Martha’s Legacy for Little Ellie and Sam

Martha had been a nurse for 40 years. She had lived frugally, invested steadily, and by the time she turned 72, she had paid off her home. She also supported her daughter through a divorce and doted on her two grandchildren: Ellie, six years old, and Sam, nine years old.

“They’re the light of my life,” she said often. “But I worry about their future.”

A Grandmother’s Concern

Martha had watched the world change. She saw how financial pressures made it hard for families to plan and save. Her daughter was doing her best but was struggling. She worked long hours while trying to be both mom and dad.

Martha wanted to leave something meaningful behind, but she had seen lump-sum inheritances backfire. A cousin’s grandson had received $80,000 from a grandparent — and it was gone in under a year. It was spent without structure or purpose.

So she asked herself the hard question: “Are my grandkids ready for a large gift when I’m gone?”

The honest answer was no, but that was okay.

A SaferWealth advisor can help prepare for the day when the time is right to leave your legacy.

Stage 1 – “They’re Not Ready — And That’s Okay”

Martha realized that Ellie and Sam were too young to understand money. Even as they grew, she couldn’t assume they’d be taught about financial matters. Schools weren’t teaching financial literacy. Their mom barely had time to sleep.

“They’ll need support long after I’m gone,” she told her financial advisor. “But just handing over cash isn’t the answer.”

Her advisor nodded. “Most inheritances don’t last, Martha. But a structured plan can do more than just give — it can teach, protect, and grow.”

Martha felt relieved. A plan could provide both support and education for her grandchildren. This knowledge motivated her to explore options.

Stage 2 – “What If the Bank of Grandma Was Smarter?”

Instead of leaving a portion of her estate in her will, Martha funded an investment insurance policy. She set up a trust for Ellie and Sam. The policy would grow with a guaranteed cash value during her lifetime. Upon her passing, it would pay out tax-free, managed by a trustee she selected.

But that wasn’t all.

She structured the trust to:

• Release monthly payments for educational support.

• Unlock additional amounts only at age milestones (18, 25, 30).

• Provide matching funds if either grandchild opened a TFSA or RESP.

• In her words: “I’m teaching them even when I’m not here.”

  
  

These steps gave Martha peace of mind. She was certain her investment was a wise choice. It would help Ellie and Sam learn about money responsibly.

Stage 3 – “But What About My Own Retirement?”

Martha’s biggest fear was outliving her savings. “What if I need long-term care?” she asked. “What if I get sick?”

Her advisor helped her model the plan.

She learned that her investment policy would build cash value that she could borrow against tax-free if needed. Essentially, it acted as her own emergency fund or reverse mortgage. Her pension and CPP would cover most monthly expenses, but the policy now served as her backup plan as well.

“I thought insurance was just for when you die,” she said. “But this helps me while I’m alive.”

This realization shifted Martha’s perspective on financial planning. She began to view her investments not just as a legacy but also as a means of security for herself.

Stage 4 – “Start the Plan They’ll Thank You For”

Martha finalized the paperwork before her 73rd birthday.

Six months later, Ellie needed speech therapy, and Sam wanted to join a music program. Martha used the investment value in her plan to give her daughter some relief. This allowed her to say “yes” instead of “maybe next year.”

When Martha passed a decade later, her family mourned deeply. Yet, they also felt surrounded by her love.

A family tree symbolizing legacy and connections.

The trust began paying out just as she had planned:

• Monthly support for both children’s education.

• Larger gifts released as they entered adulthood.

• A permanent reminder that Grandma had thought of everything.

  
  

Martha didn’t leave a cheque. She left a system, a cushion, and a message of faith in their future.

A Lasting Legacy

Years later, Ellie would say, “Grandma believed in us before we even knew who we were.” This legacy was not just about money; it was about values, lessons, and the love that would continue long after Martha was gone.

Creating a legacy is important. By planning ahead, you ensure that your loved ones are supported and educated. Call a SaferWealth advisor to create your own Strategic Legacy Plan today!