Join CAFE VI on May 15th, 2013
for a morning workshop: Moving your Parents
Moving your Parents (Slowly and Carefully ... or Kicking and Screaming) out of Business
A look at Succession planning ideas and tricks, to help ease the transition from one generation to another.
Our panel of estate planning tax and legal specialists will be joined by a local business owner, who has gone through the succession maze, to help outline the process and considerations that parents, or kids considering taking over the business should be aware of... and will outline some of the more innovative tricks to minimize taxes for everyone; and plans to ensure no unpleasant surprises show up.
Our experts, and our business owner, will be covering:
- Valuing your business interests –how can we be fair to both generations ?
- What is an estate freeze and how does it work ?
- Should we use a family trust ?
- What is an alter ego or joint partner trust ? What will these save us?
- What is a fair repayment schedule ? What happens if we never pay the full amount?
- How can we finance the buyout of some of parents interest – can I use RRSPs,
pensions or other techniques?
- How do we minimize the taxes on these buyouts ?
Our panel will be moderated by Derrold Norgaard, FCA, a Chartered Accountant, long standing CAFE member, and a recognized specialist on tax planning.
Our speakers will include highly respected Victoria professional in estate planning:
Grant Kratofil, Tax Accountant, with a well deserved reputation as an estate planning specialist. Grant practices in Victoria, and has been serving family businesses for more than 15 years.
Stewart Johnson, a Victoria lawyer and a long-standing CAFE member who is a specialist in estate planning.