Financial Essentials

Make sure you check:

Government pensions and assistance. Does your community have a one-stop seniors' information centre? If not, consult the local Income Security Programs office of Human Resources Development Canada (1-800-277-9914) for information on the spousal allowance and other programs. The Canada Mortgage and Housing Corporation (1-800-668-2642) as well as your provincial ministry of health and ministry of social services could be helpful resources.

Your tax situation. You may be entitled to receive caregiver and medical expense tax credits. Your financial advisor or accountant can discuss federal and provincial tax credits that are applicable to your situation.

Insurance. Your financial adviser or one of his/her colleagues may offer plans covering home care and support as well as personal care not funded by public programs. Alternatively, you might self-insure by earmarking investment money in advance.