Divorce is not inevitable but it is also not improbable. According to Statistics Canada, approximately 38% of all marriages end in divorce. Many matrimonial divorces involve a family business that is the major source of funds/lifestyle for the family. The business can be put at risk if the divorce becomes highly contested and contentious. Depletion of financial resources combined with distractions and lack of focus/effort on the owner’s part can result in a forc...
Exit planning is essential if you want to maximize the value of your company prior to an actual sale or transition. Business owners should also have a formal exit plan in place to ensure there is a contingency plan in place in the event of death, divorce, disability, dispute, departure or natural disaster. Look no further than the current COVID-19 pandemic and its impact on so many businesses around the world. Having a formal exit plan in place provides you with the control to determine how a...
Business valuation is a vital component of an effective pre-sale planning strategy. It allows entrepreneurs to understand what drives the value of their company and implement key changes in their business model to increase value in the future. At VSP, we prepare professional that offer insights on how to strategically increase your business’s value over time prior to a sale. This r...
The current Pandemic and ongoing economic crisis may have caused the value of your client’s company to decline. This may be an opportune time to consider an estate freeze to lock in the company’s current low value and reduce taxes ultimately payable on death by the client’s estate. Some of your clients may be faced with having to determine the during these times. This could be for tax/estate planning purposes, transaction purposes or dispute related purposes (e.g. commercial, shareho...
2020 was a year of unprecedented adjustments. The COVID-19 pandemic has shifted our views on how we run our business, how much risk we are willing to tolerate, and, perhaps, when should be the right time to exit/sell? VSP Valuation provides independent professional to the business and legal communities. We also provide independent in the even...
In this blog, we conclude our discussion of the most common problems that typical Buy-Sell Agreements create for the business owners who sign them. These problems can jeopardize the business’ very existence and make it difficult for the owner’s family to maintain its financial security. When owners learn that their Buy-Sell Agreements can destroy their businesses and leave their families scraping by, they usually want to fix them right away.
As a thriving economic hub, Toronto is home to many businesses navigating the complexities of mergers, acquisitions, and various transactions. In this dynamic environment, plays a pivotal role in shaping the success and sustainability of businesses. Let's delve into how these services contribute to the thriving business landscape in Toronto. Toronto's business landscape is characteri...