Estate & Succession Planning

Estate Preservation and Distribution

Transferring Wealth to Future Generations

Let professionals help you with your duties as executor

Estate Complexity – Agent for Executor Tool

Estate Planning for Blended Families

Preparing Inheritors

Nadia runs a successful consulting business in downtown Calgary. It struggled a bit during the pandemic, but is rebounding nicely. Recently divorced, Nadia lives with her three school-aged children and is also a part-time caregiver to her ailing mother who lost her husband to cancer three years ago. A typical day for Nadia is one of constant juggling between her duties as an entrepreneur, mother, and caregiver. And she is not alone.

If you own a vacation property, this provides information on the tax consequences of selling a second home and highlights important estate planning considerations, if your plan is to keep your vacation property in the family for the next generation.

You have devoted yourself to providing for your family and saving for a comfortable retirement, but have you also planned for what would happen if you were no longer around to take care of things or if you became incapacitated? While there are a number of legitimate reasons for avoiding the issue – ranging from “I don’t have time” to “it’s a difficult topic to think about” – estate planning is too important to ignore.

While there are no death or estate taxes in Canada, provincial probate fees (also referred to as probate taxes) may be imposed on the value of parts of a deceased’s estate assets. This article explains the process, advantages, and costs of probate, and provides strategies to minimize probate taxes with probate-planning strategies.

One way for high net-worth and ultra-high-net-worth families to carve out an equal helping of the estate planning pie – and to reduce tension among family members – is with trusts. Wealthier families have long used these structures to maintain more control over their legacy and ensure money is distributed to family members according to the wealth creator’s wishes.