Canadians are living longer than ever, and this means retirement can often last 30 years or more. It also means a greater chance for disabilities and health issues. Here are some things you can do to plan for these types of situations down the road.
It seems intuitive to think that if you were to become mentally or physically incapacitated because of an illness or accident, your spouse or partner could simply make decisions for you. But this is not the case. Without a court order or general Enduring Power of Attorney, your family members could not manage your healthcare decisions or finances.
To help protect your interests and desires, it’s important to have a Power of Attorney (mandate in Quebec).
A Power of Attorney is a legal document that lets you give another person (or people) the authority to act on your behalf. The Power of Attorney can be used to make key decisions about your finances, property and even your personal care.
For more information, see What is Estate Planning and Why Does It Matter?
If you’re like many people, you want to stay in your own home for as long as you can—forever, if possible! As you age, however, you may need to look at your home through a different lens. For example, would your home still work for you if you could no longer drive at night or comfortably walk up and down stairs?
Watch these tips to help make your home as safe as possible:
Retirement residences and nursing homes can cost big money! Even if you are perfectly healthy right now, you will thank yourself later that you planned for this type of situation.
Here are some things to think about in case you were to ever need care outside of your home:
Caregivers often face many challenges—managing work demands, navigating intricate family dynamics, burnout, guilt and more. If you’re a caregiver—or know someone who is—you’ll find some great tips in these videos:
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