Sadly, many family businesses don’t survive after being transferred to the next generation.  This is often due to a lack of effective succession planning – and a vital component of any succession plan is careful estate planning!

Take a moment to consider the following estate planning questions:

• Do you have a buy-sell agreement with any co-owners of your business that will be triggered upon your death? If yes, do you understand the effect of these provisions and is your...

Protecting Your Business From Capital Gains Tax – The Estate Freeze

As a business owner, your estate plan should address both your personal and business assets.  However, estate planning for business owners is more complicated as it needs to address potential tax issues.  If you want to maximize the wealth of your estate by minimising its tax burden, an estate freeze is a useful tool. 

CAPITAL GAINS TAX

Any assets not inherited by the surviving spouse or...

One of the most preventable causes of a failure to sustain a family business across generations is a lack of preparation and in particular, the development of a succession plan. Unfortunately, a considerable portion of family businesses have no succession plan in place.  

Below you can find a list of a few simple steps that can be taken within a family business to increase the chances of a smooth transition of the company from generation to generation.  Of course, there...