Transfer Your Wealth

The transfer of wealth is a natural progression of your financial plan. After you focus on creating and preserving your wealth, over time your goal may shift to transferring portions of your wealth to family members or favourite causes.

Transferring your wealth can be achieved using any of the following:

  • A gift
  • Sale of assets
  • Estate distribution, typically through your will
  • Beneficiary designation

Each method has its advantages, but beneficiary designations are often favoured where available for their simplicity and efficiency. All product solutions offered by Empire Life let you make a beneficiary designation.

A number of strategies are available to assist with your wealth transfer goals. A popular one among these is the legacy builder strategy. Depending on whether your goal is to transfer wealth to individual family members or favourite charities, this strategy can be implemented as either a personal legacy or a charitable legacy.