By 2021, 22.8% of Canadians will be 65 years of age and older. Do we feel prepared as children and grandchildren to help guide and protect them and their finances through their later years of life? Checks and balances to consider:
• Have a family member who can act as the point of contact to divert calls to this person from sales people, etc.
• Do a monthly or quarterly review of the senior’s finances, including their bank and credit card statements.
• Put together a will and power of attorney while the family member is still of sound mind.