Inheritance Planning in Kelowna
Honoring Their Memory, Building Your Future
Inheriting wealth means navigating complex grief and complex laws simultaneously. We provide the "Sanctuary" you need to make wise decisions without the pressure.
The Fog of Grief is Real
When you lose a loved one, your cognitive ability drops just as the financial complexity spikes. You are being asked to make permanent financial decisions while in a temporary state of emotional distress.
This often leads to Sudden Wealth Syndrome (SWS):
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The Guilt: "Am I doing the right thing with Dad's money?"
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The Pressure: "Why is the bank/relative/advisor rushing me?"
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The Fear: "What if I make a mistake and lose the legacy?"
You do not need a hot stock pick. You need a Decision Free Zone.
We Don't Guess.
We Follow The Sudden Wealth Compass
The Navigator Session
We stop the spinning. Before any money moves, we craft the 90-Day Navigation Plan. We establishe a Decision Free Zone for the next three months.
The Financial Charter
We do not build a portfolio; we draft a Constitution that formally aligns your resources with your purpose and verifies your safe burn rate.
Stewardship & Legacy
Wealth is not a destination; it is a discipline. We serve as your Personal CFO, ensuring your plan evolves with your life.
Common Questions for Beneficiaries
Is inheritance taxable in British Columbia?
Generally, no. In Canada, there is no "Inheritance Tax" paid by the beneficiary. However, the Estate pays taxes on all capital gains before the money is distributed. Additionally, BC charges Probate Fees (approx. 1.4%) on the estate's value. We help you calculate the net amount you will actually receive so you can plan accurately.
What if I inherit a house in the Okanagan?
You must decide to Sell, Rent, or Occupy. Inheriting real estate triggers specific issues with Capital Gains Tax (if it wasn't the primary residence) and Property Transfer Tax. We help you run the math on the cash flow implications of keeping the property vs. the liquidity of selling it.
How quickly do I need to invest the money?
You shouldn't. We recommend a 90-Day Decision Free Zone. Rushing into the market while grieving often leads to emotional mistakes. Your priority is solvency and safety, not immediate returns.
Is the life insurance payout taxable?
Generally, no. In Canada, life insurance death benefits are almost always received tax-free by the beneficiary. This differs significantly from RRSPs or RRIFs, which can be heavily taxed on the estate's final return. Because this liquidity arrives "instantaneously," it is a common trigger for Sudden Wealth Syndrome. We recommend parking these funds in a Sanctuary Account during your 90-day Decision Free Zone rather than investing them immediately.