Echoes Series on Legacy Planning

Posted on August 16th, 2024 in Financial Planning & Wealth Management

Mic and laptop screen behind with sound waves.

The Echoes Series on Legacy Planning, hosted by Mike Gassewitz of TriCert Financial Group, offers a comprehensive exploration of creating and maintaining a resilient financial legacy. Across 9 episodes, experts delve into crucial topics like the fundamental concepts of legacy planning, estate assessment, tax complexities, and business succession strategies. The series also covers philanthropy, the balancing of inheritance, and the responsibilities of inheritance recipients. Each episode emphasizes the importance of early, strategic planning and the vital role of collaboration with professional advisors to ensure a legacy that meets financial goals and honours personal and family values.

Episodes:

**Episode features Brad Giroux , Vice President of DJB Wealth Management Inc.

Summary of Each Episode:

Setting the Stage. Mike introduces the concept of legacy planning, emphasizing its importance in leaving a lasting impact beyond financial assets. Gord and Oliver contribute insights into legacy’s multifaceted nature, stressing its role in ensuring financial security and preserving familial harmony. They highlight the importance of comprehensive financial planning and the indispensable guidance of financial advisors in navigating this complex process. (Approximately 17 minutes).

Assessing your Estate. This episode delves into the critical task of assessing one’s estate. Mike and Gord clarify the concept of an estate, stressing the necessity of valuation and the involvement of professionals like financial planners, accountants, and lawyers. They underscore the importance of regular estate assessments to facilitate ease of settlement, debt management, and fulfilling beneficiaries’ needs. (Approximately 7 minutes).

Crafting your Legacy Blueprint. Mike and Gord explore the intricate considerations and goals of crafting a comprehensive legacy blueprint. They discuss the importance of aligning parental visions and understanding individual needs, particularly regarding the distribution of assets among children. Gord emphasizes the need for professional guidance in navigating taxation, inheritance, and business succession, underscoring the complexity of legacy planning. (Approximately 22 minutes).

Unraveling Tax Complexities. Episode four of our Echoes Series delves into the complexities of legacy planning and taxation. Hosted by Mike Gassewitz of TriCert Financial Group, guests Dylan Domanico and Oliver Lee discuss strategies to manage tax burdens and the collaborative approach involving CPAs and financial professionals. This episode provides essential insights for anyone looking to secure their financial future and plan effectively. (Approximately 14 minutes).

Philanthropy & Generosity. In this episode of our Echoes Series on Legacy Planning, experts Dylan Domanico and Oliver Lee discuss enhancing philanthropic impact and gaining tax advantages through strategic charitable giving. They cover methods like cash gifts, in-kind donations, and life insurance to optimize donations. This episode offers insights into integrating charitable giving into your legacy planning effectively. (Approximately 15 minutes).

Balancing Inheritance. This episode of Echoes, discusses legacy planning complexities, including asset distribution and rising values. Experts Oliver Lee and Gord Hardie explore strategies for fair, risk-adjusted allocations and stress the importance of early, collaborative planning with professionals like CPAs and financial planners, to secure a harmonious and tax-efficient legacy. (Approximately 16 minutes).

Business Continuity Strategies. Mike Gassewitz and Connor Gates emphasize the importance of early business succession planning. They discuss strategic preparations for a significant upcoming wealth transfer, highlighting the roles of key family members and professionals in ensuring a smooth transition. (Approximately 14 minutes).

Ensuring your Legacy Lives on. Mike Gassewitz, Brad Giroux, and Gord Hardie explore effective legacy documentation and communication, introducing EstateKeeper to aid in managing estate documents and preventing family conflicts. (Approximately 25 minutes).

Receiving the Torch. This episode addresses the responsibilities of inheritance recipients, offering guidance on wealth management, debt clearance, and charitable contributions. It underscores the importance of thoughtful planning and consulting with financial advisors to navigate potential tax implications. (Approximately 11 minutes).

Speaker Profiles

Gord Hardie, CFP®, CIM

Gord joined TriCert Private Wealth in 2010 to build and lead the financial planning team. As Vice President, Financial Planning, Gord is responsible for managing the team, developing financial planning strategy for the organization, as well as providing comprehensive financial plans for clients. Throughout his career, Gord has attained several licences and accreditations from various governing financial service bodies. Gord holds designations as a Certified Financial Planner (CFP®) and Canadian Investment Manager (CIM). Gord began his career in wealth management in 1992 and has worked at various national financial services firms as both a Senior Financial Consultant and a Regional Manager.

Oliver Lee, BMath

Oliver’s goal as VP of Life Insurance and Living Benefits at TriCert Insurance Agency is to bring his experience and knowledge on life insurance and living benefits to our clients by offering unbiased and professional advice.