By Sarah Brown, FEA
The largest wealth transfer in Canadian history is underway, and for millions of Canadian families, the women ultimately responsible for stewarding that wealth may not yet be fully part of the plan.
By 2028, Canadian women will control nearly $4 trillion in assets, almost double what they hold today. They are earning more, making up a larger share of the workforce, and, on average, outliving their spouses. Many will inherit twice, once from a partner and once from a parent. What is striking is how often that moment of full financial responsibility arrives with a plan built without the significant involvement of the woman who will now oversee it.
Even in families where inclusive financial conversations are open and regular, it is often only when circumstances change, and the wife or daughter is suddenly responsible for the estate, that the full picture of what she did or did not know comes into focus. This is underscored in a 2024 Women of Influence survey showing that while 68% of women feel in control of their finances, 42% remain concerned about long-term security.
In our experience, most women want advisors who listen first, explain clearly, and build strategies that can withstand both market cycles and life transitions. The most effective planning conversations with women start with different questions. Not what do you own, but what do you want this wealth to do? The answer shapes how risk is framed, how the timeline is structured, how the estate is organized, and where giving fits in. A plan built around that conversation looks different. It is more honest, more complete, and more likely to hold together when life does not go as expected
For many women, wealth is more than accumulation. Rather, it is about what accumulation makes possible, such as the freedom to make values-based choices, support loved ones, and leave something meaningful behind. Charitable giving may also be a central part of building family legacy, making it all the more important that philanthropic intentions are built into the estate plan from the beginning rather than treated as an afterthought.
Timing is important. The women who navigate wealth transitions most confidently are not necessarily those with the most financial knowledge. They are the ones who were part of the conversation before they needed to be. Being included in planning meetings, understanding the estate’s structure, and knowing where things are held are not about distrust or pessimism; they are about being ready and remaining in control.
Five questions every woman should be asking her advisor
1. Can you walk me through everything we own and how it is held? Too many people have a general sense of what they own without knowing the full picture. Where accounts are held, what the beneficiary designations say, and what happens to each asset when circumstances change are details that are too important to leave vague.
2. What does my Will actually say, and when was it last reviewed? Not the general idea of it. The specific instructions. Who the executor is, what the beneficiary designations are on insurance policies and registered accounts, and whether they still reflect what you want
3. How does the life insurance in our plan work, and what is it designed to do? Not a general description but a clear explanation of how each policy functions and what it is there to protect. Life insurance is one of the most powerful and tax-efficient tools available for wealth transfer in Canada, and understanding it fully is not optional.
4. Where does our charitable giving fit in the estate plan? If giving matters to your family, it should be built into the plan from the beginning, not added separately afterward. A donor-advised fund, a charitable bequest, or a named foundation can honour your family’s values and strengthen estate tax efficiency at the same time.
5. Does our retirement projection account for my actual work history? If you took time out of the workforce, reduced your hours, or paused RRSP contributions to care for children or aging parents, those years have a compounding financial effect that a standard projection may not capture. Ask your advisor to model your actual history, not an idealized one.
Women have always been at the centre of family life, and now they are increasingly at the centre of family wealth. That is not a burden to manage but an opportunity to shape something that reflects values, protects loved ones, and carries intentions forward. The financial plan that makes that possible is built deliberately, with women fully in the room from the beginning.
To learn more about how Al G. Brown & Associates helps women understand and protect their wealth, contact info@algbrown.com.
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