Our tax and estate planning lawyers advise owners of closely-held corporations and family businesses on estate freezes for the transfer of future growth to the next generation, minimizing income tax on the death of parents and wealth preservation.
An estate freeze permits the tax effective transfer of growth to the next generation, and helps create a greater incentive for the new generation to remain loyal to and promote the success of the family business. As your advisors, we will work with your accountant and financial planner to organize your estate efficiently. If properly structured, the estate freeze can be completed without adverse tax consequences.
An estate freeze may also include the transfer of the growth of a corporation to a family trust, allowing a deferral of the distribution of the growth shares to the next generation while maximizing tax effectiveness.
We also assist clients to transfer personally held assets to a private corporation on a tax free basis to minimize estate administration tax, control the flow of income, allow for the liquidity of assets on death, and reduce income tax on death.
As tax and estate planning lawyers, we work with you and your family or business partners to achieve your objectives using the most tax-effective estate freeze strategies allowed by legislation and the Canada Revenue Agency.