Succession & estate planning can often seem like a puzzle. That is why we are here to help walk you through each piece of your unique puzzle.
We are passionate about helping our clients clarify their goals for estate, succession and philanthropy planning to give them the confidence to move forward towards making their dreams reality.
Business owners are often concerned with preserving the wealth they have worked so diligently to create. Tax minimization, estate equalization between children, and charitable giving are top of mind when considering estate planning. We work with clients to define their goals in each of these areas, discuss fair vs. equal for their children’s inheritance, and apply strategies to enhance and expand the total value of the estate. We also review wills and other important estate planning documentation to ensure they are up-to-date and reflective of the client’s wishes.
Selling the business or passing it down to children is truly a process, not an event. Planning well in advance of a business changing hands can help the transition go as smoothly as possible. In a family business context, there are additional considerations for how the business affects each member of the family, whether they are involved in ownership, management, or not at all. We recommend a review or creation of a shareholder agreement, which is essential for giving the stakeholders in the business confidence and clarity on what will happen to the business should certain events like death, disability, or disagreement impact the business.
Successful entrepreneurs are some of the most generous people in Canada. Although many have been philanthropic throughout their working life, they begin to consider the bigger picture of their legacy when they are passing the business on to their children, selling the business, or perhaps beginning to slow down and enjoy retirement. Leaving a legacy to a favorite charity or foundation either during lifetime or through the estate is a significant source of joy for many clients, and an opportunity to teach and pass down a love of philanthropy to their children.
In each area of estate, succession and philanthropic planning, there is an opportunity to gain efficiency by utilizing tax-advantaged products like life insurance to achieve the planning goals. By applying an insurance strategy uniquely designed for the client’s particular scenario, significant efficiencies can be obtained, while providing the confidence that the liquidity will be provided to meet the client’s goals precisely when required.
Has anyone ever asked you, “If you were gone tomorrow, will your spouse or kids know where your stuff is?” Click to collect the attachments below and keep all of your important information in one place. Update it often!
Get your own beautiful Leather Binder to house this important information.
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110-130 4th Ave N Saskatoon, Saskatchewan S7K 5V3
1-877-720-7575 (Toll Free) (306) 668-7575
Copyright Continuity 2024. All Rights Reserved.
