Succession Planning

Total 154 Posts

Control in the Valuation of Business Interests for Estate Planning

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From time to time, I am asked to prepare, review or comment on structures for estate planning purposes with a mind to valuation issues. A common valuation issue is control and whether or not the value of the business interest(s) in the estate plan should be discounted for lack of control or should have premium attached to it because the holder of the business interest(s) do(es) have control. Valuators rely….

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Business Succession Planning, Canada Revenue Agency, Estate Administration, Estate Planning, Investments, Property, Small Business, Succession Planning, Tax Issues, Trusts, Uncategorized, Wills

Taming the Cottage Gremlins with a Non-Profit Organization

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This Blog was written by Carol Willes, One of our family’s favourite pastimes at the cottage is to build a roaring campfire and spend the evenings telling stories, singing along to guitar tunes and roasting the occasional marshmallow. Every so often, however, some unwelcome visitors show up and crash our campfire bliss. This generally happens when the fireside conversation turns to the future of the cottage once mom and dad….

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Cottage, Estate Planning, Family Conflict, Succession Planning, Uncategorized, Wills

Valuators – 2018 Might be a Very Good Year

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I mentioned in my last blog that the government is proposing measures to limit the application of the lifetime capital gains exemption (“LCGE”) to owners of eligible small business corporations, based on age and “reasonableness”. Subject to certain exceptions, the proposals ensure that property held by a trust will no longer be eligible for the LCGE. Under the current proposals, there are transition rules which will permit a one-time multiplication….

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Canada Revenue Agency, Estate Administration, Estate Planning, In the News, Investments, Property, Small Business, Succession Planning, Tax Issues, Trusts, Uncategorized

Fair Tax Plan is Not Fair

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When I was a child I would get together with kids in the neighborhood and we would play games like racing toy cars. Someone would call out the rules and the games would go for hours to the delight of our parents. On occasion one of the kids would do something that appeared to others as outside the rules which would be greeted with howls of protest “… not fair”…..

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Estate Planning, Executors, Succession Planning, Tax Issues, Uncategorized

For Whom the Bells Toll: It Tolls for Family Trusts?

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As we continue to absorb the draft legislation (together with explanatory notes and consultation paper) introduced by the Department of Finance to overhaul the system of taxation for private companies, some things have are becoming clear. If essentially enacted as currently drafted, the legislation will likely spell the end of family trusts for tax planning arrangements, particularly in the private company setting. Traditionally, for tax planning purposes, family trusts are….

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Business Succession Planning, Canada Revenue Agency, Estate Planning, In the News, Investments, Property, Small Business, Succession Planning, Tax Issues, Trusts, Uncategorized, Wills

Government Targets Tax Planning for Private Companies

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July 18, 2017 was a relatively quiet day in my office. That is until I received a flurry of emails regarding a release by the Department of Finance.  In particular, the Department of Finance issued draft legislation which, if passed, will significantly change the nature of tax planning for Canadian private companies and their shareholders.  The proposed changes will impact both current structures that many Canadian private companies have in….

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Canada Revenue Agency, Succession Planning, Tax Issues
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