“Obviously it’s best to have something in place from the get-go,” says Jane Martin, an estate lawyer with Wilson Vukelich LLP in Markham, Ont.
She says business owners need to ask themselves: “If something happened to me today, would the business be able to keep running?”
If the answer is no, “it’s a really good time to sit down with a financial planner and maybe a tax advisor, but definitely with an estate planner.”