Succession Planning

Protect the future of your small business after your retirement, disability or death by putting a Business Succession Plan in place.

  • Have you given any thought to what will happen to your small business when you are no longer able - or willing - to run it?
  • Do you plan to hand it your business over to your kids? Or sell it to a partner or an employee?
  • If you have partners, how will a partner's share be disposed of if he/she was to die suddenly?

Succession planning is essential for ensuring continuity for the business, creating a buffer zone to help deal with unexpected events, and providing financial security for the owners.

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Business Succession Planning in Canada

Plan for the future of your small business - learn what you need to know about Business Succession Planning in Canada with this 8-page expert guide.

The guide describes the different types of business structures under Canadian laws, the pros and cons of each type of corporate entity. In addition, it discusses:
  • how to extract value from your business,
  • corporate investing,
  • exit strategies,
  • family businesses,
  • tax planning and estate freezes.
Business Succession Planning in Canada is intended for Canadian businesses and is provided in PDF format.
Free

Canada Checklist for Shareholder Buy-Sell Agreement

Learn how to prepare a Shareholder Buy-Sell Agreement with this checklist for Canadian companies.

What would happen to your business if one of the owners dies or is no longer able to work? A Shareholder Buy-Sell Agreement provides for continuity of the business in those events. Topics included in the Checklist are:
  • qualification of shares for capital gains exemption;
  • provisions of any existing formal shareholder agreement;
  • terms of purchase or redemption (or both) of a deceased shareholder's shares using proceeds of life insurance policies on the life of the deceased;
  • whether life insurance policies will be held by the corporation, by the other shareholders or by a trustee.

The Checklist will walk you through what you need to consider when preparing a Shareholder Buy-Sell Agreement under the Income Tax Act (Canada). Get your copy today.

$12.49

Canada Criss-cross Shareholder Buy-Sell Agreement

Have you started succession planning for your business? Ensure continuity of ownership and management with this Canada Criss-Cross Shareholder Buy-Sell Agreement.

  • The Buy-Sell Agreement provides for the purchase of one shareholder's interest by the other shareholder upon the death of the first shareholder.
  • The purchase is made by a method called the 'criss cross' method. That means that each shareholder holds a life insurance policy on the other shareholder, and the deceased shareholder's shares are purchased using the proceeds of the life insurance.

The Canada Cross-Cross Shareholder Buy-Sell Agreement is a fully editable Canadian legal form which can be customized to fit your circumstances.

$29.99

Canada Criss-Cross Shareholder Buy-Sell Agreement with Trustee

Ensure the continuity of ownership and management of your company, even if one of the owners dies, with this Shareholder Buy-Sell Agreement for Canadian businesses.

  • The shareholders have appointed a trustee for the purpose of holding life insurance policies on each shareholder in trust to the benefit of the other shareholders.
  • If a shareholder dies, the trustee, on behalf of the surviving shareholders, will purchase the deceased's shares in the company using the proceeds of the life insurance.

The Canada Criss-Cross Shareholder Buy-Sell Agreement with Trustee template is a downloadable and fully editable Canadian legal form.

$29.99

Canada Shareholder Buy-Sell Agreement (Corporate Redemption Method)

Would your business survive the death or retirement of one of the owners? Provide for the continued existence of the business with this Canada Shareholder Buy-Sell Agreement (Corporate Redemption Method).

  • The corporation obtains life insurance policies on each of the shareholders and uses the proceeds to fund the redemption, acquisition or cancellation of the corporation's shares.
  • Upon the death of a shareholder, the corporation redeems the deceased shareholder's shares and makes an election that the deemed dividend is to be paid from the capital dividend account to the extent possible.
  • The Agreement contains several different options for methods of valuating the shares.
  • The Agreement is made pursuant to the Income Tax Act (Canada).

The Canadian Shareholder Buy-Sell Agreement (Corporate Redemption Method) is available as a downloadable and fully editable MS Word template.

$29.99

Canada Shareholder Buy-Sell Agreement (Hybrid Method)

The Canada Shareholder Buy-Sell Agreement (Hybrid Method) is an option that Canadians can consider to put a succession plan in place for the continuity of their small business.

  • This type of buy-sell agreement is known as a 'hybrid' buy-sell.
  • Under this Agreement, the corporation holds life insurance policies on each of the shareholders.
  • Upon a shareholder's death, the corporation will collect the insurance proceeds, and use the proceeds to fund the purchase of the deceased shareholder's shares by any of the surviving shareholders who are interested, on a pro rata basis (proportional to their existing shareholdings).
  • Any unpurchased shares will be redeemed by the corporation.
  • The corporation will make an election for a deemed dividend to be paid from the capital dividend account if possible.
  • The Agreement is governed by Canadian income tax laws.

The Canada Shareholder Buy-Sell Agreement (Hybrid Method) is available in MS word format and is fully editable.

$29.99