Why I Became a Trust and Estate Practitioner (TEP)
After working in the field of wealth management for years, one thing became very clear to me: most Canadians know almost nothing about estate planning and how to protect themselves.
I was surprised to discover that at all levels of wealth, people had a mental block around estate planning. They didn’t want to think about their own mortality, and so they would often avoid estate planning or just make a will and do no other planning. But for most families, this type of avoidance is a serious mistake.
Written By Tiffany Woodfield, Financial Advisor, TEP®, CRPC®, CIM®
The estate planning industry can be intimidating.
People don’t know what they don’t know, so they keep their heads in the sand instead of taking action. It feels easier. They don’t realize how important estate planning is or what could go wrong if they don’t create a proper plan.
All of this made me realize I needed to sharpen my estate planning knowledge so I could be in a position to help educate others. That’s why I decided to get my Trust and Estate Practitioner (TEP) designation.
After going through the TEP program, I saw that one of the biggest gaps in the industry is a lack of people communicating the importance of doing estate planning. There are very few resources or online experts who explain this in steps that are easy to understand and focused on the issues that Canadians face when a family member dies.
When we’re intimidated by just the word estate, it’s very hard to begin creating an estate plan.
But pushing through the discomfort of thinking about your own death and tackling your estate planning is critical. The cost of not doing this is too great.
Throughout my career, I’ve seen families fall apart when someone passes, and the emotions are high, making decisions very difficult. This is where conflicts come up, receiving the assets is delayed, and often more money goes out to fees and taxes because of a lack of planning. Not to mention the deceased’s wishes aren’t followed because there wasn’t a plan.
This chaos creates more turmoil for the family, who are stuck thinking about what the deceased would have wanted. They get stuck thinking and wishing that things had been different.
Remember, estate planning isn’t just about documents; it is about protecting the people and values that matter most to us.
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About the Author
TIFFANY WOODFIELD is a senior financial advisor, estate-planning expert, and dual-licensed portfolio manager based in Kelowna, British Columbia. She is the co-founder of SWAN Wealth Management, where she helps Canadian and cross-border families build lasting wealth, reduce tax risk, and create meaningful legacies.
As a TEP (Trust and Estate Practitioner) and portfolio manager, Tiffany works closely with successful professionals, business owners, and internationally mobile families who want to enjoy a more flexible, work-optional lifestyle. She combines deep technical expertise in wealth management with a strong focus on mindset, personal development, and purposeful decision-making.
Tiffany has been a contributor to Bloomberg TV and has been featured in major national and international publications, including The Globe and Mail and Barron’s, for her insights on retirement planning, cross-border wealth issues, and estate planning.
Professional designations:
- TEP® – Trust and Estate Practitioner
- CRPC® – Chartered Retirement Planning Counselor
- CIM® – Chartered Investment Manager