Category: Strategic Planning
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Top 10 Problems Your Family Foundation Will Face Without a Succession Plan
Family foundations can play an important role in philanthropy and social impact, but their long-term success depends on effective leadership and governance. Without a succession plan in place, your family foundation may face a range of challenges that can undermine its effectiveness and sustainability. In this blog post, we’ll explore the top 10 problems your…
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Your Family Foundation Must have a Succession Plan
Having plans for the succession of your family foundation in place before they’re needed is critical if you want to avoid legal disputes, conflict between family members, and ending the good works your foundation supports. In this blog post, we’ll explore the importance of creating a succession plan and the key benefits to consider. Strengthening…
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Why have a will?
Are you a wealthy investor who’s been putting off creating a will? Well, it’s time to put your affairs in order and get that will drafted! Not only will it bring you peace of mind, but it will also ensure that your assets are distributed according to your wishes. Here are the top 5 reasons…
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Documenting Your Spousal Relationship
You’ve fallen in love and choose to live with your partner (without documentation). That was in your 20s. Since then, your investment portfolio has grown significantly. What should you do? Or, maybe you have school aged children. What might happen to them if you die? Or, you’re a retired senior and you’ve lost your spouse…
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5 Challenges Inheritors Face (and how to overcome them)
When working class entrepreneurs become wealthy, they bring a perspective about wealth much different from those who inherit it. Wealthy inheritors face unique challenges that require distinct approaches to wealth management. This post describes 5 challenges wealthy inheritors face and how to overcome them: Financial Awareness Lifestyle Management Stewardship Self Esteem Trust in Relationships Financial…
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Updating your Will & Estate Plans
Everyone should have an up to date will & estate plan. If your estate is simple, its easy to write a basic holograph will or consult with a neighbourhood lawyer. But when you’re wealthy its important to ensure your estate plan considers a complex set of tax rules and supports generational wealth transfer. This post…
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Succession Planning for Family Foundations
This post will describe some key governance and documentation strategies to consider when planning for the succession of your Canadian private charitable foundation.
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Private Foundation Governance
Private foundation governance is an important topic for families with multi-generational wealth. This post describes what a private foundation is and how responsibility can be transitioned to next generation family members. Legal Definitions Private foundations can issue tax receipts for donations, make gifts to other registered charities, and manage an investment portfolio. Private foundations are…
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Not Just Money
This post will explain why your financial legacy is more than just dollars and cents and outline how you can cement your legacy with a wealth management process.