Wealth Transfer & Estate Planning

At Advice First, we believe that estate planning is only one part of the overall Wealth Transfer Process. Our approach goes beyond traditional planning to create a thoughtful, values-based strategy. It’s not just about money – It’s about providing for your loved ones and passing on values and wisdom to future generations before passing on wealth.

Wealth Transfer: A Stewardship Mindset

We see wealth transfer as something that begins during your lifetime, not just after it. This perspective shifts the focus from what you are giving away to how your heirs are prepared to receive it. Our goal is to help you transfer not only financial resources, but also your life lessons, values, and vision for the future - building true stewardship across generations.

1. The Transfer Decision: Who Receives What?

When it comes to passing on your estate, you have three main options: your heirs, charitable causes, or taxes and expenses. The Canadian tax code allows you to reduce or even eliminate one of these, and most people choose to minimise taxes. We’ll show you how to structure your estate so more of your wealth benefits the people and causes you care about.

As you decide, we encourage you to reflect on three guiding principles:

• The Treasure Principle - direct resources where they will create the greatest impact.

• The Unity Principle - make decisions together as a couple to maintain alignment.

• The Wisdom Principle - ensure your loved ones receive your wisdom before your wealth.
  

2. The Treatment Decision: Equal Love, Unique Approach

Many parents say, “I love my children equally, and as such, I must treat them equally”. But we say, “Equal is not always fair.” Or “Equal is not always wise”. That’s because every child’s path is different. Equal distribution isn’t always the wisest or most caring option. When making decisions, we help you reflect on what each child truly needs – considering each in their financialmaturity, current life circumstances, ability to handle responsibility, and the unique dynamics within your family. By looking at the whole picture, you can create a plan that reflects both fairness and love in a way that supports each person individually.

3. The Timing Decision: Give While You Live

Deciding when to share your wealth is just as important as deciding how. For many families, giving during your lifetime creates deeper impact. It lets you put your assets to work while you’re still here—supporting your own needs, helping your loved ones, and advancing the causes closest to your heart. It also allows you to witness the positive changes your generosity creates and gives you the flexibility to adjust your plan as life unfolds. By giving while you live, you’re not only securing the future—you’re actively shaping it.

4. The Transfer of Title Decision: Ownership vs. Management

When it comes to businesses and farms, transferring wealth can be more complex than passing down savings or investments. Ownership—the legal title to the business—is not always the same as management—the responsibility of running it day to day. We work with you to carefully prepare the next generation for leadership, think through how to structure a smooth succession plan, and how to establish strong family governance. This approach ensures that your life’s work continues successfully and sustainably for years to come.

5. The Tools & Techniques: Bringing Plans to Life

We believe estate planning should never start with a stack of generic documents. Instead, it begins with understanding your goals, your values, and the decisions that matter most to you. Only after this foundation is clear do we move to implementation—helping you partner with trusted professionals, designing a plan that is both legally sound and tax-efficient, and selecting the right tools such as Wills, Trusts, and insurance policies. Throughout the process, you remain at the centre, guiding how your wealth will be used to honour your vision.

The first step is establishing a solid estate plan. This involves creating the essential legal documents such as wills, Powers of Attorney (POAs), trusts, life insurance policies, and beneficiary designations. These tools ensure your wishes are clearly documented, your estate is distributed as you intend, and your assets are managed in the most tax-efficient way possible.

To ease the burden on your executor and family, we also provide resources like the Will Companion and Estate Trustee Guide - clear instructions that make navigating your estate smoother and less stressful.

6. The Talk Decision: Preparing Your Family

The final—and often most important—step in wealth transfer is communication. By openly discussing your intentions, you reduce the risk of a “coping gap,” the stress and confusion that can arise when heirs are surprised by your plans. A Family Conference can be especially powerful. It allows you to share your values, goals, and life lessons, set clear expectations, prevent misunderstandings, and foster lasting harmony. Most importantly, it helps your loved ones feel prepared to take on the responsibilities of stewardship while understanding your legacy not just in legal terms, but on a personal and emotional level.

Finish Well. Start Now.

Wealth transfer is about more than money.It’s about building a legacy, creating impact, and preparing your loved ones for the future. Whether your focus is your family, your business, or your community, we’re here to guide you every step of the way.