We had the pleasure of hosting our Estate Planning Seminar at the Terminal City Club on February 8th, 2024. It was wonderful to see our professional partners in attendance, eager to get updated on tax changes and get practical advice on estate planning strategies for their clients. Our lineup of speakers delivered engaging sessions, sharing their expertise and insights throughout the morning.

Here’s what we covered:

Session 1

The seminar began with Dr. Tom Deans, author of “Willing Wisdom”, delivering his session about “The Great Canadian Wealth Transition: Opportunities and Threats.” Dr. Deans shared practical insights on transferring wealth while preserving assets and family relationships. He emphasized the changing dynamics of family structures and the challenges faced by financial professionals in facilitating family discussions and implementing formal governance. Dr. Deans introduced his book, which offers guidance on thoughtful planning and communication to ensure a smooth transition and meaningful legacy.

Session 2

Ian Humphries from Thorsteinssons presented the 2024 Tax Update, giving us the latest CRA changes. He updated us about the changes to the alternative minimum tax, intergenerational business transfers, and real estate updates. Attendees gained practical strategies to navigate these changes effectively and advise their clients..

Session 3

Andrew MacKenzie, Director at Blair Mackay Mynett Valuations, took the floor with his session titled “Business Valuations: Assessing Approaches.” He shed light on the importance of business valuation and the reasons for obtaining a valuation report, covering the various methods. Most importantly, Andrew covered some of the pitfalls of the three approaches when exercised independently and the importance of engaging a chartered business valuator.

Session 4

The seminar concluded with an advisor roundtable led by Garry Zlotnik, CEO of ZLC Financial, joined by ZLC advisors Mike Buytels, Aeronn Zlotnik, and Farzin Remtulla. Together, they discussed “Efficient Strategies for Incorporating Liquidity into Estate Plans,” providing attendees examples through case studies.

Thank you to our speakers and attendees, and we hope to see you all next year! If anyone would like a copy of the presentations, please email us at [email protected]