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Act Now – 10 Things to Save your Estate $1000s of Dollars!

licensed pre funeral planner MississaugaAn adult son called me today asking about what he could do and how to start organizing his mother’s affairs. His mom now has advanced Alzheimer’s and before her cognitive decline she drafted a valid Power of Attorney for Property and Personal Care and a valid Will. Here are my suggestions for 10 ways to save your estate $1000s of dollars if you act now.

1. Have a valid Power of Attorney for Property. This is a powerful document that allows the named POA to act on your behalf and manage your financial affairs.

2. Have a valid POA for personal care. This document names the POA who may make medical, treatment and care decisions for you if you are unable to do so.

3. Have an Advance Care Directive. This is not a legal document, yet it outlines your preferences concerning your housing, safety, nutrition, care.

4. Preplan and prepay your funeral. Especially if you live in Ontario, the 2012 Funeral Burial and Cremation Services Act now mandates that funeral homes must guarantee the fully prepaid goods and services selected, when they are provided at the time needed.

5. Have a valid will. When you name an Executor or Estate Trustee, this person is your legal voice when you die.

6. Name a Beneficiary and second Beneficiary on your Life Insurance Policies.

7. Stream line your banking.

8. Stream line your investments.

9. Streamline your credit, charge, rewards and affinity cards. Do you need or use all these cards? If not, close them off now.

10. Keep a current list of your passwords

Are you wondering why these items are important? Do you need assistance? Would you like to know more? Please feel free to connect with me. You can reach me by phone or email, leave a comment right here on the site or click the contact tab at the bottom of the screen if you are reading this post on the website. I look forward to hearing from you.

Until next time,

Kat

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