Family wealth and family offices
Insurance planning that holds across generations.
Estate liquidity, corporately owned insurance, shareholder funding and charitable giving, for families, business owners and family offices. Independent advice, not tied to any insurer.
- One plan across your advisors
- coordinated with your lawyer, accountant and wealth manager
- Liquidity when it’s needed
- so the estate passes intact
- Advice, not a product
- solutions for your family’s situation
Where we help
What we look at together.
We start with your family, your goals and what you want to pass on. The insurance comes last, once the plan is clear. These are the situations we work through most often.
An estate that will owe tax
A cottage, investments or the business can leave a large tax bill at death. Insurance can pay it, so nothing has to be sold.
Tax and estate planningWealth held in a corporation
Corporately owned insurance can move value to your family through the capital dividend account, structured with your accountant.
Business-owned life insurancePartners or shareholders
Coverage that funds your shareholder agreement, and protects the business if it loses someone it relies on.
Buy-sell insurancePassing wealth to the next generation
Insurance can move wealth to children and grandchildren simply and privately, outside the estate where it fits.
A gift to a cause you care about
Donating a policy, or naming a charity, can make a larger gift than the premiums alone could.
Property or family across the border
Where there are cross-border considerations, we bring in professional resources who specialize in them.
Family wealth and family offices
The insurance specialist on your team of advisors.
Your lawyer handles the legal work, your accountant the tax and your wealth manager the investments. We handle the insurance, and we coordinate with each of them so the plan holds together across generations.
For family offices
We usually work with the head of the family, and alongside your in-house counsel and accountants. Where you already have trusted specialists, we work with them as your insurance specialist. Where you’re looking for one, we’re happy to make an introduction.
Our relationships
Advisors to generations of the same families.
Some families have worked with us across two and three generations. We know their history, their businesses and how the family works, which makes each new conversation easier. Garrett Agencies is a family business too, so we understand what it means to plan for the next generation.
How we work
From first conversation to claim.
We work for you, not the insurer. Here’s what that looks like, from the first conversation on.
We learn your situation
Your family, your business, your goals and existing coverage, usually with the head of the family. We meet at your office, ours or by video, whatever suits you, and with your other advisors if you’d like.
We design the plan
You get our recommendation, and our reasons, in writing. The plan is documented so family members who want to understand it can see how the pieces fit.
We place the coverage
Large amounts and unusual risks take more underwriting. We manage it, including with specialist markets when the standard market won’t write the case.
We stay with you
Reviews regularly, and whenever something changes in your family, your business or the tax rules, and an advocate when you need to claim.
We’re paid by commission from the insurer, or by fee for some work. How we are compensated
For lawyers, accountants and wealth managers
If you’re looking for insurance expertise for a client, we’re happy to arrange a conversation. We work alongside you and keep you informed, with your client’s permission.
Related articles
- Tax and estate planning6 minute readA smart and simple way to transfer wealth to your grandchildren in CanadaLearn how grandparents can leave a lasting legacy by using whole life insurance to grow wealth tax-sheltered and transfer it to their grandchildren without tax on the transfer.
- Life insurance5 minute readLeveraging life insurance: turning protection into a financial strategyLeveraging a permanent life insurance policy allows you to access liquidity, enhance tax efficiency, and strengthen estate planning while keeping your coverage intact.
- Segregated funds4 minute readHow to avoid probate delays and executor inaction with segregated fundsDiscover how segregated funds can help your loved ones avoid costly delays, probate headaches, and executor inaction.
A private conversation, on your schedule.
No obligation. Bring your questions, or your other advisors.