Latest news with #ChristineVanCauwenberghe
Winnipeg Free Press
4 days ago
- Business
- Winnipeg Free Press
Sponsored Content Preparing for the future: The importance of estate planning
Canada is currently undergoing the largest intergenerational wealth transfer in history, but more than half of us aren't ready. A recent study by IG Wealth Management (IG) uncovered that 54 per cent of Canadians don't have an estate plan, leaving them and their loved ones unprepared for carrying out final wishes. A well-crafted estate plan offers peace of mind by preparing for potential incapacity later in life and ensuring that your assets are distributed according to your wishes. It can also help reduce any tax burden on your beneficiaries. Key components to include in an estate plan include a will, healthcare directive, naming beneficiaries, purchasing life insurance and designating a power of attorney. 'It's understandable that Canadians want to avoid thinking and speaking about death, but having these difficult conversations now and ensuring that a comprehensive plan is in place will make it easier in the future, both for yourself and your loved ones,' said Christine Van Cauwenberghe, Head of Financial Planning at IG Wealth Management. Understanding an estate plan Canadians have noted that the main reason why they haven't prepared an estate plan is because they don't think they have enough wealth to make having one worthwhile. They're also unfamiliar with key aspects related to estate planning, with approximately half saying they're not knowledgeable about the tax considerations associated with passing along an estate, the benefits of having life insurance and the consequences of not having a will or power of attorney. 'It's concerning that so many Canadians are unfamiliar with key components that make up an estate plan,' said Ms. Van Cauwenberghe. 'Take, for instance, the lack of knowledge around taxation. The reality is that passing down assets can often result in a significant tax burden and Canadians should be well-versed on the strategies to help offset these costs.' Preparing for cognitive decline An estate plan is also needed in case of cognitive decline. Conditions like Alzheimer's disease can impact one's ability to make decisions around their wealth and assets. There can also often be significant costs related to living with cognitive decline. Just one quarter have planned for any possible expenses related to cognitive decline. In addition, only one-third per cent have made plans for what will happen to their assets and just under 40 per cent have made plans for who will manage their finances. 'Cognitive decline can happen to anyone at any time, so it's a good idea for Canadians to seek out the assistance of a financial advisor who can help them build a thoughtfully crafted estate plan that takes this into account,' reinforced Ms. Van Cauwenberghe. Start with a plan For more on how to build an estate plan that meets your needs, listen to a special edition of IG Wealth Management's The Living Market podcast hosted by Aurèle Courcelles, Vice-President, Tax & Estate Planning at IG Wealth Management with Dan Britton, Assistant Vice-President, Tax & Estate Planning at IG Wealth Management: The Living Market Podcast | IG Wealth Management
Cision Canada
21-05-2025
- Business
- Cision Canada
IG Wealth Management Estate Planning Study: Despite Historic Intergenerational Wealth Transfer, Majority of Canadians Lack an Estate Plan Français
More than half of Canadians currently lack an estate plan Top reason cited for not having an estate plan is the feeling of lack of sufficient personal wealth Just four-in-ten Canadians have made plans to safeguard their financial future in the event of cognitive decline WINNIPEG, MB, May 21, 2025 /CNW/ - According to IG Wealth Management's annual estate planning study, more than half (54 per cent) of Canadians currently lack an estate plan, despite the fact that our country is undergoing a historic $1 trillion intergenerational wealth transfer. An estate plan includes components such as a will, naming beneficiaries, personal life insurance, a healthcare directive and designating a power of attorney. "It's concerning that a majority of Canadians are unprepared for their future," said Christine Van Cauwenberghe, Head of Financial Planning at IG Wealth Management. "A properly constructed estate plan can help ensure that you're prepared for your passing and that your wealth is distributed according to your wishes in a tax-efficient manner — and this goes for all Canadians, regardless of their net worth. This is especially critical as we navigate the greatest wealth transfer in Canadian history." The study, conducted in partnership with Pollara Strategic Insights, also found that: Many Canadians are unfamiliar with key aspects relating to estate planning; about half (55 per cent) say they are not knowledgeable about tax considerations, the benefits of having life insurance (47 per cent), the consequences of not having a will (47 per cent) or power of attorney (44 per cent). The top reason cited for not having an estate plan is lack of sufficient personal wealth (29 per cent), followed by the feeling of being too young to have an estate plan (14 per cent) and the cost of creating one (13 per cent). An Estate Plan Must Address Cognitive Decline A key aspect of estate planning must involve preparing for potential neurological impairment. However, the study found that just 40 per cent have legal documents in place to safeguard their financial future in the event they are diagnosed with cognitive decline. Further, should cognitive decline occur, only 37 per cent have made plans for what will happen to their assets and just 39 per cent have made plans for who will manage their finances. "Conditions like Alzheimer's disease and other forms of dementia can affect anyone at any time, and many underestimate their associated costs," added Ms. Van Cauwenberghe. "We help our clients