No matter what a persons age, estate planning is something that most of us should pay more attention to. Most people assume that by simply creating a Will they have ensured their estate will be delivered in full to their survivors: while the creation of a Will is an important step in planning your estate, it is often not sufficient to ensure your family receives the maximum amount they are entitled to.
Canadian estate laws are constantly changing. There is an old adage that says "death and taxes are the only certainties in life". Today it would appear that the adage should be amended to read "death and death taxes are the only certainties in life". Without careful estate planning your spouse and family could end up paying a large percentage of their inheritence in taxes.
It is typical that estate plans are set up to ensure that all property is left to the surviving spouse. However well intentioned this might be, this plan might not produce the most beneficial tax results. There are times when alternative structuring would be more beneficial to the surviving spouse and family.
At Campbell & Company our tax experts are here to help you ensure that your family, and not the government, receive the maximum benefit from your estate. Our Estate and Succession planning services focus on developing tax efficient strategies that ensure both the transfer of wealth and the achievement of family goals.
Our estate & succession planning services include:
- Estate planning, including "estate freezes", to ensure that the impact of taxation on asset transfers is minimized
- Succession planning (owner-managed businesses)
- Creation of family trusts
- Family budgeting and planning to meet future financial goals