Legacy planning is usually the last step in designing a wealth management plan. It is part of the wealth transfer phase of the wealth management process. Individuals can establish a legacy through a bequest or during their lifetimes.
After fulfilling their financial goals, many individuals look to enrich their communities and charities beyond the traditional charitable contribution. We believe in supporting our clients in this endeavor and work with them to develop planned giving programs that can positively affect their communities not only after their passing, but during their lifetime as well.
A carefully-arranged planned gift can be tax-effective and at the same time balance an individual’s final needs with the needs of their families. It can allow individuals to leave lasting personal legacies and provide their favourite charities with stable funding over the long term, without reducing the estate available to their heirs or jeopardizing their future financial independence.