Family Wealth Protection
Protect What's Important
Tailored strategies to protect your family’s well being
Life Insurance
Protect your family’s future with our tailored life insurance plans. Secure peace of mind.
Disability Insurance
Ensure your family’s security with disability insurance and safeguard your lifestyle.
Critical Illness
Cover your family against critical illnesses. Secure their health and future with confidence.
Health & Dental
Keep your family healthy and smiling with our comprehensive health and dental plans.
TFSA
Open a family TFSA now: save, grow wealth, and secure your future tax-free.
RRSPs
Invest in a family RRSP to secure retirement funds with deductible contributions.
RESPs
Tailored solutions to invest in your child’s education with tax-free growth.
Personal Pension
Convert savings to guaranteed income: Explore high interest annuities.
Wealth Protection
Don't Let Everything You've Created Implode
Wealth preservation can often be even more difficult than wealth creation. Preserving your legacy requires you to think about issues including potential misguided extravagance, professional liabilities and key person risks, amongst others.
We recognize the importance of ensuring the wealth of clients is preserved and seamlessly passed on to their loved ones. Lack of know-how and failing to plan inheritance may lead to troublesome transmission of wealth to the families of clients.
Tax Planning
Taxes are a critical consideration that impact every aspect of your financial life. Implement integrated sophisticated tax strategies beyond those of your accountacts to help manage the complexities of your wealth and ensure your overall plan is tax-efficient.
Legacy Planning
Legacy planning ensures your assets and values are passed on to the people and causes you care about after you’re gone. At Powell & Partners Wealth Management, we help you organize your finances, property, and personal wishes in a clear way. This process involves setting up wills, trusts, and other legal documents to ensure your legacy is managed exactly how you want.
Family Equalization
Family equalization through insurance plans is about creating a balanced and fair distribution of assets among family members, especially when the assets cannot be easily divided. This strategy ensures that all family members are treated equitably, even if the majority of the estate consists of illiquid assets like a family business or real estate.
By using insurance, families can provide liquidity to beneficiaries who might not be involved in the family business or those who would prefer cash over physical assets. This approach avoids the need to sell cherished assets or the business to divide the estate equally among heirs, preserving the legacy and maintaining family harmony.
Cascading Insurance Plans
Cascading insurance is a strategic approach to financial planning that ensures every generation of a family—grandparents, parents, and children—benefits from financial security and wealth transfer.
This method involves structuring insurance policies in such a way that the benefits cascade down through the generations, providing a safety net and financial resources at each level. For grandparents, it offers a way to pass on wealth efficiently and tax-effectively to their children. For parents, it acts as a tool not only for receiving inheritance but also for securing their own future and that of their children.
