Latest news with #KelleyKeehn
Toronto Sun
21-05-2025
- Business
- Toronto Sun
Most Canadian parents expect they won't be able to leave inheritance: Survey
A new Canadian study by Money Wise Institute found that 57% of parents expect to spend most of their wealth during their lifetime. Photo by Getty Images / (illustration) A new Canadian study by Money Wise Institute found that 57% of parents expect to spend most of their wealth during their lifetime. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The survey also said about 80% of Canadian parents believe the rising cost of living is the biggest risk to them leaving an inheritance, while 22% of parents felt guilty about prioritizing their financial security over a legacy. Meanwhile, 55% of millennials and gen-Zers expected to receive an inheritance. A quarter agreed with the statement, 'If I don't receive an inheritance, it will impact my financial plans,' while a third felt financially unprepared to manage an inheritance 'We're seeing a quiet collision of assumptions,' Kelley Keehn, CEO of Money Wise Institute, said in a statement. 'Parents are dealing with rising costs and personal financial uncertainty, while the next generation of Canadians are quietly counting on wealth that may never come. The result isn't just tension — it's a breakdown of trust, planning and emotional connection.' Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. The survey found 80% of parents said they planned to leave an inheritance, but 52% had not talked with their children about it and 28% were worried that their children won't responsibly manage their inheritance. The study showed that 45% of millennials and gen-Zers felt that 'if one sibling received significant financial support already, they should inherit less,' while 19% of millennials and gen-Z respondents already had disagreements with a sibling about financial fairness. The research found 35% of parents had told their heirs they may receive less than expected, 25% of parents had gifted unequally based on need and 18% of parents were concerned their wealth distribution would cause a family conflict. This advertisement has not loaded yet, but your article continues below. The poll found 16% of parents had provided financial gifts to one child but not others and 13% of parents had gifted unequally because one child was more responsible. This survey was conducted by Money Wise Institute from March 25 to March 27 among 1,510 online Canadians in English and French. For comparison purposes only, a probability sample of this size would carry a margin of error of plus or minus 2.5 percentage points, 19 times out of 20. Read More Toronto Maple Leafs Canada Toronto Maple Leafs Canada Golf
Hamilton Spectator
21-05-2025
- Business
- Hamilton Spectator
Cost of Living now the top threat to inheritance plans, Canadian study finds
TORONTO, May 21, 2025 (GLOBE NEWSWIRE) — A new national study by the Money Wise Institute reveals rising economic pressure, mismatched expectations, and a widespread failure to use basic legacy planning tools—putting Canadian families at financial and emotional risk. The research comes on the heels of the April Money Wise report that found a growing communication gap within Canadian families regarding inheritance. Among the most striking findings in today's report: 'We're seeing a quiet collision of assumptions,' said Kelley Keehn, CEO of Money Wise Institute. 'Parents are dealing with rising costs and personal financial uncertainty, while the next generation of Canadians are quietly counting on wealth that may never come. The result isn't just tension—it's a breakdown of trust, planning, and emotional connection.' In April's launch of The Age of Broken Conversations , research uncovered a widespread communication gap within families. Four-in-five parents said they planned to leave an inheritance, but 52% had not talked with their children about it. In the weeks since, more families are beginning to confront the reality of wealth transfer—but not always with clarity. Managing expectations and sibling disputes Almost three-in-10 parents (28%) worry that their children won't responsibly manage their inheritance. And that is just one of several factors that may cause money disputes among siblings. 'What concerns me most is that six-in-10 parents haven't explored financial tools—like life insurance or structured trusts —that could help preserve wealth and prevent such family conflict,' said Keehn. 'In many cases, the legacy itself isn't the risk—it's the lack of structure around it that puts families in a vulnerable position.' 'That's why it's so essential to work with a qualified financial professional—someone who can guide families through these conversations and help build a plan that protects both relationships and long-term financial goals.' Navigating emotionally charged conversations 'We often say inheritance isn't just about money—it's about meaning,' says Gary Teelucksingh, Co-Founder of Money Wise Institute and former global financial services CEO. 'But in the absence of structure or planning, even good intentions can create conflict. The reality is that many financial professionals haven't been trained to navigate these emotionally charged conversations. This is a moment for advisors to step in not just with technical solutions, but with empathy and clarity—helping families protect both their wealth and their relationships.' The research comes as families continue to navigate inflation, market volatility, and an ongoing threat of tariffs—pressures that are reshaping long-held assumptions about legacy, security, and responsibility. About the Research: These findings are from The Age of Broken Conversations , a survey conducted by Money Wise Institute from March 25th to March 27th, 2025, among a representative sample of 1,510 online Canadians who are members of the Angus Reid Forum. The survey was conducted in English and French. For comparison purposes only, a probability sample of this size would carry a margin of error of +/-2.5 percentage points, 19 times out of 20. About Money Wise Institute Money Wise Institute, co-founded by Kelley Keehn and Gary Teelucksingh, equips financial institutions and their teams with the training, tools, and research to help guide clients through life's most emotionally complex money moments. Through accredited education, original studies, and advisor/client engagement strategies, MWI helps modernize how the financial industry prepares for—and protects—intergenerational wealth. Visit the Money Wise website here: Money Wise Institute | Enhance Financial Growth . For interview requests, media assets, or a copy of the full report, please contact: Julia Koichopolos Maverick PR 416-938-2882 julia@
Yahoo
01-03-2025
- Business
- Yahoo
Frustrated filling out tax forms? FP Video talks to the experts
With tax season underway, FP video guests have some tips on filing your 2024 income taxes, and how U.S. President Donald Trump's tariff threats might impact Canadian banks. Kelley Keehn, co-founder of Money Wise Workplaces, walks you through getting organized for this year's tax season. Tax expert Jamie Golombek, managing director of tax and estate planning at CIBC Private Wealth Management, fills us in on what is new this year. Canada's biggest banks have made adjustments as they prepare for potential tariffs from President Trump, including creating a monetary cushion, a spending pause and calling for a deregulation head to cut red tape. Pipeline no longer a pipe-dream? FP Video examines Avoid these common mistakes at tax time How will U.S. tariffs impact Canada's banks?
