Preserving Wealth: The Next Generation

Toronto-based research firm Strategic Insight projects that approximately $1 trillion in personal wealth will be transferred from one generation to the next in Canada between 2016 and 2026 with roughly 70% of that in the form of financial assets. - Advisors Edge January 30 201870 % of Wealth Transfers fail.- The Future of Estate Planning. Trusts and Estates June 201065% of Canadians say its likely they will leave an inheritance to their heirs or estate but only 46% of Canadians have a will. - Sun Life Canadian UnretirementTM Index 2015.Experts estimate that $1 trillion of inheritances will pass from one generation to the next within a decade in Canada. In addition many individuals are selling their businesses resulting in substantial gains. Accordingly the ability to effectively manage ones wealth and prepare and implement a proper estate plan is no longer just prudent. Its crucial. Jack Lumsden is an experienced financial advisor who uses an easy-to-read narrative style to clarify financial planning concepts that everyone needs to know. Preserving Wealth explains: -Investment strategies to provide for growth and protection of capital -How to develop an effective estate transfer plan to reduce estate costs and taxes -Strategies to preserve wealth and safeguard an inheritance or gift for the next generation -How to select an executor and what to do if you are an executor -The critical discussions to have with your family and-How to assemble a financial team.