Seeking Advice on Taxes, Life and Other Things

[MonteDobson]

Good day all!!

I wanted to run a scenario by you all to gather any comments, feedback and suggestions that you may have. I have been involved in real estate now for a number of years and things are going well, but we haven`t quite reached all aspects of our personal Belize, one of which is to give back and help my parents for everything they have done for me over the years.

Without getting into too much detail, here is a brief overview of their current situation:

• My dad is retired after 30 years with a local phone company. Has a good pension and is happy with his income
• My mom is still working but is planning on retiring in the next few years.She doesn`t have a pension but has a considerable RRSP built up and owns a section of farmland in NE Sask that is currently worth ~$500-600K (and she owns free and clear)

Now there are many options to capitalize and maximize this scenario, but essentially my parents goal is to deal with this situation to look after their retirement needs, but they also want to help out their kids and grandkids, and do this all as tax effiiciently as possible.

Here are some options we have ponderered: a) sell the land outright, pay the capital gains and invest in something else that will provide retirement income b ) take out some equity and invest in more real estate c) transfer the land down to us (her kids) or to a corporation d) sell the land using a VTB which would provide some income going forward e) sell the land buy a place somewhere HOT...and on and on!!

As you can see this is a fairly complex scenario. Any suggestions, comments and ideas would be greatly appreciated. Also, if you know of any good financial planners and/or accountants that you would recommend, please advise.

Thanks in advance...I look forward to hearing your ideas!!

Best Regards,