All About Estates

The Elephant in the Room

I recently had the pleasure of participating in a national speaking tour – Living longer, living better – along with Patty Randall. The tour was hosted by HollisWealth to help celebrate its new identity.

Patty has been described as “one of the pre-eminent experts, writers, speakers and media commentators on the issue of care in Canada”. Patty is the author of “Let’s Talk – The Care Years: Taking Care of our Parents, Planning for Ourselves”. The book is based in large part on her personal story of caring for her parents and other family members for more than a decade.
Patty’s presentation is at once uplifting, daunting and entertaining. It’s uplifting to learn about the “longevity bonus” (aka “middlescence”), empowered healthcare “clients” and healthy aging. It’s daunting to learn about the impact longevity can have on families and their finances. The entertainment includes a – surprisingly relevant – steamy strip poker video!

The common theme in our respective presentations is the importance of planning. The focus of my presentation is on the importance of comprehensive estate planning, including a plan for potential future incapacity (for most people this means preparing Wills and Powers of Attorney for both property and personal care and appointing “the right” executors and attorneys). Patty’s focus is on the need to plan for the care-years – what Patty describes as the elephant in the room. Key elements of a viable care-years plan include: choosing a care manager (Patty is adamant that family should function as care managers, not care givers) and funding for the plan.

To learn more, visit long term care Canada.  Patty’s website contains lot of interesting news, statistics and stories. You’ll find information on care-related government programs (and how to access them); living benefits insurance, including critical illness and long-term care insurance, trends in positive aging, tips on “remaining ageless” and why women need to pay special attention to their own care.

About Elaine Blades