Over $1 Trillion Will Change Hands in Canada by 2030 — Are You Ready?

More than $1 trillion in assets is expected to transfer from Canadian baby boomers to their heirs by the end of this decade. This “Great Wealth Transfer” represents both tremendous opportunity and responsibility.

Without proper planning, inheritances can become complicated — leading to unnecessary taxes, delays, or even family disputes.

With the right strategies, though, your legacy can pass smoothly, efficiently, and in line with your wishes.

1. Make Your Wishes Clear

Updating your will is essential — but so is communicating your intentions.
Open family discussions help ensure everyone understands your wishes and reduce the risk of misunderstandings later on. “In my world, I often hear, ‘This is what Mom and Dad would have wanted.’ Why not just say it?”
— Ian Hull, Estate Lawyer, Hull & Hull LLP

Your financial advisor can help guide these conversations and coordinate with accountants and lawyers to ensure a cohesive plan.

Advice: Schedule a family meeting to discuss your estate intentions — before life forces the conversation.

2. Enable Quick Access to Assets

When the time comes, your loved ones shouldn’t have to wait months to access what you’ve built.
Tools such as segregated funds and life insurance policies allow beneficiaries to receive funds directly — often within 30 days — bypassing probate and estate delays.

These solutions can:

• Provide immediate liquidity for taxes or bills
• Avoid probate and legal fees
• Offer peace of mind during an emotional time

“That 30-day cheque can be a game changer in almost every estate.” — John Natale, Head of Tax, Retirement & Estate Planning Services, Manulife Investments

3. Protect Your Estate — and Your Heirs

Segregated funds and life insurance don’t just speed up the process — they also protect your overall investment strategy. They can:

• Shield assets from market downturns and estate costs
• Provide flexibility and control
• Support wealth preservation for future generations

Trusts can also help manage more complex estates — such as ensuring financial security for a spouse or controlling distributions to children over time.

“We want to help ensure a peace-of-mind approach to wealth transfer for all involved.” — John Natale, Head of Tax, Retirement & Estate Planning Services, Manulife Investments

The “Great Wealth Transfer” is already underway. Whether your estate is simple or complex, planning now can make all the difference later.

A clear, coordinated plan ensures your wealth — and your values — live on.

*Disclaimer: Insurance products and services are offered through Right Direction Financial, an independent and separate company from iA Private Wealth Inc. Only products and services offered through iA Private Wealth Inc. are covered by the Canadian Investor Protection Fund. Her insurance title is Insurance Advisor.

Source: www.globeandmail.comhreestate planning strategies every advisor should know - The Globe and Mail