Family Meetings

Share on facebook
Share on twitter
Share on linkedin

“Happy Birthday to you. Happy Birthday to you. Happy Birthday dear mom. Happy Birthday to you! Now, let’s talk about your estate and who will look after the distribution when you pass away.” Not the warmest of segues to be heard at a birthday celebration. However, unless it is done, a very important conversation that families should have, will never take place.

The conversation about death and mortality is never a pleasant one. And, there is never an appropriate time to have it. If it’s too early, it seems unrealistic. If it’s too late, then opportunities may be missed. In most cases conversations are prompted out of necessity (i.e. terminal illness, death bed, etc.), if they’re even had at all.

But why is it important to have this conversation?

  1. Give opportunity to outline specific roles and responsibilities (i.e. executors; trustees; guardians; digital executors; etc.)
  2. Give opportunity to explain specific provisions in the will (i.e. unequal division of assets; why one child is an executor and the other is not; etc.)
  3. Direct where the executors should go to administer the assets (i.e. financial institutions; who to contact; etc.)
  4. Provide the forum for questions to be asked while they can be answered.

The challenge we see is that families don’t have or make the opportunity to conduct the conversation. Typically, families get together for special occasions or holidays. Hardly the time to have such a heavy conversation. A family meeting or specific visit must be scheduled. No grandchildren. No in-laws. Just parents and children. In doing so, all relevant people involved can participate freely without distractions or influence.

If you find that it is difficult to schedule one on your own, feel free to contact your advisor. At The McClelland Financial Group, we have facilitated many family meetings for our clients. We provide an impartial location, details of financials, a review of the estate documentation and general direction of the conversation.

Contact our office to schedule a Family Meeting with your advisor.

Related articles

Are You Working with a Stagnant Advisor? Podcasts

Are You Working with a Stagnant Advisor?

Across all industries, it’s important to work with the best. Now that doesn’t always equate to the most expensive, what it does require however is an individual who is committed to staying current and educated. Far too often specialists can become compla…

Read More →
Fee Rates: Bad Marks for Canadian Fund Fees Podcasts

Fee Rates: Bad Marks for Canadian Fund Fees

Morningstar has given Canadian fee rates an official thumbs down. Find out why we are getting such poor marks. What goes into making up a fee rate? Why is unbundling your fees advantageous and how do we stack up? Listen today as Senior Financial Advisors…

Read More →

The 5-Hour Rule Used by Bill Gates, Jack Ma and Elon Musk “You just walked in the door from an exhausting day at work. You’re hungry and spent, just wanting to catch your breath for a …

Read More →

Financial Planning Advice from Canada's Top Financial Advisors

Sign Up To Receive Email Updates On The Financial Industry And Complimentary Workshops.

By providing your e-mail address you provide The McClelland Financial Group of Assante Capital Management Ltd. with your express consent to send you electronic communications. If you choose to discontinue receiving e-mails, you may withdraw consent by contacting [email protected].


Get actionable financial insights from the TMFG team.

Copyright Assante Wealth Management. © 2022

Disclaimer | Assante advisory services are offered through Assante Capital Management Ltd. Assante Capital Management Ltd. is a Member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada. The services described may not be applicable or available with respect to all clients. Services and products may be provided by an Assante advisor or through affiliated or non-affiliated third parties. Some services and products may not be available through all Assante advisors. Services may change without notice. Insurance products and services are provided through Assante Estate and Insurance Services Inc.

We have a team of advisors each specializing in varying portfolio sizes. Please let us know the approx. amount of your investable assets to help us to direct you to the advisor that is best suited to you.