Private foundations play a crucial role in philanthropy by providing resources to support various charitable causes. These organizations are typically established and funded by families or individuals with a strong desire to make a difference in their communities. However, managing a private foundation can be complex and challenging, especially when it comes to governance. In this blog post, we explore...
The Succession Law Reform Act (SLRA) is a crucial piece of legislation that governs the distribution of property in Ontario when someone passes away without a valid will. The Act has undergone some recent changes that you should be aware of if you are planning your estate or have been named as an executor. In this post, we will provide...
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 as the quarterback and personal CFO...
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 wealthy investors who are considering how...
Estate planning can be a complex process, especially when a loved one is facing incapacity. One of the most challenging issues in estate planning is determining whether an individual has the mental capacity to make decisions about their own assets and care. In some cases, family members may seek court-ordered capacity assessments to determine whether their loved one can manage...
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 family foundation will have without...
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.
Family offices have become increasingly popular in recent years as a way for wealthy families to manage their financial affairs. These private wealth management firms are designed to provide personalized financial services to wealthy families. But what are the right reasons for starting a family office, and what are some of the big mistakes to avoid?
In Ontario, achieving modest wealth is attainable, but it can lead to unexpected challenges. Once material needs are fulfilled, it's easy to become aimless and lack motivation, potentially leading to depression and addiction. Wealthy individuals may face unique challenges finding purpose and meaning in life, such as loss of motivation and lack of connection to the wider community. In this post,...
Inflation can be a double-edged sword, affecting borrowers and lenders differently. While inflation can increase the cost of living, it can also have a positive impact on debtors. In this article, we explore two ways that inflation benefits debtors and why taking on debt to protect against inflation may be a wise investment strategy. We also examine how debt makes...
