Much of what we do today is to improve our future financial position. As with anything, we can get better results by following a plan. This is why both Estate Planning and Financial Planning are important for those who want to ensure better tomorrows for ourselves and our families.
Financial Planning focuses on what we want to happen while we’re still alive. Estate Planning is concerned with what we want to happen here on earth after our death.
It’s best to start with the Estate Plan because no one knows how soon it will be needed. Also...
Many mistakenly believe that if they need Long Term Care, either in their home or in a facility, the cost will be covered by provincial health care or other government agencies. While certain programs are available, a large portion of these costs become the responsibility of the patient or their family.
John and Ellen, in their early sixties, retired. They were looking forward to traveling and visiting with their grandchildren. Within a few months, Ellen’s parents were no longer able to look after themselves and asked John and Ellen for help. They extensively renovated their home, with just a little financial help from Ellen’s folks, to accommodate them.
Over a period of less than a year, Ellen’s