Three key takeaways from our financial planning & legacy planning webinar

Planning for the future is about more than just numbers; it’s about aligning your financial decisions with your values, your loved ones, and the legacy you want to leave behind. In our recent webinar, experts Janice Domaratzki (RBC Wealth Management) and Pierre Tomiczek (Experior Financial Group) shared practical strategies to help Canadians take control of their financial futures and end-of-life plans. You can view their presentation deck below. Whether you joined us on the webinar or are catching up now, here are three essential insights to carry forward.

Please note the information provided is for education purposes and cannot be interpreted as financial or taxation advice. Please consult the appropriate professionals. 

Key takeaway #1

Smart planning can reduce taxes and increase impact 
Canada’s tax system is complex, but with the right strategies, you can reduce your tax burden and make your money go further. Tools like RRSPs, TFSAs, and income splitting between spouses can help lower your taxable income today and in retirement. Planning ahead also means understanding how taxes apply at death, such as the deemed disposition of assets, and how to minimize those costs through thoughtful estate planning. The result? More of your hard-earned wealth stays with the people and causes that matter most to you. 

Key takeaway #2

Charitable giving is a win-win strategy 
Giving back doesn’t just feel good, it can also be a powerful financial planning tool. Whether through gifts of cash, securities, or naming a charity as a beneficiary of your RRSP, RRIF, or life insurance policy, charitable donations can significantly reduce taxes owed in your lifetime or by your estate. In some cases, a well-timed donation can nearly eliminate the tax bill on your final return. These strategies allow you to support the values and organizations you care about while maximizing the impact of your legacy. 

Key takeaway #3

A personalized estate plan protects your wishes
An estate plan is more than a Will, it’s a roadmap for how you want your affairs handled if you become incapacitated or pass away. Key documents like Powers of Attorney, a Health Care Directive, and a digital record keeper ensure your wishes are known and respected. For those with blended families or complex situations, planning ahead can prevent misunderstandings and ensure fair distribution of assets. The earlier you start, the more options you have to shape your legacy with intention. 

Looking ahead

Legacy planning is deeply personal, but it doesn’t have to be overwhelming. With the right guidance and a bit of foresight, you can create a plan that reflects your values, supports your loved ones, and leaves a lasting mark on the world. If you’re inspired to take the next step, consider speaking with a financial advisor or estate planning professional to explore your options.  

We hope you find information from our recent webinar helpful. Thanks to the generosity of our supporters, we can provide webinars like this – and all our quality and compassionate services – 100% free of charge to people across Canada. Thank you for your support.

Links to further reading

• Building Your Legacy: Financial Planning
• Corporate executor services
• Estate planning for blended families
• Estate planning: Your estate record keeper
• Income taxes at death
• Ten strategies to build and protect your family’s wealth
• Testamentary trusts