Book by Dale Barrett
Tax-Wise Estate Planning for Pharmacists
Succession, Sale & Transfer of a Pharmacy
A niche guide for pharmacy owners that brings tax and estate planning together for one of the most valuable assets a pharmacist owns: the pharmacy itself. It covers incorporation, the sale of a pharmacy, succession to family or partners, and structuring the transfer to keep more of the value in the family's hands.
Who it’s for: Pharmacy owners and their advisors.
- Pharmacists
- Succession
- Business sale
- Estate planning
From this book
Articles & guides drawn from this book
Free, plain-language guidance adapted from the book — part of the Barrett Tax Law Learning Centre.
Post-Mortem Tax Planning and Pipeline Strategies for Pharmacist Estates
When a pharmacist dies owning corporation shares, the same value can be taxed twice. Pipeline planning and the subsection 164(6) loss carry-back are the two principal answers — and the will has to grant the executor authority to use them.
Read →Family Trusts for Pharmacists: Multiplying the Lifetime Capital Gains Exemption
A family trust can let a pharmacist's spouse and children each claim their own Lifetime Capital Gains Exemption on a sale — sheltering several million dollars — while voting control stays in licensed hands. Here is how the structure works, and its limits.
Read →Corporate-Owned Life Insurance and the Purification Strategy for Pharmacists
Held in the right entity, corporate-owned life insurance funds estate taxes, supports buy-sell agreements, and protects QSBC status. Held in the wrong entity, its cash value can taint the pharmacy corporation and cost the LCGE.
Read →Selling Your Pharmacy: Maximizing Value and Minimizing Tax
Selling a pharmacy is both a business transaction and a life milestone. Purification, a share-vs-asset decision, family-trust multiplication of the LCGE, and a going-concern HST election can change the after-tax result by hundreds of thousands of dollars.
Read →Pharmacy Succession Planning: Corporate Reorganizations That Preserve Value
Every pharmacist eventually retires, sells, or transfers the practice. A succession plan built on section 85 rollovers, purification, an estate freeze, and a Holdco preserves QSBC status and the Lifetime Capital Gains Exemption.
Read →
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