So, You’re an Executor – What are Your Duties and Liabilities?
Chapter Seven of Preserving Wealth. For your FREE Copy of Preserving Wealth, CLICK HERE The first three days of our vacation were perfect. The temperature was near thirty degrees, with just enough of a breeze for windsurfing. The kids were behaving, and all seemed right with the world. Sally was at the cottage this week, […]
The Four Essential Family Conversations
Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® Based on my experience of helping many families over the years, I have found that there are four essential conversations that families should be having concerning their financial and estate plans. They are: The Estate Documents Conversation The Eldercare Conversation The […]
Retirement Income Planning
In a recent conversation, I was asked if there are any advantages to consolidate their investments and financial advisors as they approach retirement.
Who Should You Name As Executor?
Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® A common question I received as an advisor is whom should we name as executor in our Wills? The true answer is that it depends on your situation. It usually ends up based on how complicated your estate may be, the […]
“Why Being ‘Less Wrong’ Might Be the Best Plan”
Ever feel like your financial plan has to be perfect? It doesn’t. In fact, trying to make it perfect can actually hold you back. I recently had the chance to speak with Carl Richards, author of the new book Your “Money: Reimaging Wealth in 101 Simple Sketches” — and one idea from our conversation really […]
Game Plan Strategy: August Financial Checklist
This Month’s Focus: Are These Really Your Top Financial Goals? If I asked you to name your top 3 financial goals, what would you say? Most people can answer pretty quickly. But here’s something interesting: When given a broader list of goals to look at first, 73% of people changed their answers. It’s not that […]
Questions to Ask When Interviewing a Financial Planner
Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® Deciding on which financial planner to hire is a particularly important decision for families to make. The following are key questions that FP Canada has designed to help in the selection process. How to Interview a Financial Planner Financial planners can […]
Three of our Best Insights for July
Our Monthly 3-2-1- Newsletter RESOURCE: Preserving Wealth: Chapter One, What are the 7 Key Lessons for Inheritance and Financial Planning? In the first chapter of Preserving Wealth for the Next Generation, we are introduced to a family gathering at their father’s summer cottage in Honey Harbour. It’s the opening weekend of summer, but it’s filled with […]
What are the Different Investment Classes?
Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® Before you invest your money, you should understand what the actual investment is. The following passage describes the three basic investment classes. Alice had listened politely but was clearly getting impatient. “So, Uncle Wayne, you know our situations. What should we […]
What is the Process Once you Hire a Financial Advisor?
Excerpts from the Book – Preserving Wealth – written by Jack Lumsden, MBA, CFP® I was speaking to someone on the phone a couple of weeks ago, and the question they asked was “what is the process after we hire a financial advisor?”. This is a very important question to have answered, and the response […]