I hope you are doing well. Your youTube videos and website content are really awesome. Much appreciated.
I have an incorporated small business (CCPC). I own 55% of the shares and the rest of the ownership is split equally between my wife and my parents (15 % each). As my parents are aging (in their 80s) I would like to plan accordingly in order to minimize taxes in the event of their passing. Would you be able recommend the best approach for our circumstance? Will we be able to take advantage of Life Time Capital Gain Exemption? Would you recommend to set up a Family Trust (I have 2 teenage children)?
Thank you in advance for your insight.