Death of a Salesman
Updated: Apr 17
I recall having to read Death of a Salesman in high school. Don't remember much, a little depressing perhaps but in hindsight I wonder how much estate planning they did based on the title...I don't think that was the focus. So I'm sure this simple list is only a google search away but given recent experience, proper planning for yourself, grandparents, parents, your spouses parents can save a lot of headaches later.
So here is my list of to-do's as we get older. How old? Life expectancy is early 80's subject to your health levels so sometime before then! I don't get into detail so if you don't agree or are unsure why, send me a note.
consolidate investment accounts, bank accounts to one place
joint ownership of accounts/assets where possible/appropriate
check your beneficiary designations
avoid probate where it makes sense
increase your income from your RRIF
review your risk tolerance
review your will and POA's
Decide who gets what
Educate your spouse
Educate your children
Use professionals, accountants, lawyers, financial advisors
It's as simple as that!