No one wants to talk about death. I totally get it. But as Benjamin Franklin famously said "In this world nothing can be said to be certain, except death and taxes."
So for business owners, including online business owners, it is important to do some planning to protect both your business value and also your family members.
One of the inspirations for writing this article now was the recent CBC article featuring my friend Dianne Taylor. Dianne's grief was compounded when her spouse Tim died suddenly and had not been aware that his RRSP designation was still in favour of his mother, not his spouse. The laws of Nova Scotia did not help her recover their retirement savings.
If you think that you don't need to worry about your estate planning because you will be dead, think about your family. They will be the ones left to deal with the consequences.
So onto my top five estate planning tips for Canadian Online...