Schreiber Seniors Learn About Estate Planning at Seniors Fair

The 2025 Schreiber Senior Centre Fair continued its series of workshops and presentations aimed at keeping seniors informed and prepared. While the first part of the event focused on home safety, the second part shifted attention to financial and estate planning.

The next presenter at the Annual Seniors Fair was Cody Atkinson, a wealth management professional from Investors Group. Cody delivered an engaging and informative talk to a group of seniors on the vital, yet often overlooked, topic of estate planning. His central message was clear: without proper planning, the government (CRA) could quickly become the primary beneficiary of one’s estate. His ultimate goal was to help seniors minimize taxes and ensure their wealth passed to the people they cared about most.

Cody encouraged audience participation, inviting questions at any time, and guided attendees through common pitfalls using vivid examples. He highlighted challenges for blended families, where a lack of planning can unintentionally exclude children from a former marriage, as accounts and beneficiary designations often roll directly to a new spouse. He emphasized the importance of regularly reviewing Wills and beneficiary forms to avoid complications.

A significant portion of the presentation focused on dividing physical assets, such as a family camp. Cody explained that property with large capital gains could trigger an unexpected and substantial tax bill that the estate might not have the cash to cover, potentially forcing a sale or mortgage. He suggested permanent life insurance as a cost-effective solution to cover these tax liabilities or to equalize the estate among heirs.

Finally, Cody covered essential legal tools, including the creation of a professional Will to designate an Executor and Guardian, and the critical use of Powers of Attorney for both property and health matters. He also cautioned against selecting an Executor or Power of Attorney who lives out of province, noting the complex legal requirements and potential bond fees that could arise.

Through practical advice, real-world examples, and an interactive approach, Cody’s presentation provided seniors with the knowledge and tools they need to protect their assets and ensure their wishes are carried out.