Preparing for the unexpected death of a spouse
GAIL BEBEE | Globe and Mail Update | Published
Video: Financial planning tips for spousal survivors
According to Jason Heath, a financial planner at Objective Financial Partners Inc., the biggest mistake many couples make is not ensuring that both spouses are knowledgeable about the family’s financial affairs. An up-to-date inventory of family financial data can help overcome this shortcoming. The inventory should include information such as bank accounts, insurance policies, property deeds, vehicle ownership, mortgages and other debt, social insurance numbers, marriage and birth certificates and credit cards along with the location of all relevant documents. Both spouses and the executors of their wills should be aware of and have easy access to the inventory. read full article
This article is intended for educational purposes only and does not constitute personalized advice. The strategies and information discussed may not be suitable for your individual situation or may not be up-to-date and current. Please seek guidance from a licensed professional for advice specific to your circumstances.
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