build a comprehensive and synergistic estate plan that builds in the possibility of cognitive impairment, so nothing is left to chance. As advisors, it's our responsibility to help our clients achieve financial well-being and are well prepared for anything that may come their way." About the Pollara Study This research was conducted by Pollara Strategic Insights, using an online survey conducted with 1,017 adult Canadians from April 10 th to 21 st, 2025. Results from a random sample of this size can be considered accurate to within ±3.1% 19 times out of 20. Results have been weighted by gender, age and region, using the latest census data, to be representative of the population as a whole. About IG Wealth Management Founded in 1926, IG Wealth Management ("IG") is a Canadian leader in delivering financial planning with approximately $139 billion in assets under advisement as of April 30, 2025. For more than 95 years, IG has been focused on improving the financial well-being of Canadians so they can confidently embrace all of life's possibilities. Through a network of advisors located across the country, IG provides approximately one million clients with personalized advice, comprehensive financial planning, insurance and mortgage services and professionally managed investment solutions. IG is a member of IGM Financial Inc. (TSX: IGM), part of the Power Corporation group of companies and one of Canada's leading diversified wealth and asset management organizations with approximately $270 billion in total assets under management and advisement as of April 30, 2025. For more information, visit
Yahoo
21-05-2025
- Business
- Yahoo
IG Wealth Management Estate Planning Study: Despite Historic Intergenerational Wealth Transfer, Majority of Canadians Lack an Estate Plan
More than half of Canadians currently lack an estate plan Top reason cited for not having an estate plan is the feeling of lack of sufficient personal wealth Just four-in-ten Canadians have made plans to safeguard their financial future in the event of cognitive decline WINNIPEG, MB, May 21, 2025 /CNW/ - According to IG Wealth Management's annual estate planning study, more than half (54 per cent) of Canadians currently lack an estate plan, despite the fact that our country is undergoing a historic $1 trillion intergenerational wealth transfer. An estate plan includes components such as a will, naming beneficiaries, personal life insurance, a healthcare directive and designating a power of attorney. "It's concerning that a majority of Canadians are unprepared for their future," said Christine Van Cauwenberghe, Head of Financial Planning at IG Wealth Management. "A properly constructed estate plan can help ensure that you're prepared for your passing and that your wealth is distributed according to your wishes in a tax-efficient manner — and this goes for all Canadians, regardless of their net worth. This is especially critical as we navigate the greatest wealth transfer in Canadian history." The study, conducted in partnership with Pollara Strategic Insights, also found that: Many Canadians are unfamiliar with key aspects relating to estate planning; about half (55 per cent) say they are not knowledgeable about tax considerations, the benefits of having life insurance (47 per cent), the consequences of not having a will (47 per cent) or power of attorney (44 per cent). The top reason cited for not having an estate plan is lack of sufficient personal wealth (29 per cent), followed by the feeling of being too young to have an estate plan (14 per cent) and the cost of creating one (13 per cent). An Estate Plan Must Address Cognitive DeclineA key aspect of estate planning must involve preparing for potential neurological impairment. However, the study found that just 40 per cent have legal documents in place to safeguard their financial future in the event they are diagnosed with cognitive decline. Further, should cognitive decline occur, only 37 per cent have made plans for what will happen to their assets and just 39 per cent have made plans for who will manage their finances. "Conditions like Alzheimer's disease and other forms of dementia can affect anyone at any time, and many underestimate their associated costs," added Ms. Van Cauwenberghe. "We help our clients build a comprehensive and synergistic estate plan that builds in the possibility of cognitive impairment, so nothing is left to chance. As advisors, it's our responsibility to help our clients achieve financial well-being and are well prepared for anything that may come their way." About the Pollara Study This research was conducted by Pollara Strategic Insights, using an online survey conducted with 1,017 adult Canadians from April 10th to 21st, 2025. Results from a random sample of this size can be considered accurate to within ±3.1% 19 times out of 20. Results have been weighted by gender, age and region, using the latest census data, to be representative of the population as a whole. About IG Wealth ManagementFounded in 1926, IG Wealth Management ("IG") is a Canadian leader in delivering financial planning with approximately $139 billion in assets under advisement as of April 30, 2025. For more than 95 years, IG has been focused on improving the financial well-being of Canadians so they can confidently embrace all of life's possibilities. Through a network of advisors located across the country, IG provides approximately one million clients with personalized advice, comprehensive financial planning, insurance and mortgage services and professionally managed investment solutions. IG is a member of IGM Financial Inc. (TSX: IGM), part of the Power Corporation group of companies and one of Canada's leading diversified wealth and asset management organizations with approximately $270 billion in total assets under management and advisement as of April 30, 2025. For more information, visit SOURCE IG Wealth Management View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
