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How to get help in estate planning Canada?

Estate Planning Canada, and Succession Planning Services

Planning for tomorrow, today

As a business owner you dedicated your life to creating and running a business, now you deserve to pass it down in a smooth and hassle free manner, suited to your special needs.
Business succession and estate planning Canada, allows for an orderly transfer of a business and wealth from one generation to the next. It involves unique industry specific issues, as well as a hoard of tax related issues. A lack of estate planning Canada, could result in a larger income tax bill and less being passed on to your successors.
As tax experts and accountants at Madan Chartered Accountant, we can help develop and implement an exclusive estate and business succession plan for you. In addition to facilitating smooth communication, we provide the following services.
Estate planning Canada and Succession planning can help you:

  • Transfer ownership and the future growth of your business to the next generation tax free!
  • Reduce or eliminate the taxable gain on the eventual disposition of your business upon death.
  • Secure a steady stream of income from your business, so that you can enjoy your retirement years.
  • Take advantage of income splitting opportunities immediately.

Diagram of Estate Freeze
Below, is a diagram of an estate freeze structure that illustrates the points discussed above.  For a more detailed explanation on estate planning Canada, please read the article Estate Planning Advice by Allan Madan.






Transferring your Business to a Family Member in Canada

By: Allan Madan | Nov 9th, 2010 | Tax, US Tax, Canadian Tax Read more


Thinking of entering the luxurious period of retirement? Need to make decisions to transfer your business? Allan Madan, an expert on estate planning Canada, can help address all your concerns. Read on to find his step by step instructions to transfer your business to a family member in Canada.


About the Author – Allan Madan

Allan Madan is a CPA, CA and the founder of Madan Chartered Accountant Professional Corporation. Allan provides valuable tax planning, accounting and income tax preparation services in the Greater Toronto Area.


If you find this information useful, kindly +1 and follow Allan Madan on Google Plus by clicking on these two buttons.



# Donald 2014-09-23 16:45
My name is Donald and I am a US citizen and have no intentions on leaving. I saw your cross border tax video's and had a question on estate taxes. I have a wife and 2 kids and I am starting to look into setting up an estate in case anything where to happen to me. I wanted to know generally what deductions are available to reduce taxes I will pay on my Estate?
# Allan Madan and Team 2014-09-23 16:46
Hi Donald,

There are a few deductions available for you to reduce your taxes on your estate plan. One of the primary deductions available to you is Marital deductions. All property included in the estate can be eligible for this tax free deduction.

Other forms of reducing your estate taxes owing would be in the forms of charitable donations. The amount given to charity is deductible from your total estate worth. Also available are mortgage and debt deductions.

# Rodrigo 2014-10-16 19:41

I was recently told I may have to file a T3 tax return on my trust. I was wondering what is a T3? and who is required to file it?
# Allan Madan and Team 2014-10-16 19:42
Hi Rodrigo,

A T3 is a a Trust Income tax return that will provide income tax information to the CRA regarding your trust. Also it will show if any taxes need to be paid to the CRA for the year. A T3 must be filed if the trust:
- Has taxes payable
- is requested to file
- is a resident in Canada who has disposed of a capital property or has a capital gain
- is a deemed resident trust

for more info visit
# Rodrigo 2014-10-24 21:23
Thank you for your reply Allan. I have one further question. I was born in Florida and currently live and work here. My family is from Canada which is why I am unfamiliar with estate planning and successions. I need to know where I would be filing this return too in Canada?
# Allan Madan and Team 2014-10-24 21:24
Hi Rodrigo,
If you live and work in Flordia you would be considered a non resident for income tax purposes. Thus you would have to submit the completed T3 and supporting documents to the following CRA address:

International Tax Services Office
Canada Revenue Agency
Post Office Box 9769, Station T
Ottawa ON K1G 3Y4

note: You have 90 days after the Trusts tax year end to file this return.

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