How clients secure their wealth transfer


    She said, “The biggest mistake is forgetting that transferring to grandchildren has a long-term impact without thinking about what that means at the end of your runway.

    “This is where planning can really start to make sure customers think long term, not just helping Johnny or Susie next month. Make sure that your estate documents show that gifts have already been given or that someone has already received their share of the family business or family foundation. “

    She encouraged clients to think about the proportion of the estate they would like to leave each person, rather than sticking to exact amounts. The value of a property or an RRSP can of course change. When clients view their wealth as a “big ball of pebbles” and try to imagine the different beneficiaries, they can decide how many pebbles to “throw” into the grandchildren’s bowl.

    Timing is of course fundamental to a wealth transfer as more and more senior customers choose to release some or all of their wealth early to help a family member. This can be, for example, a down payment for a house, early entry into the family business or help with a professional reorientation caused by the pandemic.

    The benefits of doing this are obvious. You see the joy it brings – and you also have more control and the ability to monitor and protect that investment.


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