You’ve worked hard to build your business, invested time and money and, in some cases, blood, sweat, and tears. However, when the time comes, and you want to step down from running your business or are no longer capable of managing your organization, do you have a plan to ensure a smooth transition so that the legacy you have worked so hard to build will be protected? Too often, business owners and decision-makers miss this crucial step in their business planning or wait too long to seek guidance. After all, the optimal time for estate and retirement planning is well before you are considering retirement. Whether avoiding the uncomfortable topic of what happens to their business if the worst happens or you simply haven’t considered an exit strategy for when you’re ready to retire, estate and succession planning is crucial to ensuring the success of your business.
Trusted Estate and Succession Planning Experts
A full-service accounting and business consulting firm in Toronto, Black and Gill LLP’s accessibility, responsiveness, and keen attention to detail have made our firm an invaluable partner to owner-managed businesses throughout the GTA and across Ontario for over 20 years. We are passionate about providing exceptional customer service. We are proud to build long-standing relationships with our clients, responding quickly and accurately to answer all their accounting and advisory queries.
Our clients benefit from a one-on-one partnership with a knowledgeable financial expert, and our keen attention to detail and knowledgeable expertise means we will develop an exit strategy designed specifically to meet the needs of you and your business. Whether you are planning on retiring or facing a worst-case scenario preventing you from managing your business, our team of professionals will protect you, your business, and your legacy.
Succession Planning
Developing a detailed succession plan is a crucial component of a well-managed business. Creating an exit strategy and determining how you will transfer ownership of your business when you are ready to step back from a management role without your company experiencing any negative impact while still ensuring that your wishes are carried out the way you would like is essential to the future success of your organization.
Through one-on-one attention, the chartered professional accountants and business advisors at Black and Gill LLP will develop personalized strategies best to meet the needs of you and your business. Whether you plan to retire and exit, transfer your business to family, or sell your business, we will guide you through the options to determine the best course of action for you, then develop a strategy to help you and your business move forward. We can help with:
- Estate freezes
- Reorganizations
- Family trusts
- Life insurance strategies
- Asset protection
- Purification of operating companies
- Business valuations
- Tax planning to minimize obligations
- Determining potential risk
- Cash flow strategies to ensure a transition without interruption
- Asset management in terms of the sale of the business
Estate Planning
No one likes to consider their own mortality or possible scenarios that would leave them unable to manage their business for an extended period of time. Unfortunately, to ensure you and your legacy are protected and your wishes will be carried out, a carefully developed plan for a worst-case scenario is essential for business owners. Without a plan in place, you, your business, and your loved ones are vulnerable to disproportionate income taxes on your estate and an unreasonably complex asset distribution which could result in unnecessary probate fees.
At Black and Gill LLP, our experienced experts take the time to understand our client’s needs and goals for the future. We will develop a step-by-step plan to ensure your wishes are carried out while protecting loved ones, colleagues, partners, and shareholders.
Contact Black and Gill LLP For Comprehensive Estate and Succession Planning in Toronto and Across Ontario
The knowledgeable and responsive Chartered Professional Accountants at Black and Gill LLP are committed to providing expert estate and succession planning services. Our trusted professionals provide one-on-one strategies and comprehensive solutions to meet the unique needs of our clients. An established, full-service Toronto accounting firm, Black and Gill LLP has been delivering reliable accounting, business advisory, and tax solutions to individuals and owner-managed businesses in Toronto and across Ontario for more than 20 years. Contact us online or call us at 416-477-7681 to learn more about how we can help you and your business.