Finance - Estate and Financial Planning for Older Adults (Queens County)

This course will be taught over two sessions, each with a midpoint break. The two-part course will review the issues that you should be considering now as you plan the transfer of your assets to your loved ones (or to charity) late in life or upon your death. The instructor has designed the course based on common questions he has been asked, and unexpected financial issues faced by individuals (or their executors) because of what they did not know. Time for questions will be provided throughout the course. Part 1 will start with discussing the estate process and what happens upon death - how assets are transferred and the role of your Will. It will include a discussion regarding the special considerations related to your home, as well as a review of probate, joint ownership and use of beneficiary designations. In Part 2, we will review important issues to consider in drafting your Will, e.g., choosing your executor, as well as the importance of a Power of Attorney while you are living. We will cover additional issues related to your housing later in life, which may include remaining in your home, relocating to community care or moving to long-term care, and discuss the financial impacts of each. We will wrap up with an explanation of how taxes are triggered at death. If additional time permits, additional topics may be introduced, such as insurance, executor duties, CPP/OAS planning. The topics, and timing, may change based on the audience interest. This course will not discuss savings and investment matters, nor the timing of your RRSP withdrawals, which are covered in the course “Finance - Tax Planning for Older Adults.” It also excludes issues related to businesses, corporations and trusts.

Course Locations and Times

	Offering Period & Time	Location	Status
Fall	10/22/2024 - 10/23/2024 Tuesday, Wednesday 9:30 AM - 12:00 PM	Royalty Center Room #125 (125) 40 Enman Crescent CHARLOTTETOWN C1E 1E6	Wait List
Winter
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 upon his invitation to do so. Only questions of general interest to the audience will be discussed during the session.
Objectives	To provide you with an understanding (and advance warning) about the importance of a Will and Power of Attorney, and give you some guidance on financial impacts which you can control during your senior years.
Teaching Process	PowerPoint and Q&A
UPEI Parking Pass Required?	No
Additional Costs?	No
Additional Costs or Information	None

Course Facilitator

Blair Corkum

Blair 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.