Succession Planning for the Future
Business Succession Planning
One of the most important things you can do for both your family and your business is to minimize tax during the succession of a family business. This includes reorganizing the existing business structure and/or setting up a family trust. By working with PDC Business & Tax, you can minimize taxes and other costs and facilitate the healthy transition of wealth without dispute.
Various types of trusts established before or after your death could be utilized to take advantage of a number of benefits. These include, but not limited to the following:
- Creditor proofing your assets from creditors
- Income splitting opportunities with family members
- Reducing Probate Fees
- Maintain control of your assets, and allow beneficiaries to participate in future growth of your business
- Multiplying the lifetime capital gains exemption
Will Planning & Review
Having your will reviewed by a tax specialist is crucial. This is because certain wishes may draw certain tax implications. Having your will reviewed will ensure we help you minimize taxes as much as possible.
Before implementing a family trust, we’ll work closely with you to prepare effective strategies for managing your personal & business assets, and interests.