Archive for the ‘Business Succession Planning’ Category

A Business Succession Success Story

Wednesday, October 15th, 2014

Last week I stopped by Walter Beauchamp Tailors to purchase a new tie (I was attracted by the “clearance sale” sign in the window). As fortune would have it the owner, Terry Beauchamp, was the person who helped me out. I asked Terry if the store was closing. Terry, who ...

Valuations for estate planning arrangements: Some Tips and Traps Redux

Thursday, October 2nd, 2014

Recently I wrote about price adjustment clauses (PACs) in estate plan agreements. In the blog, I noted the fair market value for the purposes of PACs should be based on fair and reasonable methods. In a recent Canadian Tax Foundation bulletin, Richard Wise provided some additional observations on valuations which ...

PRICE ADJUSTMENT CLAUSES IN ESTATE PLAN AGREEMENTS

Thursday, August 28th, 2014

Many estate plans include a transfer of property (e.g. shares of a privately held corporation) to a company and freeze the value (or price) of the transferred property to the current owners at the transfer date. To avoid some punitive provisions in the Income Tax Act associated with non-arm’s ...