Business Strategies and Succession Planning

In order to have achieved your present level of success, your attention has been focused almost entirely on your enterprise, and so it should have been … that's the way it usually works. However, now it's time to re-examine your overall plan and address any oversights that could end up ruining all your hard work!

Have you considered…

  • Executive compensation programs that can include funding the contributions with corporate 20% taxed dollars and then possibly not paying tax at the time of the withdrawals?
  • The transitioning of your firm to the next generation, or possibly to your key employees?
  • How you will fund your comprehensive shareholder's agreement?
  • The use of a family trust to creditor-protect your assets and maintain privacy?
  • Group RRSP and pension plans?
  • How you will tax-efficiently remove the retained earnings from your corporation?

Networth Asset Management Insurance (If you would like more information on various risk solutions, please click here and let us know how we may be of service to you)

Multi Generational Wealth Management

Risk Management and Family Security

Retirement Goals and Estate Planning

The Unique Financial Concerns of Women

Business Strategies and Succession Planning

 

 

 

 

 

 

 

 

 

 

These are just some of the key considerations that you need to address now, while you have the ability to guarantee that your dreams come true.

INTERESTING INFORMATION

  • 75% of family owned business will not survive through to the third generation.
  • 80% of the total wealth of Canada is owned and controlled by privately held corporations.
  • 45% of the national gross domestic product (GDP) is generated by family business.
  • 50% plus of the Canadian workforce is employed in family businesses.
  • 80% of all jobs created each year are done so in family-run businesses.
  • 63% of businesses have no contingency death plans and 69% have no contingency disability plans (as reported by Deloitte and Touche, 1999).

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