81: Wealth Management Law (Raphael Tachie) - July 19, 2023

It’s our Season 9 premiere! We’re kicking it off with a timely discussion about wealth management law featuring Raphael Tachie.

Topics: financial services and consumer protection frameworks; the rise of electronic wills; changing a beneficiary designation; and our Ask-Me-Anything segment. This program contains 30 minutes of substantive content for the Law Society of Ontario’s CPD requirements.

Full Episode (46:07) Download      Transcript

⚫ How will the new consumer protection requirements improve outcomes for vulnerable users of the financial services industry? (5:33)
⚫ What are the practical considerations for lawyers who administer electronic wills? (15:10)
⚫ Is the change of a beneficiary designation a matter of contract or testamentary disposition? (24:06)
⚫ Our Ask-Me-Anything segment, featuring questions submitted by patrons of the Lawyered community (33:03)
? How do trends in diversity impact the day-to-day work of wealth management lawyers? (33:38)
? What are the legal considerations for individuals who seek to pass along NFTs through succession planning or wills? (36:29)
? In addition to the issues that we already spoke about, are there any other best practices that banks (or other financial institutions) can implement to best protect vulnerable clients? (39:20)
? What role can lawyers play in assisting clients with business succession planning? (40:48)

1. Vulnerable Clients and Financial Services Obligations (12:14) Download

Financial Consumer Protection Framework Regulations SOR/2021-181

2. The Rise of Electronic Wills (12:55) Download

Wills, Estates and Succession Act [SBC 2009] CHAPTER 13
Rempel Estate v Dudley, 2020 BCSC 1766

3. Changing a Beneficiary Designation  (12:13) Download


4. Ask-Me-Anything: Wealth Management Law (12:53) Download

? How do trends in diversity impact the day-to-day work of wealth management law?
? What are the legal considerations for individuals who seek to pass along NFTs through succession planning or wills?
? In addition to the issues that we already spoke about, are there any other best practices that banks (or other financial institutions) can implement to best protect vulnerable clients?
? What role can lawyers play in assisting clients with business succession planning?

About the Guest:

Raphael Tachie is a partner and head of Gowling WLG’s Private Client Services Group in Vancouver.

His practice is primarily focused on providing strategic legal advice to high-net-worth clients and financial institutions across all areas of estates and trusts law. Raphael assists high-net-worth individuals, families, entrepreneurs and business owners with estate and trust planning, business succession planning, incapacity matters and planned charitable giving Raphael also has extensive experience in delivering strategic advice to insurance, investments and trust companies with regard to the impact of the laws and regulations relating to older and vulnerable customers, incapacity, estates, trusts and beneficiary designations on their products, services and market conduct. He collaborates closely with financial institutions and their advisors

Raphael is the past president of the Canadian Association of Black Lawyers (CABL), and has been a member of several committees of the Canadian Bar Association and the Canadian Corporate Counsel Association. He also sits on the editorial board of Canadian Lawyer magazine.

Raphael’s Full Bio
Raphael’s Email Address

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