Will Kit
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 […]
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 […]
Many people view inheritance as a golden ticket: it’s the key to paying off debt, travelling the world, 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 inheritance can change […]
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 […]
Updated: June 2024 As our world becomes increasingly digitized, the importance of navigating online becomes essential. This includes preparing for what’s best for ourselves and our loved ones. We need to protect both our digital and physical assets. This is where online Wills come into play. It is a testament to the marriage of technology […]
Updated: June 2024 A supposed “wealth transfer” is occurring. How do rich people pass on their fortunes to their heirs? What can you learn from them? A whopping $84 trillion in assets will trickle down to Millennials and Generation X. Families should (hopefully) put a lot of thought and planning into how that wealth will […]
Writing a will is a task that many of us put off for far too long. It’s often seen as a complex, time-consuming, and expensive process. However, the importance of having a will that clearly expresses your wishes cannot be overstated. That’s where FormalWill.ca comes into play, making the entire process smooth, user-friendly, and affordable. […]
Probate is a legal procedure that verifies a Will and confirms the appointment of an Executor to administer the deceased’s estate. In Canada, the process is governed by provincial and territorial laws, making the requirements and fees vary across the country. In this comprehensive guide, we will explore how this process works in each province […]
