As the year draws to a close, I have started my annual financial review and goal setting process for the year ahead. This is an important step in any financial planning. For me, the exercise helps me determine where my family’s finances stand and if adjustments are needed. It also gives me a clear picture of our current accounts and…
Tag: power of attorney
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Money News – October 2020
Personal Finance in the News – October 2020: Read: The Bank of Canada has ended a pandemic program that helped real estate prices surge. This largely unknown but wide-reaching policy saw the Bank of Canada buy nearly $10 billions in mortgage bonds. This artificially lowered borrowing costs and helped send home prices through the roof. What happens now is anyone’s…
Power of Attorney
Understanding the basic tenets behind power of attorney is important for good financial planning. Here, we’ll explore what it is, why it’s important, and how it relates to other aspects of estate planning. What is power of attorney? Power of attorney, or POA, is a legal document or set of documents where you grant another person (called the agent of…
Writing a Will
Writing a will can be overwhelming, but it is an important foundation of good financial planning. In this article, we’ll take a look at why it is so important, how to get started, and what to consider when writing it. What is a will? A “last will and testament” is a legal document that explains how to divide your assets…