Home Breadcrumb caret Tax Breadcrumb caret Estate Planning Your clients will inherit $100,000 Are you preparing your clients to handle their inheritances responsibly? By Staff | July 8, 2014 | Last updated on July 8, 2014 1 min read Are you preparing your clients to handle their inheritances responsibly? As Canada goes through the biggest inter-generational transfer of wealth in history – approximately $1 trillion dollars over the next two decades – a BMO study indicates the average inheritance in Canada is just under $100,000. Read: When your client wants to change beneficiaries The study also indicates 63% believe they will receive an inheritance. Those surveyed say they’d use an inheritance for: Investing for key life events (91%); Reducing debt (79%); Traveling (78%); Buying things they need (78%) Helping other family members or friends with major life events (75%) Donating to charitable causes (63%) Receiving an inheritance is a great time to re-evaluate investment objectives, says Julie Barker-Merz, president, BMO InvestorLine, whether it’s saving for a child’s university tuition, working towards buying a house or building your retirement nest-egg. The study also revealed 75% of people feel it is important to provide an inheritance for loved ones. These articles will help you prepare your clients’ estates: Are women more charitable than men? Avoid these celebrity estate planning mistakes Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo