Why Business Succession Planning is More Important Than Ever

Business succession plans have always been important, but they’re arguably more critical now than ever before. The Canadian Federation of Independent Business recently released a report indicating that 72% of small business owners plan on exiting their business in the next 10 years. A substantial number of respondents (47%) actually plan on leaving within the […]

When Should an Investor Update Their Will?

A legal Will is critical to ensuring that the distribution of one’s wealth is carried out according to their wishes after death. It’s not a legal requirement to have one but without a legal Will, an individual’s estate is divided as per provincial law1. This can result in distribution that is not aligned with the […]

The Role of a Liquidator

Most Canadians have heard the term executor; it is synonymous with the Quebec term liquidator. But many remain unclear as to the exact responsibilities and limitations of a liquidator. Simply put, the liquidator handles a deceased person’s estate. The liquidator has to manage bank accounts and assets, distribute these to the deceased’s heirs, and file […]

Business Succession Planning

A business often represents a lifetime of work and vision. Yet, many business owners wanting to exit ownership barely have a formal succession plan in place. Leaving business succession to chance could allow someone else to decide what happens to your business, potentially at significant cost. Planning early helps ensure a smooth and successful transition […]

A Powerful Tool to Minimize Tax

What is a trust? Estate and trust planning is fundamental to the work we perform on behalf of the clients of TWM Group. Traditionally deployed as a way to minimize estate taxes, an astutely designed trust delivers several additional advantages in the context of a coherent estate plan. Fundamentally, a trust is a fiduciary device […]

Elements of a Plan

Succession planning does not take place in isolation from the larger issue of your overall financial security. An effective succession plan will examine all aspects of your financial situation. This includes: A) Distribution of Ownership If transferring ownership of your business, a shareholder agreement is a key tool that should be considered.

Six Steps for Building a Financial Plan for Ageing Parents

We have touched on the issue of caring for ageing parents in the past, but we’re revisiting it again because – for many if not most of us – it remains an inescapable fact of life. In a recent issue of Time magazine, writer Christopher Mathews offered some invaluable insights about the six basic financial […]

Business Succession Planning

A business often represents a lifetime of work and vision. However, despite almost three-quarters of business owners wanting to transfer control or exit ownership within the next decade, barely a third has a formal succession plan in place. Lack of a plan is the most common reason family businesses fail to survive first-to-second generation ownership. […]

Empty Nest

Estate Planning Now that your children have left home, it is probably time to revisit your estate plans. The most important aspect of your estate plan is your Will. Objectives change over time and your Will should reflect these changes to ensure that your estate is distributed according to your wishes. If your children are […]

Planning For a Long Life

Accumulation & Decumulation: facing the financial implications of a long life. Two frequently used terms in any professionally conducted discussion about retirement planning are accumulation and decumulation. The accumulation phase is the pre-retirement period when we work and save for retirement. Upon retiring, decumulation begins. When saving for retirement, the focus tends to be on […]