Protect what you’ve built: pass on your assets without unpleasant tax surprises
In 2025, family wealth management is more than ever a strategic issue for Quebec families. Between tax obligations, inheritance rules and the growing complexity of assets, it’s essential to have a clear vision of your situation… and the right tools to manage it.
The foundations of enlightened management
Family wealth isn’t just about money. It’s all the assets accumulated over a lifetime – home, investments, business, pension plans, insurance, valuables… It’s also what you want to pass on to your loved ones, in the best possible conditions.
Anticipating the tax consequences of death, structuring transfers and ensuring equity between heirs: these are actions that require thought, strategy and support.
What assets do you own?
The answer may vary depending on your family and professional situation, but your assets generally include :
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- Your residences (primary or secondary)
- Your investments (RRSPs, TFSAs, non-registered accounts)
- Your company shares
- Your vehicles, valuables or works of art
- Your life insurance policies (if there is a cash surrender value)
- Your accumulated pension plans
The key? Having a complete, up-to-date overview, and above all, one that’s aligned with your family’s goals.
The matrimonial regime, an essential framework in Quebec
Did you know that the matrimonial regime has a direct influence on the division of assets upon death? Whether you are married under the regime of partnership of acquests, separation as to property or de facto union, the rules differ considerably. In some cases, your wishes must be reinforced by a will or spousal agreement. Otherwise, the Civil Code will decide for you.
Understanding your plan and the impact it will have on your loved ones is a key step in your planning.
Protection and inheritance: acting with vision
Death taxes can quickly reduce the value you pass on to your heirs if nothing has been anticipated. So it’s essential to plan ahead:
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- Deemed disposition of your assets at death (which may generate a taxable capital gain)
- Spousal turnover strategies
- Protecting the liquidity needed to cover taxes
- Periodic review of your will, beneficiaries and shareholder agreement, if applicable
Thoughtful planning also means peace of mind for those who remain. At Demers Beaulne, our multidisciplinary team is with you every step of the way: estate planning, death taxation, business structure analysis, integration of family and professional objectives. Our approach is personalized, humane, and always focused on the long-term viability of what you’ve built.
Your assets in safe hands
Taking care of your estate means taking care of your family, your projects and your long-term vision. Acting now means avoiding surprises and ensuring that your wishes are respected, in compliance with current tax and legal regulations.
What if 2025 was the year you took the right steps to protect what matters most??
More questions? We have the answer.
How can you protect your assets in the event of your death?
Protecting family assets in the event of death requires careful planning. The surviving spouse automatically enjoys legal protection over certain assets, including the family residence and motor vehicles used for family travel.
A notary can help you put in place additional measures, such as a last living gift, which increases the surviving spouse’s share beyond the legal provisions. This clause offers three options: to receive full usufruct, one-quarter full ownership plus three-quarters usufruct, or full ownership of the available portion.
The marriage contracts can also include specific provisions to protect the estate, such as a preemption clause allowing the survivor to withdraw certain assets before the estate is divided.
How are assets divided (succession/inheritance) in the event of death without a will in Quebec?
The value of family estate is divided equally among the heirs according to a structured process. The moment of death marks the beginning of the liquidation process, when each asset is appraised at its fair market value.
The married couples or civil union share their assets according to specific rules. The deceased may have made special provisions in his or her will, but the law guarantees a minimum share to the surviving spouse and children, known as the hereditary reserve.
The pension funds, Quebec Pension Plan and other equivalent programs are treated separately. Their accumulated value during the union is included in the calculation of half of the value to be shared, thus ensuring equitable distribution between rights holders.
What assets are excluded from family assets?
Several categories of property remain outside the scope of matrimonial division. Gifts and inheritances received before or during the marriage retain their personal character, as do any sums or assets acquired through them. This rule also applies to strictly professional assets.
Personal financial investments, bank accounts and shares are not part of the family estate, unless they are linked to a pension plan. Items for the exclusive use of a spouse, such as private collections or specialized equipment, also retain their separate status.
A notary can clarify the status of certain complex assets, especially when their use combines personal and family aspects. This distinction becomes particularly relevant when settling an estate, to ensure fair distribution.
Who are the legal heirs of a deceased person? (inheritance law)
Legal succession follows a precise order established by the Civil Code. Direct descendants – children, grandchildren – are the priority heirs and share the estate equally. In the absence of children, the married or civil union spouse receives two-thirds of the estate, with the remaining third going to the deceased’s brothers and sisters.
The deceased’s parents can exercise a right of return on assets given to their child during his or her lifetime. This special rule enables the recovery of family assets passed on by gift, ensuring that they remain in the original lineage.
More distant heirs, such as uncles, aunts or cousins, inherit only if there are no heirs in the preceding ranks. The estate is then divided between the paternal and maternal branches of the family.
