Finance - Housing and Related Financial Issues for Older Adults (Kings County)
What are the financial issues of living at home, moving to an apartment or community care residence, or to a nursing home? The goal of this session is to answer your questions, such as:
- What financial issues should you consider?
- Will you qualify for government assistance?
- Are there tax costs? or tax deductions?
- What is the difference between community care and long-term care?
- Must you sell your home and other assets if you move to a long-term care home?
- Should you sell or transfer your home, your cottage or your investments, and when?
- What are the tax implications of either putting your real estate in joint name; staying in your home and using a "life interest"; or giving it to your children either now or on death?
- Are you saving money by transferring property to avoid probate costs if you trigger early tax costs or give up all or part of your principal residence exemption?
- What are the financial implications of transferring your cottage to your children?
- Where can you go for more information?
Course Locations and Times
| Offering Period & Time | Location | Status |
|---|
| Fall | | | |
| Winter | 02/24/2026 - 02/24/2026
Tuesday
9:30 AM - 12:00 PM | Atlantic Fitness East
219 Kennedy St
MONTAGUE C0A 1R0 | Not Open Yet |
| Spring | | | |
| Requirements | To make the most of this course, write your questions down in advance; bring them with you or send them to the instructor before hand upon his invitation to do so. Answers will be provided in a general way without dealing with specific personal information. If you change your mind or cannot attend, other members may be able to take your place and/or the instructor can reduce the number of handouts made available, so please respect others by cancelling your registration as early as possible. |
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| Objectives | Many older adults face housing decisions as maintaining the family home becomes more difficult with aging. There are many aspects to consider, and if you make the wrong decision, it is likely impossible to reverse. For one example, you may be advised to change title of your real estate to children to avoid probate costs, but did you know this requires reporting for tax purposes, may result in immediate tax costs, and also places your property at risk if your children encounter financial difficulties ? The course objective is to give you a more comprehensive picture of the financial issues you need to consider in making housing decisions, and the pros and cons of various alternatives. Legislation and government policies change often, so rather than relying on what you learn in this course, you should review the concepts that concern you with your own financial and legal advisors or government contacts. |
| Teaching Process | |
| UPEI Parking Pass Required? | No |
| Additional Costs? | No |
| Additional Costs or Information | |
Course FacilitatorBlair CorkumBlair is a Chartered Professional Accountant who has provided tax and financial advice for 48 years. He is unique in PEI because he focuses primarily on giving hourly based, fee-only financial advice as a Certified and Registered Financial Planner. He does not sell any investments, insurance, or other products, and does not receive any commissions or referral fees, thereby ensuring his independence and objectivity. Now semi-retired, his engagements are primarily one-time only meetings with older adults giving financial advice in the areas of retirement planning and long-term care matters, offering second opinions on the appropriateness of existing financial plans, and assisting with tax and estate planning, in addition to his financial divorce counselling. Blair considers himself a lifelong learner and also holds designations of Chartered Financial Divorce Specialist – Advanced Accreditation, Chartered Life Underwriter and Certified Health Insurance Specialist.
Blair has written numerous articles and provided many seminars on financial planning topics, and has his own web site (www.corkumfinancial.ca) with over 100 of his articles and useful links to help you ensure you are doing the right things with your money. He has been profiled in national magazines, quoted in a variety of publications, appeared as a guest on radio and television, and volunteers with several non-profit organizations.
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