Estate planning: How tax on split income can affect your strategy
Estate planningHow TOSI rules affect Canadian estate planning, income splitting, and intergenerational wealth transfers—and what to consider when structuring your strategy.
A strategic succession plan for your family business is crucial to the smooth transfer of assets and the continuation of family legacy. It can also heavily impact the future of retiring and incoming business owners. This is especially significant now, as Canada’s population ages.
The Chartered Professional Accountants of Canada said that $1 trillion of wealth is expected to move from Canadian baby boomers to their children between 2023 to 2026. However, only one in 10 business owners have a formal business succession plan in place.
A well-crafted family business succession strategy ensures a seamless shift of leadership between generations, preserving the company’s legacy while minimizing operational disruptions. And while estate planning is an important part of this strategy—it also involves clarifying roles and expectations early on, reducing potential conflicts, and positioning the business for sustained growth and long-term stability.
In addition, will and estate planning is a key part of your broader succession plan. While almost 75% of Canadians over 55 years old have a will, only 34% of those between 35 and 54 years old have one, according to an RBC survey. A well-structured estate plan can help to preserve your wealth, ensure your wishes are known and followed, and secure your legacy—providing you with the peace of mind that your family is taken care of.
In this series, each piece of content tackles a specific aspect of succession and estate planning to help families navigate this nuanced and complex process. Learn about managing family and business relationships, tax considerations, and more from our content below.
Take the first steps to securing the future of your family and business. We can help you get started on your succession plan. Sign up to receive new content related succession planning in your inbox. You can also contact your local advisor or reach out to us here.
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8 min read
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14 Apr 2026
Prepare the next generation for wealth
Succession planningWhether you sell or pass down your family business, preparing the next generation should be a key part of your succession and financial planning.
Bridging generational gaps in family business
Succession planningOvercoming the challenge of bridging generational gaps is emerging as a defining factor for long-term success and continuity of family businesses.
A powerful strategy for your family and business
Estate planningEstate planning helps to ensure your wishes are known, preserve your wealth, and give loved ones peace of mind. From tax planning to asset protection, start now
Succession planning: Tax considerations for family business
Tax servicesThis article illustrates how a family uses the intergenerational business transfer rules to tax-efficiently pass their business down to the next generation.
A legacy in limbo: Building bridges to family harmony
AdvisoryA family is about to embark on an intergenerational business transition. We discuss how an FEA can help through this complex time and protect their legacy.
How do I develop an exit strategy for my business?
Reevaluate your next stepsWe introduce questions that can help you determine if now is the right time to exit, the advantages and disadvantages of various exit options, and associated tax implications.
