Category: Strategic Planning
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Modern Wealth Management: Bridging Generations, Values, and Technology
Wealthy families are facing complex challenges that span generations. Whether it’s transitioning from traditional methods to modern digital systems, aligning portfolios with contemporary values, or navigating the emotional side of wealth transfer. These challenges often involve more than just financial considerations—they encompass tax issues, values, and family dynamics. By bridging generations, values, and technology, our…
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Is a Family Trust a Good Idea?
Is a family trust a good idea? Picture this: a maze of family trusts, promising shelter for assets and strategic tax benefits, yet concealing hidden complexities that could trip up even the most seasoned investors. While family trusts offer a shield against creditors and a cloak of privacy, are they truly the holy grail for…
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Family Foundations Challenges and Solutions
Family foundations are often formed with the best intentions. But, like many family businesses, family foundations also struggle to survive past the founding generation. What are the biggest family foundation challenges preventing success? Overcoming the issues that cause family foundations to fail is crucial for ensuring their longevity and effectiveness. Here, we’ll briefly highlight the…
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Essential Guide to Cottage Succession Planning
Cottage succession planning is one of the most emotionally charged and difficult aspects of an estate plan. Unlike a stock portfolio, cottages are touched by emotions, memories, and can’t be easily divided in the same way between your heirs. Therefore, cottage owners face unique estate planning challenges. So, this post will describe the key elements…
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Estate Administration: Step-By-Step Guide
In the world of estate administration, finding common ground with more universally understood experiences can offer valuable insights into the complexities and demands we might encounter. One analogy that brings this perspective to life is comparing the process of administering an estate to the detailed and prolonged effort required in cultivating a garden. Both endeavors,…
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Multi-Generational Wealth Management: Strategies for Success
When it comes to multi-generational wealth management, is financial wealth the only capital worth cultivating? While financial capital is significant, considering various aspects of capital, including human capital and leadership, is essential to successfully transition wealth across generations. This post explores some strategies that can aid the transition of wealth to heirs and unearths the…
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Succession Planning for Private Foundations & DAFs
Private foundations are a popular avenue for many high net worth individuals who want to actualize their philanthropic ambitions. In Canada, we have over 6,000 registered private foundations and many more donor advised fund (“DAF”) accounts. But, while setting up a private foundation is an exciting milestone for many charitable donors, an embodiment of their…
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Financial Contingency Plan: A Guide for Wealthy Families
The financial consequences for wealthy families without financial contingency plans are high, as uncertainties are a certainty. Since, the peace of mind that comes with having a substantial investment portfolio can be easily disrupted by unexpected events. Changing circumstances, legal entanglements, unforeseen personal tragedies, or even shifts in tax regulations can pose significant threats to…
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Estate Planning Basics: Working with a Family Office
Markdale Financial Management is our family office dedicated to managing the financial affairs of wealthy investors. One of our key roles of our family office is to coordinate the work of investment and insurance, legal, and accounting professionals when it comes to estate planning. In this blog post, we’ll explore how our family office serves…
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Estate Planning Tips to Avoid Spoiling Your Children
As a wealthy investor, the question of how much money to leave your children without spoiling them is likely one that weighs heavily on your mind. While some might consider this a nice problem to have, it’s still a problem that needs to be addressed thoughtfully and carefully. This blog post explores some tips for…