Wealth transfer for baby boomers

The generation of biggest savers are about to transfer their savings to the generation of biggest spenders.

A "recent study" indicated that 70% of wealth transfers were chewed up through court action [yes].

In order to avoid executors' fees, probate fees and legal and accounting fees he suggested that GICs bought from an insurance company in a nonregistered account could be transferred to beneficiaries without incurring these significant costs.  In addition to having little or no fees, he suggested that such vehicles were fast [the insurer must pay within 30 days] and are private documents, not open to public inspection.

Steve Robinson thanked the speaker.