Transferring Business to Family Member in Canada

How do I transfer my business to my family members in Canada? As baby-boomers come closer to retirement, this question is on many of their minds.
As a Tax Accountant in Mississauga, I have assisted many business owners in successfully transferring all or a portion of their business to family members through the use of an Estate Freeze.
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Table Of Contents
02:10 - Estate Freeze
02:35 - Create A Family Trust
03:35 - Cancel Old shares In Company For Preferred Shares
03:51 - Old Company Issues Shares To Family Trust
We started with the question, "How do I Transfer my business to my family members in Canada?"
The answer is to implement an estate freeze, which will allow you to:
• Avoid any income tax whatsoever on the transfer of your business to your family members
• Retain control of your business through the use of a family trust
• Ensure a steady stream of retirement income for yourself
About the Author -- Allan Madan -- Tax Accountant Mississauga, Oakville, Toronto
Allan Madan is a Chartered Accountant and Tax Accountant in Mississauga, Oakville and Toronto, Ontario, Canada.
He has helped many business owners successfully transfer their business to family members in Canada.
To learn more about Allan, visit his website madanca.com
For additional information on Estate Freezes in Canada, see madanca.com/Accountant-Mississ...
Disclaimer:
The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.

[@AllanMadanCA]

Thank you Jimmy