Estate & Succession Planning

Predictability and continuity are the gold standard of business operations. Nothing is more disruptive than an unplanned event that sends shock waves throughout the enterprise. One of the greatest disruptors is the death of a principal owner or employee. Having solid business agreements in place provides better clarity and certainty for you and all stakeholders, including business partners, family members, employees, customers and suppliers. Regardless of the size and structure of your business, understanding and strengthening agreements, with contingencies in the case of your incapacity or death, is a vital part of estate planning for all business owners.

Life Insurance Policies and Registered Plans Naming an individual, a charity, a trust, or a corporation to receive the death benefit of your life insurance policy (“Policy” or “Policies”) or the funds in your registered plans (“Plan” or “Plans”) at death, is called designating a beneficiary. This type of beneficiary designation is different from making a gift in your Will to a named beneficiary or to a specified class of beneficiaries.

Tax-Free Savings Accounts

In the past, the focus of family estate planning was to ensure property would be passed on to a spouse and/or children in the context of a traditional family. However, today’s family comes in many different shapes and sizes, including blended families, common-law spouses, single households, one-parent families, divorced/separated couples, same-sex relationships, and multiple-spouse family structures.

Article explaining the potential cost of US estate tax for the estate of a Canadian

Estate planning - Designating Beneficiaries

Tax Planning for an Inheritance

The Why and When of Wills