The Importance of Estate Planning for Canadian Business Owners

The Importance of Estate Planning for Canadian Business Owners
Estate Planning for Canadian Business Owners

Life happens, and business owners would be wise to plan an organized, tax-efficient transfer of assets in the event of an untimely or unexpected death or incapacitation. Business owners work hard to accumulate wealth, so most probably don’t want their wealth to be used in ways that go against their wishes or for their heirs to be left with a significant tax liability. Two primary goals of estate planning, therefore, are to 1) distribute assets according to the owner’s wishes and 2) minimize tax liabilities.

Estate planning in Canada is not as difficult as many may think. This article covers the basics of estate planning for Canadian business owners.

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Should You Use a Private Wealth Management Firm or a Family Office?

Should You Use a Private Wealth Management Firm or a Family Office

Are you a high-net-worth individual, or one who is responsible for making financial decisions for a high-net-worth family? Are you searching for an all-in-one financial advisory “solution” for financial planning to preserve and build your wealth along with the execution of that solution (not just a financial “plan” alone)? If you have answered yes to these questions, then this article is for you.

For most, the best solution may be found by engaging a private wealth management firm along with trusted specialist referrals as necessary. For some individuals and families, greater intergenerational wealth and planned business transitions lead to increased financial complexities which require more personalization. These individuals and/or families may benefit from a singularly committed family office.

But what differentiates a “Private Wealth Management Firm” from a “Family Office” and which is best for your financial circumstances? Read this article to learn more.

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Life-Changing Events that May Mean It’s Time to Update Your Will

Drafting a will is an essential step of any estate plan. But creating a will is not a one-time event. When should you update your will?

While the length of time between each update may vary, there are several life-changing events that may indicate it’s time to update your will. This article lists some of these events.

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