Tax planning and the management of investment risk will also be discussed. This session is intended to be a primer on Will preparation including Powers of Attorney and so-called Living Wills. The discussion will also cover effective means of personal record keeping as well as methods to ensure an efficient probate process. Once the basics of estate planning such as the Will and Power of Attorney are in place there are further ways to maximize your estate and minimize the effect of income tax. This session will cover methods to do this by discussing such items as life insurance, charitable giving, the use of trusts and gifting.
Many seniors have the opportunity for extensive travel outside of Canada.
This session will discuss the implications of traveling or living outside the country. This session will attempt to answer questions regarding the financial implications of nursing home or long-term care. In today's world of ever increasing longevity providing for children or grandchildren, while living, can provide great satisfaction. This session will cover methods such as RESPs, trusts and insurance strategies available to maximize the benefit to future generations while reducing taxes. This session will be reserved to cover topics that have been requested during the previous sessions.