Succession and Estate Planning
You worked hard to look after your family, creating a rewarding lifestyle, and building financial security. We help you plan ahead so your family doesn’t have to worry during a difficult time. Charles Ghadban Accounting is your trusted source for estate planning in Ottawa. Although an unpleasant topic, there are two things we cannot avoid - death and taxes. Estate planning requires us to help you make difficult decisions regarding the transfer of your assets to the next generation. We will assist you in preserving as much of your estate as possible. By organizing and documenting your wishes we will help alleviate any confusion giving you and your loved ones peace of mind. Our services include:
Identifying family objectives to preserve your assets
Develop strategies to reduce taxes upon death
Review and update current wills
Evaluating any life insurance needs
Planning for liquidity of the estate
Ensuring proper implementation of estate plan
Prepare terminal and estate tax returns
Contact us to help with your Estate Plan
Business Succession Planning Services
As a business owner or manager, your main focus is on guiding the day-to-day and long-term success of the business. It should however include succession planning because planning for what will happen when you leave the business is critical to making sure your business is positioned properly and you are financially prepared. Planning for business transition can be challenging. But if handled properly, both the process and outcome can be rewarding.
One of the greatest concerns facing business owners is how to establish and develop a plan that will ensure your business continues to enjoy the kind of success it has had under your management, or knowing when to wind it down. Since there are many options for succession, you may need help deciding which ones best meet your long-term objectives.
For example, do you wish to develop a plan that transfers your business to the next generation? Or, do you want to sell the business? If you plan to sell your business, do you want to sell it to key people inside the business, or to outsiders? What if it is a business that you cannot sell, what is the best way to wind it down?
Preparing for Succession
All the above details need to be discussed from the perspective of what do you and your family want, after transition. What vision do you have for the long-term future of your business? How much time do you have to achieve this vision? How prepared are you and your business for this transition? Planning for succession involves not just long-term business and personal goals, but should also include goals for protecting your assets, minimizing taxes and building financial wealth for your estate.