Category Archives: Retirement planning

Where there’s a will there’s a way to store it

 Sam just signed his last will and testament. He is planning to leave his estate equally between his two children, one in Calgary and the other in Winnipeg. His lawyer asked him where he planned to store the original copy. Good question. There are a variety of popular and not so popular places where…

Power of attorney and healthcare proxy are both needed

The Facts: I thought that the only legal document I would need in the event of a medical emergency was a healthcare proxy. However, a friend told me that a power of attorney (“POA”) can play a critical role in a medical emergency. The Question: Is this true? The Answer: Absolutely! While the person you…

Understanding financial power of attorney forms

There may come a time for all of us when we are no longer able (or don’t want to) handle our financial affairs. The Durable Power of Attorney for Financial Matters is usually prepared by a lawyer to clearly show what is and is not covered. The form names an agent (other person, or firm)…

A Wellness Checkup for Your Estate Plan

Wellness is all the rage, and for good reason. Isn’t there some expression about an ounce of prevention being better than a pound of cure? Why fix things when you can avoid breaking them in the first place? Advice that works in the wellness arena can be relevant to estate planning as well. What’s good…

IRS to Crack Down on IRA Tax Rules

If you have an individual retirement account (IRA), now is the time to make sure you have been complying with tax rules. The Internal Revenue Service (IRS) is going to start cracking down on individual retirement accounts in an effort to collect penalties from taxpayers who do not follow rules regarding maximum contributions and minimum…

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