Does your plan address the family wealth question?
As a parent or grandparent, family is central to some of the biggest questions you have about your wealth – you want to know that your family will be ok, not only in case something happens to you, but in the long run, once they take on the full responsibility of the family legacy.
But there is often a gap when it comes to planning. Questions about the longevity of family wealth and the readiness of the rising generation are difficult to answer through conventional approaches to wealth management. They require an additional level of expertise.
Over the course of many years working with families in Orillia and the surrounding area, we’ve built this additional capability into our team and our process. The result is a specialized, exclusive program designed to help you create long-term financial stability that extends to the rising generation and beyond.
Our program is built around the needs of couples, their legacies and the rising generation. We work to help you balance the day-to-day requirements of your wealth with the long-term priorities of your family and legacy.
• Guiding families through transitions, retirement and life events
• Implementing wealth preservation strategies to help mitigate tax, manage risk
and optimize cash flow
• Identifying tax-efficient strategies such as family trusts
• Coordinating with your legal and tax professionals to follow through on your strategies
• Disciplined approach to portfolio design and diversification to help
protect your wealth
• Insurance strategies to ensure your family is covered in the event of a sudden change in health
• Access to a network of TD Specialists including:
• High Net Worth Planners
• Tax and Estate Planners
• Private Bankers
• Business Succession Specialists
• Insurance Planners
*As of August 3, 2018. Unique experiences and past performances do not guarantee future results. Testimonials contained herein are unsolicited and may not be representative of the views of others. They have been reviewed and approved in writing for public use.
Passing wealth to the next generation efficiently is a challenge in its own right, but just as complex is the challenge of passing down everything that helped you build your wealth – the prudence, values and overall financial awareness. It’s our belief that both of these challenges need to be overcome in order to create a lasting legacy.
Through our family-oriented process, we’re able to provide the rising generation with not only personal guidance and education, but also tangible financial tools designed for youth and young adults. In this way, we take a whole family approach to building and supporting your intergenerational legacy.Services for children, youth and young adults that include:
• Savings plans
• Trust accounts
• Investment portfolios for young adults
• Guided family conversations to clarify goals and intentionsStructured education process for the rising generation, including topics like:
• Goal-oriented investing
• Budgeting and managing cash flow
• Understanding tax
• Credit cards and debt management
*As of August 4, 2018. Unique experiences and past performances do not guarantee future results. Testimonials contained herein are unsolicited and may not be representative of the views of others. They have been reviewed and approved in writing for public use.
We work to understand and cater to the individual needs of each client and family, and as a result, over the years we’ve developed additional specialized capabilities that include:
• US dollar retirement income planning for clients who are snowbirds
• Solutions for business owners, including succession planning for family businesses
• Periodically ensuring your will and Power of Attorney are up to date
• Unique tools such as the Family Legacy Tree and the Who Gets What When document to help map out the eventual distribution of wealth, who is involved and how it will be taxed
We work with a select group of families to ensure we provide each with ample attention and the full benefit of our family-oriented process.STEP 1: Family Discovery
Our first meeting typically takes about 1-2 hours. We listen, learn about your goals, and gain an understanding of your family dynamic through our
Family Legacy Tree.
STEP 2: Info Gathering
You’re given a checklist to help collect the documents we’ll need to to develop a complete family wealth plan. This includes wills, insurance information and tax returns.
STEP 3: Plan Proposal
Our priority is to present complex concepts in simple ways. We present and review your Investment Policy Statement, wealth planning projections and next steps.
STEP 4: Who Gets What When
As part of the process of designing your estate plan, we also provide a unique document that simplifies and clarifies the eventual transfer of wealth to your beneficiaries.
STEP 5: Strategy Meetings
During the first year, we host quarterly meetings to coordinate with specialists, implement recommended strategies and review your portfolio. After the first year, we host semi-annual review meetings with additional meetings as required based on major life events.
STEP 6: Extended Family Resources
On an ongoing basis, we make available a range of family-oriented resources, including working with your children or grandchildren to help them gain financial awareness.
*As of August 1, 2018. Unique experiences and past performances do not guarantee future results. Testimonials contained herein are unsolicited and may not be representative of the views of others. They have been reviewed and approved in writing for public use.
Contact us at the number below for a brief assessment of your family wealth strategies to help identify how well your legacy is likely to withstand the leading causes of erosion of wealth, such as tax, lifestyle change, unforeseen costs or inefficient intergenerational transfer.(705) 330-0024
Lakeland Family Office is a part of TD Wealth Private Investment Advice, a division of TD Waterhouse Canada Inc. which is a subsidiary of The Toronto-Dominion Bank.