Indo- Canada Chamber of Commerce organised an interactive session on Intergenerational tax planning: transferring wealth to next generation on 02-December 2014 at the ICCC headquarter.
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Phil Friedlan
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Mr. Phil Friedlan, J.D, MBA, of Friedlan Law was the guest speaker at the session. He shared his expertise on importance of estate planning, tax and non-tax issues, consequences of failure to plan in advance and other family issues. In Canada it is estimated that approximately $ 1 trillion would be transferred between generations over the next generation. Out of 100 families;54% do not have plans in place, he said. Planning in place is must to create, preserve and review that wealth in the person’s lifetime and distribute those assets after the death as per the wishes of that individual. |
%20Intergenerational%20Tax%20Planning/images/IMG_6822.JPG) Dharma P Jain |
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Mr. Dharma P Jain, President, ICCC in his welcome remarks said that wealth transfer strategy should be understood in letter and spirit to provide financial support to the next generation at each stage of their life. This strategy is ideal for parents who would like to start saving for their child’s future, and grandparents who would like to leave an inheritance for their children or grandchildren. Leaving money for children can be more affordable if it is planned well in advance with an expert advice. A well planned strategy can build a legacy for the people and helpful in maximizing the value of their financial resources. |
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Brij K Sharma
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Brij K Sharma, Vice President Finance and SME, ICCC said, that the session this evening is aimed to create awareness among the Chamber’s continuing effort to provide first-hand information from an expert to make future planning in intergenerational wealth transfer.
The event was well attended despite bad snowy weather and was very well received. |
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