After spending your career building wealth, you may want to make sure that you can leave a legacy for your family members after you pass away. You can continue to build your financial portfolio with the help of an Ontario financial advisor. You may also want to make sure that most of the assets you own at your death go to your loved ones during the estate administration process.
You could accomplish this by including an estate planning and probate lawyer as part of your team. The reason that you hire a financial advisor is because you do not have the knowledge it takes to properly invest and grow your assets. The question is whether you can trust that person to look out for your best interests. It might not hurt to have someone working with him or her to make sure your estate continues to grow and serves you during your life and your family after your death.
A financial advisor may know how to grow your portfolio, but he or she may not understand the succession, tax and estate ramifications of some decisions. You would probably feel more comfortable with someone in the legal field making sure that those decisions do not end up costing your family over time. Perhaps you have not yet chosen someone to help build your wealth and need some advice on what to look for and make sure he or she does not make you promises that cannot be kept.
You can take advantage of numerous wealth-building strategies, but also need to make sure that your efforts benefit you and your family over the long term. This often requires making sure that when it comes time for the estate administration process, your loved ones get the maximum benefit from those efforts. For this reason and more, you would probably benefit from sitting down with an experienced Ontario lawyer to discuss your goals.