Today, June 16, my son turned 18! I am truly proud of the man he has become; level-headed, focused and genuinely kind. But I am also shocked how quickly time has passed. It seems like it was only yesterday that we were anxiously getting ready for his arrival. Many worried nights, happy days, proud moments and tired mornings later and our little man is now an actual man.
I had the privilege at the time, leading up to his birth, to be working with Richard Bradford and had the benefit of some really great financial advice. Prior to the birth we underwent a robust financial needs analysis to help both me and my wife understand the financial implications to our family in the event of a sickness, disability, or early death. We implemented an insurance plan that included life, disability, and critical illness coverage. We also created our first estate plan - we enacted our Wills, Enduring Powers of Attorney and Personal Directives.
It was somewhat ironic, that I was well into my financial advisory career at that time, deep in study-mode for my CFP designation and working with clients every day, and it took a major life event for me and my wife to prioritize our own financial future and spend some time on understanding how to protect our family’s financial future.
18 years later, I have the privilege to continue to work with many of the same client families, and am proud to carry on the legacy the Richard built as LifeLegacy Wealth Management Inc. The transition of the ownership of LifeLegacy this past year was another life event that prompted me to reconsider my family’s estate plan and insurance needs. Product offerings have changed, as have my family’s needs. A review was necessary and worthwhile.
I share this not to air my private affairs, but to perhaps prompt you to consider if things have changed in your own family. Time passes by quickly and each of our financial and health situations change along with the passing of time. Should you review your estate plan? Have your needs changed?
The Pandemic (which hopefully is near an end) has been a major life event for many people. Manulife released the results of a recent survey, finding out what is on Canadians’ minds.