Retirement Plans vs Retirement Planning

In thinking about retirement, there is often a focus on specific goals or perhaps idealistic dreams of the future. This open-ended thinking is critical, as achieving the retirement one envisions begins with knowing what that vision entails. That said, there is a major difference between one’s plans for retirements and having an actual retirement plan. […]

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 […]

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.

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 […]