Thinking of Retirement or Estate Planning?

For many, thinking about retirement or estate planning is normally not at the top of a priority list. Yet it is essential to consider taking the time to have a plan in place for a comfortable retirement lifestyle. It is also important to make sure your family and legacy is carried out the way you have arranged in advance. When prepared early enough, a retirement and/or estate plan may reduce the amount of taxes paid in the future.

Retirement Planning             

A good strategy is to team up with a Lawyer, a Chartered Professional Accountant (CPA) and a Chartered Financial Planner to assist you in setting up your retirement plan in order to maintain a comfortable lifestyle. A CPA stays current on all the new and upcoming changes Canada Pension Plan (CPP), Registered Retirement Savings Plan (RRSP), Register Retirement Income Fund (RRIF), and Tax Free Savings Account (TFSA) to help you better understand where and how best to save taxes on your retirement income.

Estate Planning

Laying a financial foundation when you are gone is a topic many prefer to ignore; however, estate planning is essential to ensure your wishes are carried out. Estate planning for both individuals and business owners has different requirements. A CPA firm and a Financial Planner of your choice can help you navigate through the complicated process of setting up an estate plan suitable to your wishes you want fulfilled.

For small business succession planning, a CPA can help set up a tax plan to ensure the transition is passed on to family members in an efficient and effective manner.

Retirement and Estate Planning Advisory Services Examples

  • Canada Pension Plan
  • Pension Buyout Tips
  • Registered Retirement Savings Plan (RRSP)
  • Tax-Free Savings Account (TFSA Canada)
  • Probate Fees
  • Estate Planning and Estate Tax
  • Trust Account
  • Succession Planning
  • Register Retirement Income Fund (RRIF)
  • Preparation of Accounting records for Trust Accounts

A few Estate Tax Returns

  • Estate and Trust Returns
  • Deceased Estate Tax Returns
  • Amended and adjustments for trust accounts
  • Disability Trusts

For many, setting up a retirement and estate plan can be a daunting and complicated task. This is why it is a good idea to hire the team of a Lawyer, a CPA and a Chartered Financial Planner of your choice to review your goals to help you prepare to pass on your personal and business financial wealth to the next generation. A wise investment to hire the professionals to help you create a tax plan that will protect you and your assets to minimize probate costs and fees.

If you have any questions or would like to schedule a complimentary appointment, please contact us at or phone 250-763-4528.


At Banka & Company, CPA we help clients Plan, Manage and Succeed