Estate Planning
Protect What You’ve Built. Plan for What’s Next.
Estate planning helps you prepare for the future of your family, assets, and business. A thoughtful plan considers how wealth may be transferred, the tax consequences that could arise, and the steps needed to support a smooth transition.
At HCCPA, we focus on the financial and tax aspects of estate planning. We take the time to understand your circumstances, explain your options, and work with your legal and other professional advisors to help bring the pieces of your plan together.
Planning for the Future
A Clear Strategy for Your Wealth and Legacy
Your family situation, assets, business interests, and long-term goals all shape the decisions you make. We begin by understanding what you want to achieve—whether that means providing for family members, preparing for retirement, transferring a business, or preserving wealth for the next generation.
From there, we identify financial and tax matters that deserve attention and help you evaluate practical planning options.
We can help evaluate strategies such as trusts, estate freezes, tax-deferred rollovers, and business succession planning to create an approach that supports your long-term goals.
Planning for the Transfer of Wealth
Your Plans Come First
The way assets are owned and transferred can affect both the tax payable and the amount ultimately available to your beneficiaries. Depending on your circumstances, we can help you assess the tax considerations of trusts, lifetime transfers, corporate reorganizations, and other estate planning strategies.
We explain the financial effect of different approaches so you can make decisions with a clearer understanding of the potential outcomes.
Business & Estate Succession
Preparing for a Smooth Transition
For business owners, estate planning also means deciding what will happen to the company. A transition to family members, partners, employees, or a future buyer may require time to prepare.
We can help you assess the financial and tax aspects of a succession plan, including the ownership structure, the value of your business interests, and the timing of a proposed transfer. Where appropriate, we work with your lawyer and other advisors to help coordinate the plan
Ongoing Estate Planning Support
Guidance Beyond the Initial Plan
An estate plan should be revisited when your circumstances change. A new business venture, a change in family circumstances, a significant purchase or sale, or a shift in your retirement plans may affect earlier decisions.
HCCPA can continue to review your strategy and provide guidance as major financial or business changes occur, helping keep your estate plan aligned with your long-term objectives. The original page similarly emphasizes continued advice through estate freezes, transfers, and other planning processes.
Common Estate Planning Questions
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I own a business. When should I plan for succession?
It is best to begin well before you expect to retire, transfer ownership, or sell the business. Early planning gives you time to decide who may take over, whether the transition will happen gradually or at once, and what you want the business to provide for you and your family.
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What happens to the tax on my assets when I die?
Canadian tax rules may treat certain assets as though they were sold immediately before death, which can result in tax owing even if the assets are passed to family members. The outcome depends on the assets and your circumstances. We can help assess the potential tax exposure and discuss planning options.
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How often should I review my estate plan?
Review it when a significant change occurs, such as a marriage, separation, new family member, business transaction, major asset purchase or sale, or change in retirement plans. We can revisit the financial and tax aspects with you and coordinate any needed updates with your lawyer.