Practice and Succession Planning

Once we obtain a deep knowledge of you and your business or practice, we can help you:

  • Invest your reserve funds.

  • Consider tax efficiencies.

  • Ensure your corporate structure maximizes tax advantages. 

  • Help you to draw money from your holding/operating companies or practice tax-effectively using different strategies and create liquidity to generate a steady retirement income stream.

  • Ensure the business does not need to be sold to take care of the family.

  • Equalize the estate when some family members may not wish to enter the business. 

  • Help you to prepare to sell the business or practice, divest, invest the proceeds.

Practice or business succession services

Unlike traditional business owners, health care professionals cannot easily or objectively measure the value of their practice to transfer it to another clinician, dentist or pharmacist. You ARE your practice or business.
Together with experienced BMO business advisory and practice succession experts, we will help you decide how and when to retire and transition your wealth tax-effectively to loved ones and charitable organizations.
We can help you to consider business strategies such as an Individual Pension Plan (IPP), an estate freeze to transfer your wealth tax-effectively, corporate class tax deferrals to mitigate taxes, and insurance solutions as a tax-efficient estate planning tool.
When the time comes to exit your practice or business, we will help you plan for a smooth succession to help you get the best possible return. We will engage BMO Private Wealth business succession planners, estate planners and business valuation experts and help you create a reliable income stream for life from the proceeds of your sale.