When you think about your retirement, what do you see for yourself? Do you see yourself traveling the world? Relaxing in nature up at your family cottage? Volunteering for a charity or organization you hold dear? Whatever your vision for retirement may be, we can help you plan for it.

TD Wealth Specialists work with your family and, when required, tax and legal advisors, to answer questions about:
• Wills, trusts, and estates
• Executor and trustee services
• Strategies to balance your priorities and charitable goals

For many, estate planning and preparing for a transfer of wealth can be a difficult subject to discuss.

Who might consider this? A sole proprietor or someone starting a new business.

Owning an incorporated business can allow you to keep funds within the company structure where there is preferential tax treatment. The most obvious example is that the tax rate for small businesses (9% to 13%) is considerably less than the personal marginal tax rate for individuals (which may be closer to 50%). There may also be significant tax deferral opportunities and, depending on the nature of the business, a significant lifetime capital gains exemption available for the owners.

Who might consider this? Families who are sharing wealth and complex tax issues.

The tax benefits of a trust are the abilities to distribute wealth to family members and to lower the overall tax exposure of the family. A trust, which is regarded as a taxpayer for Canadian income tax purposes, is a legal relationship between the person who sets up the trust (the settlor), the person who manages the assets in the trust (the trustee) and the individuals who benefit directly — the beneficiaries of the assets. It can be used to mitigate taxes around the transfer of property, estate planning or preserve assets for minors.

Who might consider this? High income family members with surplus funds.