Frank Abate is a Chartered Professional Account (CPA, CA). He also holds a CFP
designation (Certified Financial Planner), and TEP designation (Trust and Estate
Practitioner Designation). Frank’s professional designations, along with his years
of experience as a Tax Advisor (Primarily with Owners of Private Corporations and
High Net Worth Individuals) have provided an excellent foundation for the area of
advice he currently focuses on.
Frank acts as an independent advisor specifically in the area of Estate Planning
with Life Insurance. Given Frank’s extensive tax expertise, the solutions he offers
clients focus on ways to maximize transitions of wealth to loved ones, while
minimizing taxation on death.
Frank works with numerous financial advisors across Canada dispensing advice to
their clients, with a good portion of his time being spent working with the
Ascendant Financial team and their clients.
Business owners and high net worth individuals tend to pay large amounts of tax
throughout their lives. They typically receive outstanding accounting and tax
advice related to their short term needs, however, when it comes to planning for
the long term including estate planning, I see a gap in the advice being offered.
Clients understand the fact that on their passing, taxes will need to be paid.
Typically, they are accepting of this potentially gigantic tax liability at death since
they have not been shown ways to mitigate or eliminate it. I really enjoy working
with these clients to find out what their goals are, and provide solutions to
efficiently and effectively achieve those goals. The underlying objective is to
ensure we leave more to our loved ones, a specific charity, etc… and less to the
government in the form of taxes, while never losing sight of our primary goals on
passing!
On the golf course or snowboarding with my family. It’s funny how things change
with time. Just a few years ago I remember how nice it was to cruise on the easy
runs with my boys, all the while being excited for the time we could hit the double
black diamond runs together. Well, now that they have become great at
snowboarding, I kind of wish we could just hang back on the cruisers as the
double black diamonds don’t seem as easy as they once were for me!
By helping people properly plan for the transition of their assets including their
businesses, it ensures their loved ones are not left with what most people refer to
as a mess. A common phrase I hear from clients is “Building up my Wealth was
easy, compared to figuring out how it will be dealt with on my passing”. I hope
that I can provide the support clients need to make this process less stressful.
Clients that realize they need help to ensure a smooth and efficient transition of
their assets that took a lifetime to build.
On the other hand, I also like to work with clients who think they have it all
figured out, and I can open their eyes to the issues that they had never thought of
before.
© 2024 Ascendant Financial Inc. All rights reserved.
The supporting material, audio and video recordings and all information related to Introduction to Becoming Your Own Banker, The Infinite Banking Concept (IBC) posted on www.ascendantfinancial.ca and all other Ascendant Financial Inc. websites are designed to educate and provide general information regarding The Infinite Banking Concept (IBC) and all other subject matter covered. It is marketed and distributed with the understanding that the authors and the publishers are not engaged in rendering legal, financial, or other professional advice. It is also understood that laws and practices may vary from province to province and are subject to change. All illustrations provided in these materials are for educational purposes only and individual results will vary. Each illustration provided is unique to that individual and your personal results may vary. Because each factual situation is different, specific advice should be tailored to each individual’s particular circumstances. For this reason, the reader is advised to consult with qualified licensed professionals of their choosing, regarding that individual’s specific situation.
The authors have taken reasonable precautions in the preparation of all materials and believe the facts presented are accurate as of the date it was written. However, neither the author nor the publishers assume any responsibility for any errors or omissions. The authors and publisher specifically disclaim any liability resulting from the use or application of the information contained in all materials, and the information is neither intended nor should be relied upon as legal, financial or any other advice related to individual situations.
Family Banking System (FBS)™ is a trademark of Ascendant Financial Inc. © Ascendant Financial Inc., 2024. All rights reserved. The phrase “Live the Lifestyle, Love the Process, Infinite Banking” is a registered copyright (Registration No. 1209863) with the Canadian Intellectual Property Office. Unauthorized use, reproduction, distribution, or copying of this phrase, in whole or in part, without express written permission from Ascendant Financial Inc. is strictly prohibited. This copyright is protected under Canadian intellectual property laws and regulations. Any unauthorized use is subject to legal action and enforcement under Canadian law. For inquiries or requests for permission to use this copyright, please contact Ascendant Financial Inc.
The Infinite Banking Concept® is a registered trademark of Infinite Banking Concepts, LLC. Ascendant Financial is independent of and is not affiliated with, sponsored by, or endorsed by Infinite Banking Concepts, LLC.”
This content is intended for Canadian residents of BC, AB, SK, MB, ON, NB, NS, NU, YT, PEI & NFLD only.