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Legacy Planning and Passing Down Wealth

By Devon Ethier, CFP®, MBA,

Investment Advisor, iA Private Wealth Inc.

Investing is not just about the present; it's about the legacy you create for future generations. In this article, we will delve into the realm of legacy planning, exploring how your investment strategies can pave the way for a lasting impact on your family's financial future.

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The Importance of Legacy Planning

What is Legacy Planning?

Legacy planning is the process of strategically managing your wealth and assets to ensure they are preserved and passed down to future generations. It involves more than just financial considerations; it encompasses your values, goals, and the impact you wish to leave on your family and community.

Key Elements of Legacy Planning

1. Define Your Legacy

Begin by clarifying your values, goals, and the principles you want to instill in your family. What do you want to be remembered for, and what impact do you want your wealth to have?

2. Create a Comprehensive Estate Plan

A well-structured estate plan is at the core of legacy planning. It includes wills, trusts, and other legal documents that outline how your assets should be distributed upon your passing. Estate planning ensures your wishes are followed and minimizes the potential for disputes among heirs.

3. Financial Education

Consider educating your heirs about financial responsibility and investing. Provide them with the knowledge and skills to manage and grow the wealth you pass down. Financial education can empower your family to make informed decisions.

4. Charitable Giving

Many individuals choose to include charitable giving as part of their legacy. Establishing a foundation, endowment, or making regular donations to causes you care about can leave a positive impact on society while involving your family in philanthropy.

5. Investment Strategy

Your investment strategy plays a crucial role in legacy planning. Here's how it can contribute to your family's financial future:

Legacy Building Through Investments

1. Diversification

A diversified investment portfolio can help preserve wealth and reduce risk. It's essential to consider the long-term growth potential of your investments while minimizing volatility.

2. Long-Term Perspective

Invest with a long-term horizon in mind. Compound interest and capital appreciation can significantly increase the value of your investments over time. Encourage your heirs to adopt a patient and disciplined approach to investing.

3. Tax Efficiency

Work with financial advisors to optimize the tax efficiency of your investments. Strategies such as tax-efficient investing and gifting can help reduce the tax burden on your estate.

4. Sustainable and Ethical Investing

Consider incorporating sustainable and ethical investment strategies into your portfolio. This not only aligns your investments with your values but also reflects a growing trend toward responsible investing.

Passing Down Wealth

1. Communication

Open and transparent communication with your heirs is crucial. Discuss your legacy plan, your values, and your expectations. Address any concerns or questions they may have.

2. Education

Provide opportunities for your heirs to learn about managing wealth. Consider financial literacy programs, workshops, or mentorship to equip them with the skills needed to handle their inheritance responsibly.

3. Professional Guidance

Seek the expertise of financial advisors, estate planners, and lawyers to ensure your legacy plan is well-structured and legally sound.


Legacy planning is not just about money; it's about the values, principles, and impact you leave behind for generations to come. By carefully crafting your legacy plan and incorporating thoughtful investment strategies, you can ensure that your family's financial future is secure and aligned with your vision. Investing in both your wealth and your family's financial education is a powerful way to create a lasting and meaningful legacy.

If you would like to learn more about leaving a legacy and passing down your wealth, we are here to help. Call us today or Book here.

Devon Ethier, CFP®, MBA, Investment Advisor with iA Private Wealth, and Insurance Advisor* with Oceanside Wealth Management Ltd., can be reached at the iA Private Wealth office at 166 E. Island Hwy Parksville, BC by phone at 250-586-1332, by email at, or online at


This information has been prepared by Devon Ethier who is a Investment Advisor for iA Private Wealth Inc. Opinions expressed in this article are those of the Investment Advisor only and do not necessarily reflect those of iA Private Wealth Inc. iA Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada

*Insurance products and services are offered Oceanside Wealth Management Ltd., an independent and separate company from iA Private Wealth Inc. Only products and services offered through iA Private Wealth Inc. are covered by the Canadian Investor Protection Fund.

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