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Canadian inheritances could hit $1 trillion over the next decade and both bequeathers and beneficiaries need to be ready


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Estimates of expected Canadian inheritances over the next decade are as high as $1 trillion. Stock markets, real estate prices and other factors will significantly impact the actual number. Regardless, we are entering an age of unprecedented wealth transfer for parents and children, and there are complexities for those both leaving and receiving inheritances.
Some seniors feel they need to leave an inheritance. According to a 2019 survey by Merrill Lynch and Age Wave, 47 per cent of respondents aged 55 and older said leaving an inheritance was “the right thing to do” for their children. Fifty-five per cent of millennials, meanwhile said “it’s a parent’s obligation” to leave an inheritance. The generation that most of the millennials’ parents belong to the baby boomers partially agree; 36 per cent of boomers felt that an inheritance is a parent’s obligation. ....

Jason Heath , Merrill Lynch , Chloe Cushman National , Financial Partners Inc , National Post , Age Wave , Education Savings Plan , Registered Retirement Income Funds , Tax Free Savings Accounts , Certified Financial Planner , Objective Financial Partners , ஜேசன் ஹீத் , மெரில் லிஞ்ச் , சோலி குஷ்மேன் தேசிய , நிதி கூட்டாளர்கள் இன்க் , தேசிய போஸ்ட் , வாழ்நாள் அலை , கல்வி சேமிப்பு திட்டம் , பதிவுசெய்யப்பட்டது ஓய்வு வருமானம் நிதி , வரி இலவசம் சேமிப்பு கணக்குகள் , சிஇஆர்டிஐஎஃப்ஐஇடி நிதி திட்டமிடுபவர் , புறநிலை நிதி கூட்டாளர்கள் ,