Planning Your Will
The “great wealth transfer” refers to the WHOPPING trillion-dollar fortune shifting from Baby Boomers to Millennials and Gen Z. This massive economic shift is poised to bring relief to cash-strapped younger generations. This may impact Canadians and Americans differently, and we’ll delve into how. Let’s take a look as to how this unprecented wealth transfer may impact younger […]
A woman (let’s call her “Marge”) wrote into an advice column about the fallout over her sister’s inheritance. Unlike most of the stories we’ve written about inheritance, “Marge” wasn’t exactly upset about it. In fact, she was glad that her sister inherited everything from their late mother. Unlike other articles, this isn’t about a typical […]
Being an executor might sound respectable, but do you know what the role actually entails? Why is it a challenging role to take on? If you have recently been named as an executor of an estate, it’s important to carefully evaluate the potential pitfalls that come with the role: the legal, financial, and yes, the […]
The great wealth transfer is currently underway: millennials/genz are finding some financial relief with some money trickling down their way from their boomer parents (this brings up an entirely different topic on the problem of generational wealth). For now, some millennials/genz have some money coming their way; this can go a long way to keeping […]
It’s no secret that Millennials and Gen Z are in a financial quagmire. That’s old news: the cost of living, inflation, and a stagnant job market have all pushed younger generations to the brink of despair. Millennials (born between the early 80’s to the late 1990’s), and Generation Z (born in the late 90’s) have […]
Inheritance can be tricky; many of us dream about receiving a large inheritance from a long-lost dead relative (with no strings attached, of course). Inheritance becomes a contentious issue within families, conflicts arise, and relationships become strained (or completely severed). When a family member passes away, the way in which their assets are distributed can […]
Many people view inheritance as a gold ticket: it’s the key to paying off debt, travelling the word, and living a life of luxury. Many Millennials have been suffering through a prolonged period of economic hardship since the great recession in 2008. The supposed “wealth transfer” might (hopefully) mitigate some of that financial blowback. An […]
You’ve got $50 million dollars – as the title implies. What do you do with it? Before you go blowing it all on a fancy cruise vacation, new house, BMW, new car, or yes, avocado toast, take some time to collect your thoughts and let the fact that you’ve inherited a fortune sink in. That’s […]
Updated: June 2024 Inheritance: everyone dreams of inheriting oodles of money from a rich aunt or uncle. But what happens when you actually get the money? It might not be everything you wish for. Marlene Engelhorn is exactly in that position: she inherited a whopping $36.6 million dollar (in Canadian dollars) from her rich grandmother. […]
Update: June 2024 Wealth: we all chase after it. We all want to be debt-free and worry-free, and to provide for our family and friends. Millennials, in particular, are increasingly relying on their parents’ inheritance to achieve financial stability and achieve financial milestones. Milestones their parents achieved when they were younger than their children are […]
