With an increasingly aging population, issues around providing services, including financial advice to seniors, are becoming more important. While attention is often focused on funding retirement and wealth transfer to the next generation, susceptibility to fraud often goes unnoticed.
One of the most important documents you should have as part of your estate plan is an up to date power of attorney, otherwise known as a protection mandate in Quebec. This is a document that gives someone else the power to make financial decisions on your behalf if you are unable to. Needless to say, you need to give special consideration to whom you appoint as attorney or mandatary.