyond
When it comes to money matters, resources and help, here are the top four financial professionals that every financially successful person should know!
- A Financial Planner
As Licensed Insolvency Trustees we meet with people daily who struggle to bridge the gap between their retirement income and their daily living expenses. No matter if your finances are big or small, the future will be here before you know it. When you have a solid financial plan, it’s easier to make good decisions and meet your goals, short and long-term.
Working with a qualified financial planner can help you:
- Manage your current income and savings;
- Ensure an acceptable standard of living upon retirement;
- Assess and implement appropriate insurances for your lifestyle;
- Provide for your family’s financial security.
- An Accountant
As the expression goes, “only two things in life are certain”… Because Licensed Insolvency Trustees offer virtually the only legal debt solutions to outstanding government debts, we regularly help people who are in serious financial trouble with Canada Revenue Agency, often because they were unaware of their income tax obligations and liabilities.
Even if you have straight-forward finances, a periodic check-in can help keep you up-to-date on tax changes. For those starting or already self-employed, a knowledgeable accountant can save many headaches down the road.
In addition to the potential savings of your valuable time (and money), some benefits of engaging a reputable accountant include:
- Their experience and current/up-to-date knowledge of income tax changes:
- New/changing credits or benefits;
- Filing requirements and set up.
- You avoid having outstanding income tax returns or GST returns.
- A Lawyer
Arguably the professionals everyone “loves to hate” – but they can really save the day when you need one! Laws can be complex and we often hear from people facing major financial liabilities because they were not aware of the legal consequences of their decisions or actions.
Different areas of law require different lawyers, but in general it is a good idea to consult with a lawyer when you’re facing legal disputes or challenges. Some other common situations when talking with a lawyer can be very beneficial:
- Beginning of marriage or cohabitation;
- Separation or divorce;
- Business start-ups;
- Wills and estate planning;
- An accident or injury is involved.
- A Licensed Insolvency Trustee (LIT)
The last professional is (let’s be honest) one that no one really wants to have in their contacts, but as we often say – “knowing is not owing”. No matter where you are at financially, “life happens” and knowing where your resources are in the event life takes an unexpected turn can be crucial. Debt continues to be a big challenge for Canadians and you need to know which professional to contact for guidance should you find yourself in need of debt help or advice.
Licensed Insolvency Trustees are the only professionals that the government of Canada empowers and endorses to help Canadians with debt. Some of the questions or situations a Licensed Insolvency Trustee can help you or your business with include:
- Explaining your legal rights and remedies when it comes to debt;
- Whether a debt is collectable;
- What to do when you can’t pay a debt;
- Providing knowledge of and debt solutions for virtually all types of debts;
- Free, impartial advice.
When it comes to finances, there is an expert professional with resources for each unique component – it’s important to take your financial advice from the right source at every step.
Feeling debt-stressed or have questions about how to manage, consolidate or write-off your debts? Book your free confidential debt consultation with a caring professional at Sands & Associates today – we’re here to help.