Business Owner

An ultra-high net worth client who is equal shareholders with his siblings in a successful transportation company wanted to ensure that the shares he owned in the company could be passed on to his spouse, children and grandchildren rather then traditionally having the shares bought by the corporation on his passing. Having that company connection continue on with the generations to come was something he and his wife valued deeply. We invited our Business Owner Planning specialists to the table to investigate their wishes. After meeting with the couple, and the companies CFO to better appreciate the corporate structure/dynamic, and after having reviewed all relevant corporate documents we provided our business owner client with a detailed report setting out a road map and how their wishes could be achieved. We also included explanations  on the tax consequences of these changes. Our client was instructed to share the details of the report with his team of accountants and lawyers who would review and implement the changes we recommended.


A 70 year-old retiree had been the executor of her husband’s estate when he past way. She didn't want her children to experience the painful process she went through with all the delays, the waiting and the copious amounts of paperwork. We recommended she create  an Alter Ego Trust that would entitle her to transfer all her personal assets (home, boats, non-registered investments) into the trust. The benefit: the Alter Ego Trust would

(1) replace her will

(2) her assets no longer had to be probated so she saved on the probate tax of approx. $14,000 for every $1,000,000 in the event of her passing,

(3) she completely eliminated the delays that come along with probated wills since her Trustee would have the power to act immediately and fulfill all her wishes which are set out in the Alter Ego Trust deed.

(4) her estate remains private, unlike a will that is made publicly available.


A well-established 50+ disabled client with ample cash flow believed that there wasn't any benefit to owning an Registered Disability Savings Plan ("RDSP"). He was right in that government grants were no longer given to those 50 and over. However, we advised him to open an RDSP and take advantage the $200,000 of contribution room that could grow tax deferred until he began withdrawals at 60. That's like having another $200,000 of RSP room at no  additional cost.


A well established incorporated medical specialist sought our advice on how best to leave behind a legacy for numerous registered charities through a foundation. She wanted to create the legacy (make donations) while alive but wanted it to continue after she past away. We explained her options when it came to who would succeed her in making grant decisions.We opened the necessary accounts and filed the requisite paperwork with a CRA-recognized organization that works in concert with RBC Dominion Securities.  She named the Foundation after he late husband. She made a large lump sum donation for which she was provided a tax receipt. And she became making grants to the charities she and her late husband were fond of.