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Originally Posted by CliffFletcher
The life expectancy of women in Canada who reach 65 is 87. Unless those inheritances are in the form of living wills, people typically won’t get them until they’re well into their 50s. So the wealth transfer will largely fund retirements. Lifespans are getting so long that it’s becoming increasingly common for two generations of retirees to live in the same household.
People who write these articles seem to have forgotten about the Silent Generation (born 1925 to 1945). Still lots of them around.
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What do you mean by living will? Personal Directives (formerly living wills) deal only with personal and medical agency.
The oldest boomers are entering their 80s.
Here is the CPA article:
https://www.cpacanada.ca/news/pivot-...le-down-wealth
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it’s true that the majority of wealth in Canada is held by a relatively small number of families, and a massive wave of wealth transfer could exacerbate that problem by fortifying existing imbalances. At the end of 2022, the wealthiest families in Canada (the top 20 per cent) accounted for two-thirds of the country’s net worth—the bottom 40 per cent accounted for just 2.6 per cent.
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It was not unusual for us to probate estates in Calgary worth $1-2 Million, typically to 2-3 children. The average farm in SK is valued at $3 million.