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 when doing your cottage succession...
As many wealthy inheritors will attest, the “freedom” that comes from material abundance can lead to a paralyzing myriad of choices. Rather than liberating, wealth can often make the journey towards finding a meaningful contribution – a vital part of a rewarding life – surprisingly complex. So to help demystify this journey, this post describes the ways that wealthy...
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 varied forms of capital that often...
We've all come across the adage, “With great wealth comes great responsibility”. It’s not just a throwaway phrase but carries profound wisdom, especially for those who have been fortunate enough to accumulate substantial assets. Successful wealth stewardship is challenging. So, this post will offer both wealthy parents and their next-gen heirs with some tips to help them achieve success. Before we...
Congratulations! You've successfully sold your business. As you close one chapter of your entrepreneurial journey, a new horizon emerges: the world of wealth management and investment. Transitioning from an active business role to managing an investment portfolio is a distinct shift, both in terms of responsibilities and mindset. In this blog post, we'll describe this transition, outlining the differences, challenges,...
Imagine waking up to a serene lakeside view, the whispers of the wind through lush greenery, and the promise of a tranquil retreat away from the hustle and bustle of daily life. However, the allure can sometimes be deceptive. This post will describe two ways to consider a cottage ownership: financial and emotional. On one hand, prospective cottagers will need...
For many wealth Canadians, traveling is fun. But, as we age, the risk of medical emergencies occurring while traveling grows larger. Travel medical insurance companies know this too. So, the cost of obtaining medical insurance also grows larger as we age and our health deteriorates. As a wealthy Canadian investor, you may be wondering whether you should obtain travel medical...
Online fraud is a growing concern for people of all ages, but it can be especially devastating for wealthy seniors. While online encryption is an important tool in the fight against fraud, much more commonly, fraud is caused by phishing. In this post, we'll discuss ways that seniors can protect themselves from online fraud.
Where can drivers obtain the best gas price for their car? Its impossible to say. Since the price for gas is set by a competitive market, what may be the best price today might be the worst tomorrow. Similar dynamics exist for home & auto insurance. And so, there is never any single insurance company that will always provide the best...
Modern family offices have transitioned away from paper records towards digital record keeping using secure e-mail and cloud storage. The result is increased workflow efficiency and the ease of sharing information with professional advisors. But, the transition to online communication and cloud storage also means family offices need to manage the associated cybersecurity risks carefully. This post describes which cybersecurity risks...
