Intergenerational Wealth Transfer

Welcome to our page in Intergenerational Wealth Transfer. Below are links to various topics that we cover often with our clients when discussing intergenerational wealth transfer strategies. If you have any questions or would like more information, please don't hesitate to contact us.

Family Business Succession Planning

Within a generation, over $400 billion is expected to be passed down to inheritors in Canada. How are Canadian families preparing for one of the largest transfers of wealth in history? And will inheritors be ready?

Wealth Transfer, a new report released today from RBC Wealth Management and Scorpio Partnership Ltd, found that only 22% of high net worth Canadians have an inheritance plan in place, yet the majority of them plan to pass on their entire wealth only upon death. You would think that a segment with the most to lose would be the most prepared.

We work closely with Business owners and their other professional advisors to structure a plan for the succession of one of a family's most valuable and cherished assets, their business.  Success in succession is what we strive to help our business owners achieve.

To learn more, please read the following articles:

The complexities of business succession and how to promote success

Succeeding in succession: A guide to keeping family harmony through your business transition (download the article)

Wealth transfer checklist for individuals and familes

Please contact us for further information.

Financial Literacy

Having achieved a comfortable level of wealth, it is understandable that you want your children to enjoy the opportunities available to them. But how do you balance that with raising financially responsible children? 

RBC Wealth Management (RBC WM) is taking proactive steps to strengthen its focus on younger generations, helping to ensure they have the resources and tools needed to be confident and capable as they gain financial independence and as many become receivers of wealth.  As part of this focus, RBC WM is launching a new learning platform, the RBC WM Financial Literacy Program, which offers a comprehensive, structured approach to building sound financial management skills.  Please click here to find out more.

Financial literacy is an important life skill that evolves with a child's maturity level.  To learn more, please read the following articles:

Building financial literacy among the younger generations

Financial management among young adults - realities and strategies

Financial planning tips for millennials

Below are links to inserts from our Financial literacy for your children package, a useful kit that offers strategies to help busy parents like you teach important age-appropriate savings, investing and credit skills.

The kit includes a comprehensive chart of ideas that steadily increases in financial responsibility, with the goal of nurturing an independent and money-wise young adult. We have also created age-appropriate reading material to encourage children to become involved and excited about building money skills and financial awareness.

If you have any questions about the ideas discussed in the kit, or if you would like us to meet with your children to discuss specific strategies, please do not hesitate to contact us.

6 to 12 Years

13 to 17 Years

17 to 18 Years

18 to 23 Years

24 Years +

Summary Chart


Charitable Giving and Philanthropy Strategy

Is charitable giving important to you and your family? For many families, donating to a charity is a core value, but what is the difference between philanthropy and charitable giving?  To learn more, please read the following articles:

A guide to philanthropic giving - today, tomorrow and for generations to come

Creating a lasting impact

A picture of giving in Canada

The Nass Wealth Management team can help business owners take decisive action on many of the topics covered in these articles. Please contact us to find out more.

The Family Inventory Guidebook

The Family Inventory Guidebook has been designed to help you gather a comprehensive list of all information pertaining to your family's current financial status, such as: Personal Information, Professional Advisors, Banking, Investments, Assets, Pension and Insurance.

You will find this inventory a useful reference when creating or updating your financial plan. It will help you step back and look at your overall financial situation and ensure you have considered all aspects of your financial affairs.

Completing this inventory is also a first step in developing your estate plan. It will help you ensure that all assets are accounted for and considered, and that beneficiaries are taken care of. An up-to-date inventory will prove invaluable to your surviving heirs, executors, trustees and advisors as your estate is settled.

You should update this document whenever significant changes in your family's financial status occur. Due to the level of detail and personal information, be sure to keep the information safe and secure by, for example, adding password protection to your soft copy and storing any printed copies in your safety deposit box. If you have any questions while using this document, please contact us.