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Think Smart with TMFGAuthor: The McClelland Financial Group of Assante Capital Management Ltd.
Take control of your financial destiny with great insights, tips and advice from Senior Financial Planners Rob McClelland and Mike Connon at The McClelland Financial Group of Assante Capital Management Ltd. Language: en Genres: Business, Business News, Investing, News Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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Episode 336: 5 Money Mistakes Retirees Make When They Don’t Have a Will
Episode 349
Tuesday, 9 December, 2025
In this episode of Think Smart with TMFG, Mike Connon and John Iaconetti, Financial Advisors at The McClelland Financial Group of Assante Capital Management, discuss common estate planning mistakes and practical strategies for Canadians. They explore why having a properly structured will, appointing executors, and setting up powers of attorney are critical for a smooth estate transfer and for protecting your family. They also highlight the risks of dying without a will, including the government dictating how assets are distributed, potential family disputes, and delays caused by non-liquid assets, like cottages or other properties. They emphasize the importance of beneficiary designations, insurance strategies, and ensuring liquidity in your estate to manage taxes and unexpected costs efficiently. Ultimately, they stress the importance of documenting decisions and communicating with family members to prevent ambiguity, safeguard relationships, and alleviate stress for loved ones. They explain that a will and a power of attorney are separate tools, each with specific roles, and that acting while in full capacity is essential to avoid future complications. Careful estate planning is not just about money; it’s about protecting your family, preserving your legacy, and ensuring peace of mind. If you would like guidance on creating an estate plan tailored to your specific situation, please request a meeting here: Schedule your meeting here. Follow us on our social channels: LinkedIn: The McClelland Financial Group Facebook: https://www.facebook.com/tmfg.ca Instagram: https://www.instagram.com/themcclellandfinancialgroup_/
