As we age and accumulate wealth, our mindset often shifts from growth to preservation, not just of our financial assets, but of our legacy. If you’ve reached a point in your life where your investments comfortably cover your lifestyle and your estate is projected to outlast you, the next most responsible financial decision is planning the seamless and successful transfer of your wealth.

You may be in what some call the "seventh inning" of life, grateful for what you've built, but increasingly aware of the need to ensure your affairs are in order. You’ve worked hard to create wealth. Now, it's time to take three essential steps to protect it, direct it, and pass it on with intention.

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Step 1: Review Your Will and Estate Plan

Don't assume your family will “just figure it out.” One of the most common things we hear from clients is:

• “My family gets along great, there won’t be any problems.”

• “Why worry? I won’t be here anyway.”

But here’s the truth: Your wealth will be distributed no matter what, it’s just a matter of who benefits and whether your wishes are respected.

When a will is outdated or absent, unintended consequences often follow. Your wealth could end up being redirected to unintended stakeholders such as the government (in taxes), lawyers, or even people you didn’t intend to benefit. The more organized you are, the greater the likelihood that your estate will be executed in line with your true intentions.

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Key Questions to Consider:

• Have you established trusts? Should you?
  Trusts can help you control how and when your assets are distributed. They’re especially useful for protecting beneficiaries from creditors, relationship breakdowns, or inexperience with money. If you want to provide structure, tax efficiency, or long-term control over family wealth, a trust may be appropriate.
• What portion of your wealth is going to children, grandchildren, or charitable causes?
  Now is the time to clarify your intentions. Be specific. Outline exact percentages or dollar amounts, and consider the timing—outright vs. staged distributions. If philanthropy is important to you, charitable giving strategies can reduce your tax bill while supporting causes you care about.
• Are your children prepared to manage this wealth? Should there be protections in place to preserve family assets?
  Not all heirs are equally financially literate or prepared. Consider whether inheritances should be protected through trusts, staggered payments, or professional oversight. This can help ensure your wealth remains a blessing, not a burden.
• What does your estate’s tax liability look like, and how can it be minimized?
  Planning for taxes is critical. Without proactive strategies, a significant portion of your estate could go to the CRA. Tools like trusts, charitable donations, insurance, and corporate planning can all reduce your tax bill and preserve more for your loved ones.

These aren’t just legal or financial decisions: they’re reflections of your values, your legacy, and your commitment to family harmony.

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Step 2: Review and Simplify Your Investments and Financial Structure

This is often the most overlooked step, but one that can have major implications for your executor and heirs. Over time, most investors accumulate a wide range of accounts and holdings. Consolidating and simplifying your financial structure can make your estate significantly easier to manage.

Action Items:

• Consolidate accounts where possible, especially if you have a spouse. Multiple RRSPs, TFSAs, and brokerage accounts can create confusion.
• Eliminate peripheral or illiquid investments, such as private holdings lacking a clear exit strategy or assets intended to be sold at death.
• Review your asset mix. Not all of your current investments need to serve your own income needs anymore. Begin thinking about them in the context of your beneficiaries.
• Simplify corporate structures. If you have personal corporations, consider winding them down in a tax-efficient manner. This often takes years of careful planning. Don’t delay.
• Start managing your tax position aggressively. If your estate faces large tax liabilities at death (such as deemed disposition of capital assets), you need to start planning now. Options may include gifting, insurance, or trust strategic

Tip: This is also a great time to involve your beneficiaries in the planning process. A transfer of wealth is one thing; a successful and seamless transfer of wealth, free of confusion, resentment, or conflict, is another entirely.

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Step 3: Don’t Leave a Mess Behind

Unless you're trying to punish your executor or family, don't leave behind a disorganized estate. Even the most harmonious families can be torn apart by the emotional strain and financial confusion that follows a poorly planned transfer of wealth.

We often hear, “My kids will figure it out. They get along fine.” But when grief, stress, and money collide, even the best of relationships can fracture.

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The Cost of Procrastination:

• Minor issues can spiral into major disputes
• Trust can erode over misunderstandings
• Good intentions are often replaced with frustration and legal battles

In the absence of clarity and structure, emotions take over. What you intended as a gift can become a source of division. That’s why planning isn’t just a financial exercise, it’s an act of love.

Make It a Seamless and Successful Transfer

At Matco Financial, our Wealth Program is designed to help you create a comprehensive and collaborative estate strategy. We work in partnership with your legal and tax advisors to ensure your financial plan integrates seamlessly with your estate documents.

Whether it’s updating your will, exploring trust options, simplifying your investment structure, or preparing your family for stewardship, we provide guidance and peace of mind every step of the way.

Ready to take the next step?

Reach out to our team for a complimentary consultation. Let’s work together to protect your legacy and ensure your wealth does more than survive you, it carries your values forward for generations to come.