Trusts can be useful tools for implementing tax strategies and can provide valuable estate planning benefits. This article discusses what a Canadian trust is and how to choose the right trustee. As always, and due to different legal structures in Quebec, it is recommended that you consult with legal counsel for advice concerning in-depth tax and legal matters.
While some may consider a large financial surplus as the solution to most problems, the complexity that accompanies significant wealth can present new challenges in its own right. Fortunately, with thoughtful planning and collaboration with the right professionals, these challenges can be overcome. In this article, we explore some of the key areas of concern high-net-worth individuals and families face.
Building wealth is the process of generating and maintaining long-term income from your assets. It also entails protecting your wealth. We’ve all heard of the basic formula—earn more money than you spend, save, and invest wisely—but if you are responsible for the household investable assets of a high-net-worth family, what else can you do to protect and build family wealth? Here are some tips.
As wealth accumulates, so does financial complexity. For this reason, many wealthy individuals pursue a holistic and multi-disciplined style of managing wealth through family offices. Do not worry—family offices vary in source (single-family or multi-family) and size (assets under management), therefore you don’t have to be Bill Gates or descendants of Rockefeller to understand and consider this approach to wealth management.
What is a single-family office and a multi-family office? In this article, we will focus on each type of family office to help you explore what type of is right for you.
A financial plan is often associated with ensuring that your retirement will be sustainable and free of financial shortfalls. If you are a high-net-worth individual or part of a high-net-worth family and are not concerned about outliving your money and running into deficits in retirement, you may question whether the financial planning process is a valuable exercise.
While the sustainability of retirement may not be a concern, a comprehensive financial plan can absolutely add meaningful value beyond simply confirming that wealth is sufficient for your retirement needs. This article highlights 3 key areas where having a financial plan can be significantly meaningful and impactful for high-net-worth individuals and families.