Retirement Planning for Business Owners in British Columbia
Planning tools for the money side of retirement, written with business owners in mind — kept in the same Vault as your will.
What business owners should know
- When most of your wealth sits in the business, the personal side of retirement is easy to leave until last.
- Run a retirement projection on your personal savings and monthly contributions.
- Set savings goals with a target date and see whether you are on track.
- Check whether your life and disability cover would carry your family if the business could not.
- How an old will stops counting in British Columbia: To revoke a paper will, make a later valid will, make a valid written revocation declaration, or intentionally burn, tear, or destroy all or part of the will yourself or through someone acting in your presence and at your direction. Electronic wills have additional deletion rules. A revoked will is revived only by a will showing an intention to revive it, or by a court order under section 58. Source: Wills, Estates and Succession Act, SBC 2009, c 13, ss. 55, 55.1, 57, 58.
Frequently asked questions
Why does retirement planning matter for business owners?
When most of your wealth sits in the business, the personal side of retirement is easy to leave until last.
How does an old will stop counting in British Columbia?
To revoke a paper will, make a later valid will, make a valid written revocation declaration, or intentionally burn, tear, or destroy all or part of the will yourself or through someone acting in your presence and at your direction. Electronic wills have additional deletion rules. A revoked will is revived only by a will showing an intention to revive it, or by a court order under section 58. Source: Wills, Estates and Succession Act, SBC 2009, c 13, ss. 55, 55.1, 57, 58.
Is this financial advice?
No. The tools do arithmetic on the figures you enter. They are estimates for your own planning, not financial advice.
What do the retirement planning tools cost?
It is included in your Vault. Your will is free.
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