Posts Tagged "Canada"

The Vulture Generation

Posted by on Mar 1, 2012 in Power of Attorney, Powers of Attorney | 0 comments

Originally published December 2010, Reader’s Digest magazine.  Copyright (c) 2010 by Reader’s Magazines Canada Limited. Further reproduction or distribution strictly prohibited. Reprinted with permission. The elderly and infirm routinely delegate control of their finances to family members but more and more Canadians are abusing that power. Can our aging population trust its own children? BY RISHA GOTLIEB On June 24, 2007, Tony Budkowski got an unexpected call from his mother’s nursing home in Oshawa. The home’s regular contact was Tony’s sister, Heather, but according to the...

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Tax Filing for Low Income Seniors

Posted by on Mar 1, 2011 in Financial and Tax Matters | 0 comments

Seniors may feel the effects of a major change in tax filing procedures for Canadians introduced for the 2012 tax year. As a cost-saving measure, the Canada Revenue Agency is “encouraging” Canadians to file our returns on-line. Beginning this year, paper forms will no longer automatically be mailed out! However, you have these other options: Pick up forms at a post office or Service Canada outlet (tax office). Download and print forms from the CRA website Order a copy from CRA by Internet or by phone. Call 1-800-959-2221. Note that the TELEFILE service has also been...

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Long Term (Care) Planning: It’s Not Just for the Old

Posted by on Feb 24, 2011 in Planning | 0 comments

Canadians have been quietly caring for their elderly for hundreds of years. Suddenly, however, it seems that long term care has worked its way from obscurity into the national limelight virtually overnight. If you consider the state of the country, the reasons are obvious. Canada’s population is aging rapidly. According to a Statistics Canada 2001 report the number of people aged 65 and over is expected to double from nearly 4 million in 2000 to almost 8 million by 2026. By 2016 at the latest, Canada will have far more seniors than children aged 14 and under, a phenomenon never before...

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Volunteering: Benefits for Seniors

Posted by on Feb 24, 2011 in Health Signals | 0 comments

Why do Canadian seniors volunteer? A survey of senior volunteers in Canada finds that 95% volunteer for a cause they believe in.  Seventy percent said they volunteered for a cause that had personally affected them. Some volunteered as a way to use their skill base and years of experience (81%). Others were looking for a way to explore their own strengths (57%).  What else motivates seniors to volunteer? Developing new skills and staying connected to their own passions inspires many seniors to volunteer.  Volunteering leads to meeting new people, staying active in the community, and serving...

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Definitions for POA and Health Care Directives

Posted by on Sep 8, 2010 in Planning, Power of Attorney, Powers of Attorney | 0 comments

There are two types of “power of attorney”: one for finances and one for decisions about health and personal care. Both documents are drawn up by a person with “capacity”, i.e. the ability to make reasoned decisions, who wants to decide on his or her wishes for future medical care and treatment and personal care – in the event they are not able to give informed consent. This document is also known as a living will or health care directive may, and may contain or include: Appointment of a “proxy” who will assume responsibility for ensuring the...

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