| Finally...Show
Your Concern
We
all want to give loved ones the best possible quality of life
in their later years. Whether you choose to provide the care
yourself or through others, stay thoroughly informed and actively
involved. Take the initiative now to determine your parents'
wishes and then make plans to maximize their health and financial
well-being. Your concern is one of the greatest gifts you'll
ever give them. Starting early with your financial preparations
will ease the burden considerably when the time comes that
caring for an older person requires additional expenditures.
And due to the power of compounding returns over time, starting
early means you can provide the same level of care down the
road, but with a smaller investment and fewer sacrifices along
the way.
A
life checklist for you and your parents
Compose
a list including the following information about you and your
parents. Tell a family member or trusted friend where it is
kept; it could be valuable in the case of a medical emergency.
- Social
Insurance Number
- Health
card
- Driver's
licence
- Bank
account/location
- Investment
information - such as stock certificates, mutual fund statements
- Income
sources such as pensions, annuities
- Household
expenses - mortgage, utilities
- Tax
information - federal, municipal (returns and receipts)
- Insurance
policies
- Extended
health policies
- Prepaid
funeral plans
- Passport,
citizenship, marriage, divorce papers
- Deeds
- Powers
of attorney
- Will
- Doctor(s)
(there is currently no guarantee that files are shared among
Canadian doctors)
- Financial
advisor
- Lawyer
- Accountant
- Names
and phone numbers of neighbours or friends who live close
by
- Place
of worship
AIM
and your financial future
Complete financial planning isn’t about choosing mutual
funds or other investments. It should be about what you want
out of life. Once that’s clear, your financial advisor
can help you match your investments to your needs.
AIM offers
a broad range of products to reflect your evolving financial
needs. We recognize that the investment decisions you’ll
make during your lifetime can be challenging. As a result,
we are committed to working closely with financial advisors
to help you reach your life goals. Part of that commitment
involves producing materials such as this. For more information
or to obtain these materials, please contact your financial
advisor or call AIM at 1.800.874.6275.
| Experts
Consulted
AIM
would like to thank the following for their help in
preparing this material:
- Gloria
Dixon, manager, specialized services, for Age
and Opportunity, Winnipeg
- Lorna
Hillman, executive Director of the Family Caregivers'
Network Society, Victoria
- Rhonda
Katz, family therapist, Toronto
- Fran
Kleiner, MSW, CSW certified
- Anne-Marie
McLauchlam, estates lawyer with Dale Lessman,
Toronto
- Elaine
Pantel, principal with Baratz Judelman, chartered
accountants, Toronto
- Margaret
Ringland, director, regional relations, for the
Ontario Association of Nonprofit Homes and Services
for Seniors.
|
| Structuring
an effective will is not intended to provide legal, accounting,
tax or specific investment advice. If such advice is required,
the services of a competent professional should be sought
before any action is taken. The information presented
was obtained from sources believed to be reliable; however,
AIM Funds Management Inc. cannot represent that it is
accurate or complete. Designed and paid for by AIM Funds
Management Inc.
AIM Funds Management Inc. assumes
no responsibility for any losses, whether direct, indirect,
special or consequential that arise out of the use of
this information. This information is subject to change
without notice.
AIM,
AIM FUNDS and the AIM FUNDS logo are trademarks of A
I M Management Group Inc. and are used under licence
by AIM Funds Management Inc. TRIMARK, TRIMARK INVESTMENTS
and the TRIMARK INVESTMENTS logo are trademarks of AIM
Funds Management Inc.
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