InsightsThe Happy Inheritor: Rethinking the Way We Pass Down Wealth
April 22, 2025 • 5 MIN READ
What if the greatest risk to your family’s wealth wasn’t taxes, inflation, or market volatility—but silence?
At Verus Financial, we’ve worked with families across generations, helping them preserve, grow, and eventually transfer their wealth. And if there’s one truth we’ve learned, it’s this: a well-structured estate plan isn’t enough.
The most effective wealth transitions don’t just involve accountants and lawyers. They involve real conversations—often vulnerable ones—between parents, children, and even grandchildren. Conversations about purpose, about values, and about what money is for.
That’s why The Happy Inheritor, the latest book by intergenerational wealth expert Tom Deans, has resonated so deeply with us. In a world that tends to obsess over tax efficiency and portfolio returns (and yes, we do too), this book is a powerful reminder: financial legacies succeed or fail based on relationships—not spreadsheets.
The Myth of the “Lucky” Inheritor
There’s a cultural myth that inheriting money is a straightforward blessing. That with more capital comes more freedom, less stress, and a better life.
But in reality, many inheritors experience the opposite—especially when the inheritance comes without context. They may feel guilt for receiving money they didn’t earn. Pressure to make decisions they’re not ready for. Or confusion about what the money is even meant to do.
Tom Deans argues that the happiest inheritors aren’t the wealthiest. They’re the ones who:
- Know what the inheritance is for
- Understand the family values behind it
- Have had real, sometimes tough, conversations ahead of time
In other words, the happy inheritor doesn’t just receive wealth—they receive a mission.
What Makes a “Happy” Inheritor?
In The Happy Inheritor, Deans outlines three key elements that define positive inheritance experiences:
- Clarity – Understanding what’s being passed down and why.
- Communication – Engaging in open, ongoing dialogue between generations.
- Commitment – Aligning wealth with shared values and purposeful intent.
This isn’t about handing over financial control prematurely. It’s about preparing the next generation not just with money, but with mindset. With confidence. With the tools and context to carry the wealth forward wisely.
The Silent Killer of Family Wealth
Multiple studies confirm what Deans emphasizes: 70% of family wealth is lost by the second generation, and 90% by the third. And it’s not because of bad investment advice or poor market performance. It’s because of a failure to prepare the people who are inheriting it.
When there’s no plan beyond the paperwork—no communication, no context—what’s left is often confusion. Sometimes resentment. And occasionally, irreparable family conflict.
Families don’t fail because of a lack of planning. They fail because they never talked about the plan.
The $1 Trillion Transition
We’re now entering the largest intergenerational wealth transfer in Canadian history. Over $1 trillion is expected to pass from Boomers to their children and grandchildren in the next decade.
Yet surveys consistently show the majority of families haven’t discussed how—or why—that wealth will be passed down. Conversations around inheritance are often seen as awkward, uncomfortable, or even inappropriate.
But not having the conversation is a decision in itself. One that often leaves the next generation unprepared, unsupported, and uncertain.
Why This Matters to Verus Clients
At Verus, we don’t just manage investments—we help families align wealth with values.
That means:
- Facilitating generational conversations
- Clarifying legacy goals
- Helping clients explore the human side of their estate plans
We work with business owners, professionals, and multigenerational families who want more than just a tax-efficient exit. They want their wealth to mean something. To last. To be passed down with intention, not just instruction.
The truth is, a great portfolio can’t fix a broken family dynamic. And no legal structure can replace a shared understanding of what matters most.
Bringing the Book to Life
Books like The Happy Inheritor offer a roadmap to start these essential conversations. They encourage families to move from secrecy to transparency, from passive assumptions to active planning.
And this isn’t just about avoiding negative outcomes—it’s about unlocking positive ones. Inheritors who are involved early tend to be more engaged, more confident, and more successful stewards of their family’s capital. They invest with a longer view. They give more thoughtfully. They plan more proactively.
This is the kind of next generation we want to help prepare.
Looking Ahead: Join the Conversation
On May 29, Verus Financial is hosting Tom Deans live in Vancouver for an evening focused on inheritance, legacy, and what it really takes to prepare the next generation.
If you want to explore how to make your wealth transfer more meaningful—not just more efficient—this is a conversation you don’t want to miss.
Space is limited.
