Death of a Salesman

July 15, 2019

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!

 

 

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