As a high net worth individual in Canada, it’s important to think about how you can pass on your wealth to future generations. Whether you’re a real estate investor or business owner, ensuring that your family is taken care of in the long run is crucial. Here are some tips on how to successfully transfer intergenerational wealth:

1. Start early:
   The earlier you start planning for the transfer of wealth, the better. This gives you time to properly structure your assets and develop a plan that works for you and your family.

2. Consider trusts:
   Trusts can be a useful tool for transferring wealth, as they allow you to control how your assets are distributed even after you’re gone. A trust can also provide tax benefits and protect your assets from creditors.

3. Work with professionals:
   A wealth transfer plan can be complex, so it’s important to work with professionals who have experience in this area. This may include lawyers, accountants, and financial advisors who can help you create a plan that addresses your unique needs.

4. Communicate with your family:
   It’s important to communicate your wealth transfer plan with your family so that they understand your wishes and can work together to achieve your goals.

5. Consider philanthropy:
   Charitable giving can be a great way to transfer wealth while also making a positive impact on society. By establishing a foundation or donating to charity, you can leave a lasting legacy that benefits others.

In summary, transferring intergenerational wealth requires careful planning and execution. By starting early, considering trusts, working with professionals, communicating with your family and considering philanthropy, you can successfully pass on your wealth to future generations. As a UHNW Canadian family, real estate investor or business owner, it’s important to prioritize this aspect of your financial planning to ensure your legacy lives on.