Show Notes
Your inheritors don't need equal—they need fair. Canada is in the middle of its largest intergenerational wealth transfer in history. How do you balance fairness when your children have different financial needs? When is the right time to give? And how do you ensure your intentions don't create unnecessary family tension in the future?
In this episode of CIBC Smart Advice, host Carissa Lucreziano sits down with Dr. Tom Deans—bestselling author of Every Family's Business and one of Canada's leading voices on inheritance strategy—to tackle the wealth transfer conversation most families avoid. This is about preserving the relationships that matter most, while building a legacy that reflects your values.
3 Reasons to Listen to This Episode 1.) Discover why equal inheritance can backfire—and what works instead 2.) Learn how to navigate inheritance disputes before they start 3.) Unlock the "giving while living" opportunity that's reshaping Canadian wealth transfer
Resources Mentioned / Links List
● CIBC's "Smart Advice" Podcast and Website - Website | Apple Podcasts | Spotify ● Visit CIBC for more Smart Advice ● Willful Discount Offer: Save 20% on your will ● Tom Deans’ Books: The Happy Inheritor, Every Family’s Business and Willing Wisdom
About Tom Deans Dr. Tom Deans is a bestselling author, speaker, and internationally recognized expert on family wealth transitions, inheritance, and estate planning. He is the author of Every Family’s Business, Willing Wisdom, and The Happy Inheritor, and has spent decades helping families navigate complex conversations around wealth, legacy, and succession planning. Through his writing and speaking, Tom advocates for greater transparency, communication, and preparation across generations.
Episode Highlights [03:10] Why So Many Canadians Still Don’t Have a Will
● “Fifteen million Canadian adults are missing the most important document in the estate plan.” ● Tom and Carissa discuss the surprising number of Canadians without wills, and the risks families face when estate plans are left incomplete or undocumented.
[07:58] Giving While Living
● The conversation explores the growing trend of parents and grandparents giving money earlier in life to help younger generations navigate rising housing costs, debt, and affordability pressures.
[11:48] Fairness, Family Dynamics, and Living Gifts
● Tom explains how unequal financial support, secrecy, or unclear expectations can create long-term tension among siblings and family members, even when intentions are good.
[19:50] The Emotional Side of Estate Planning
● The discussion turns to cottages, family businesses, and other difficult-to-divide assets, and why inheritance disputes often stem from emotional attachment as much as financial value.
[25:39] Family Meetings and Preparing the Next Generation
● Tom shares why structured family meetings can help families navigate difficult conversations around executors, inheritance, trusts, and long-term planning in a more transparent way.
[29:17] Building a Legacy Beyond Money
● “This is what we do: we teach our children what wealth is, and quite frankly, what it’s not.” ● The episode concludes with a discussion on financial values, preparing heirs responsibly, and how strong communication can help families preserve both relationships and wealth across generations.
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