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Best Life Series

<p>ACKNOWLEDGMENT: This article was published by the VFO Inner Circle, a global financial concierge group working with affluent individuals and families and is distributed with its permission. Copyright 2022 by AES Nation, LLC.</p>

Hands making a heart shape into the sunset

Gifting in Life

Sharing your wealth with children or grandchildren in life – whether it’s for a down payment, schooling, or family support – is becoming increasingly common as the cost of living grows. If you’re considering gifting to your children or grandchildren, here are some questions we can address as we work with you to create a strategic giving plan.

Hands making a heart shape into the sunset

Income Splitting

If you are looking at opportunities to maximize your tax return, income splitting – the ability to use the lower tax rates of other family members to decrease the personal tax bills of you and your family – may meet your needs. Here are a few of our favorite income splitting strategies that you and your family can use to reduce tax this year and in future years.

Selling the family home

In large urban settings, this is a key question for many families, but it can be an especially poignant decision for elders, that is, those over 65 years of age, regardless of where they reside. When is the best time to sell this significant asset? Downsize to a bungalow? Move to a new condo? What about a retirement complex that provides extra services?

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Money and happiness

While money and happiness may always be a tricky topic to untangle, you can take action steps with your wealth right now that could better help you find joy and live your best life.

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Could your child be a great entrepreneur?

Parents often dream of their children becoming highly successful business owners — some parents even expect it. But before you encourage or push your kids toward an entrepreneurial life, be honest about whether they have the characteristics that will allow them to flourish as business owners.

Coloured pencils meeting at the points

Building a family brand

Brands are the norm among companies — but they can also help families think and act with greater clarity. A family brand can potentially help you and your loved ones grow stronger. Here’s how.

Multigenerational women autumn

Preparing heirs for their inheritance

Are your heirs ready to deal with wealth you may be planning to pass on to them someday? Inheritors often struggle with their windfalls in ways that can be hazardous to their health and their wealth. Find out how the affluent prepare their heirs for inheritance.

Planned giving

Planned giving will help you do well by doing good — providing meaningful financial support to causes that you care about while potentially giving you sizable tax breaks that boost your bottom line. Check out this guide to eight planned giving strategies that some wealthy families and business owners use to maximize their charitable giving.

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Help heirs with family wealth

The task of transferring ownership and control of your wealth to multiple family members can be fraught with interpersonal land mines capable of effectively destroying that wealth. The solution: smart family governance that aligns your family members’ values and goals.

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Why you should consider meditation

Meditation can help our brains and our bodies in ways that empower us to make better decisions and tap into our creativity. No wonder it’s so popular. Here’s how to make meditation work for you.

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Finding the right work-life balance

Stop trying to find the time for the things that give us pleasure in life — and start making that time. Check out these savvy ways to actively create the type of meaningful, fulfilling life that eludes so many of us.

Running shoes on outdoor trail

Build healthier habits

Just because we know what to do to improve ourselves doesn’t mean we take action, does it? The good news: we’ve got four ways to knock down the obstacles in your path to living your best life!

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Update your estate plan

The estate plan is an important tool to help assign your wealth transfer goals and wishes. It should be reviewed and updated every three years. Learn how to update or improve your estate plan with this Best Life Series article.

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Making philanthropy a family affair

Learn about the great impacts, both socially and on your loved ones, philanthropy can have.

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Life insurance for charitable giving

Life insurance can be a powerful ally in your efforts to magnify your charitable gifts to causes you care about. Wealthy families often use insurance to help fund their private foundations—but you can use life insurance in your philanthropy even if you’re not worth millions of dollars.

Magnifying glass inspecting wooden house figures and columns of coins

Should you join the second-home club?

The vacation getaway. The rental income generator. There are lots of reasons to consider buying a second home. But before you sign that mortgage, carefully consider both the pros and cons of second-home ownership.

Alarm clock next to a woman waking up in bed

Better sleep, better life

Getting sufficient quality sleep is vitally important for your health and well-being. In fact, implementing good sleep behaviours is not unlike adopting better eating or exercising habits. Here's some practical tips on how you could improve your sleep and the many benefits that come with it.

Father daughter business owners

Business owners and succession

Keeping your family business in the family — successfully and according to your wishes — takes smart, proactive planning. Here are some of the key issues you need to address to pass on your business to another family member.

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The power of your estate plan

Chances are, you haven’t thought much about positioning your assets so they’re ready to help the people you love after you’re gone. Even if you have made some headway in this area, your plan for your estate is probably a little — and maybe a lot — out of date. Don’t fret. Here’s how you can get on track by focusing on just three main areas of estate planning: wills, trusts and fiduciaries.

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Boost your efficiency and effectiveness

It can be easier than you might think to boost your efficiency and effectiveness — at the office and at home. This could mean a smoother path to doing what needs to be done so you can cultivate a happier, more fulfilling life. Here's how to make it happen.

Multigenerational family sitting on a hill

Multigenerational living

More adults are housing both their parents and their children — all under one roof! Check out the pluses and minuses of having your entire family share close quarters — and smart moves that can make this potentially thorny situation run smoothly — from a pro who has been there.

Woman in a canoe

Ten lessons about grief

We will all deal with tremendous pain and grief at various points in our lives. How we get through those times will set the stage for the level of peace and happiness we reach going forward. Here are ten strategies that can help you overcome the worst that life may throw your way.

Senior couple outdoors

Life insurance basics

The life insurance landscape can be tricky to understand and navigate. Here’s a primer to get you on your way.

Laptop and coffee

Work from home successfully

Discover how to be a successful at-home worker, and the habits and strategies for maximizing your work-from-home effectiveness.

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Personal development and success

Here are six smart ways to invest in yourself so that you can build the life you most want.

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Power of the pen

Looking to leave a legacy that heirs will understand? Consider writing a book about the things you value most so your heirs are enlightened when the time comes.

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