Clients may be called upon to take on powers of attorney as parents age and face incapacity. O'Sullivan Estate Lawyers in Toronto explain 10 duties that come with this responsibility.
Half of Canadians have a will, while a third have a power of attorney for property and 8% of those surveyed by Scotiabank say they don’t know what POA is.
If clients plan for final expenses, it’ll make things easier on their children.
Planning ahead for a client’s mental or physical incapacity isn’t always possible. Here’s how to protect yourself.
When presented with a POA document, Harold Geller, a civil litigator with Ottawa-based Doucet McBride LLP, says advisors should focus on a few basics.
Government stats estimate as many as 10% of seniors are victimized by elder abuse.
Help clients before it’s too late.
Most advisors know the importance of a PoA. So to avoid challenges, watch for these problems.
Many consider the Tax-Free Savings Account (TFSA) to be the most versatile savings account available to Canadians. Not only does it provide tangible benefits such as tax-free income and withdrawals, but it is available to all adult Canadians regardless of age or income level. Unlike other tax-efficient plans that restrict contributions and/or withdrawals based on […]