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As accountants approach retirement, there are many considerations to be made regarding the development of an effective succession plan for their accounting practice. Accountants may have the opportunity to sell their practice, or they may decide to change their professional corporation into an investment holding company in order to hold the assets that have accumulated within the professional corporation. The most beneficial way to handle these assets depends on the amount and type of assets remaining in the professional corporation upon retirement. If the professional corporation is to be re-characterized as an investment holding company, it will be necessary to notify CPA Ontario and to file articles of amendment to remove the specific elements that are unique to a professional corporation. If the APC is a partner in a firm, this fact will also affect the retirement process which may be governed by a partnership agreement. We routinely assist accountants with the development and execution of their succession plan and help identify the most beneficial options available to them in order to ensure a smooth transition into retirement.

If you would like to discuss your retirement plan with us, please contact us and we will be happy to schedule an initial planning meeting.

Incorporation to Retirement

A multi-disciplinary suite of services tailored to assist accountants

Professional Corporations

Incorporating a professional corporation can bring significant advantages. We work directly with tax advisors and accountants to ensure the most appropriate corporate structure is established in order to achieve long term goals.

Estate Planning

As you progress in your career, your estate plan may become more complex. Dual Wills may be used to protect certain eligible assets from estate and administration tax.

Other Legal Needs

As you continue to progress in your career, there are many other legal needs you may likely encounter in your professional and personal life.

Our Team

Learn more about Katherine Serniwka.

Katherine Serniwka

Associate - Business Law