A Client Story – Document Organization & Estate Administration

A Client Story – Document Organization & Estate Administration

A Client Story

John and Mary were married 65 years. They had three children. Mary looked after the paperwork and bill payments all through their married lives. Mary became ill and was in hospital for approximately three months before passing away. John was exhausted from the experience and thankful he had children who offered to help him with funeral arrangements. He had an idea of what Mary wanted and she had written down instructions….somewhere. Having downsized to move into a retirement village, so many papers had been chucked.

John needed help with getting their files, paperwork and bill payment information together in one place. He also needed assistance in finalizing Mary’s estate as Executor. He received assistance from a consultant with Financial Concierge Inc. in completing the Family Playbook™ and now has all of his important documentation and information in one place. The Financial Concierge™ also came alongside John to complete the administration of Mary’s estate and assisted him with arranging to have some of his bill payments done by automatic payment so he would not have to remember to pay these bills monthly or make the mistake of paying the same bill multiple times.

John now feels more confident about his financial independence and being able to age in place.

Contact us. We can help!

Please call us to chat if you have concerns about client, family member or friend. We are always glad to grab a quick coffee with you. 1 888 483 2176

Posted by Jill Chambers in Estate Administration, Money Management, Newsletter
A Client Story – Retired Businessman Hires Financial Concierge

A Client Story – Retired Businessman Hires Financial Concierge

A Client Story

John, a lifelong businessman, exclusively handled the family finances. Dealing with congestive heart failure, shortness of breath, signs of dementia, chronic pain and depression, the formerly astute businessman, was simply not feeling well and neglecting his personal or business affairs.

His long-time lawyer, accountant and business partners had been noticing for a while that he wasn’t on top of things like he always was. Their gentle reminders to him were acknowledged but not executed.He and his wife had their Power of Attorney drafted as instructed but a year later, when needing to activate Power of Attorney, it was still in draft form, not signed.

Missed payments, overpayment of credit cards and phone bills, stale-dated dividend cheques, partnerships and long-time company needing to be wrapped up.

Knowing his wife had never been involved in the family finances, John asked for help from Financial Concierge.

We got involved and:

    • organized all paperwork and important documents into a Family Playbook™
    • went through piles of mail to troubleshoot issues
    • filed bills and documents into his existing filing system
    • had stale dated cheques re-issued & set up direct deposit of future dividend payments
    • called credit card company and had the large overpayment sent to their bank account
    • consolidated gas and electricity bill saving fees and confusion
    • cancelled an air filter program he was being billed for but no longer using
    • set up online accounts for cell phones, utilities, banking
  • provided information to his accountant to proceed with winding up John’s company
  • collected & organized all personal tax receipts & delivered to his accountant for tax preparation
  • contacted a driving service to take him to medical appointments in the city

This type of situation is not uncommon. As you get older and have to deal with health issues, it’s a smart move to bring in assistance and let someone else handle it for once.

Jill Chambers, the President of Financial Concierge, says, “We are dedicated to providing assistance to and supporting our seniors in Canada. We see a growing gap in society as the ‘sandwiched’ generation struggles with taking care of their children, paying their own bills, and looking after their aging parents. We step in to fill those gaps and take care of the organization and administration of day-to-day issues so you and your family can concentrate on enjoying your time together.”

If you think you could use the help of Financial Concierge, book a consultation with us today!

Posted by Jill Chambers in Money Management, Newsletter
A Client Story – Elderly Man with Mobility Issues

A Client Story – Elderly Man with Mobility Issues

A Client Story

“Henry” is fortunate to have 4 adult children in his life. His wife pre-deceased him 2 years ago. One daughter lives out of province. In order to be equitable, Henry has listed Mary and Terry as joint Agents for his Personal Directive; Terry and Perry a joint Powers of Attorney; and Perry and Mary as joint Executors. Sounds good? Not really. None of the four siblings get along particularly well each having a variety of challenges in their personal lives from physical, to emotional, to financial. As a result, nothing is attended to in a timely manner.

Henry lives on his own with 24 hour in-home care related to mobility challenges. Assistance is required in organizing all aspects of his life from healthcare to personal care to finances.

We have stepped in to assist with everything so that the family can focus on their own challenges and just enjoy spending social time with Henry.

“Financial Concierge has been a god send for us! We were drowning and chasing our tails before you stepped in to help!”

Do you need help with your finances or other day-to-day challenges? Book a Consultation with us to see if we would be a good fit!

Posted by Jill Chambers in Money Management, Newsletter, Seniors Health and Wellness
AB Gov’t Coverage for Seniors Update & A Client Story

AB Gov’t Coverage for Seniors Update & A Client Story

In case you missed it…

The Government of Alberta is changing the eligibility criteria for Coverage for Seniors. Effective March 1, 2020, family members younger than 65 will no longer be covered by Coverage for Seniors. Albertans 65 years of age and older will continue to be eligible for Coverage for Seniors. If you have questions, contact the AHCIP office. For further information on the Coverage for Seniors program please visit the Alberta Health website.

Client Story

“Iris” is divorced and in her late 60’s with a chronic neurodegenerative disorder. She lives on a pension from her working years, owns her home and has no debt. Her son and daughter-in-law reside in the same city, are in their 40’s and both work full time. Despite giving her son $400,000 as an early inheritance, he has been back to borrow money. Her social worker contacted the local police authority when he refused to adhere to a re-payment schedule. A portion of the loan has been recovered and now neither son or daughter-in-law will communicate with her.

“Iris” is embarrassed, hurt and confused. She contacted Financial Concierge to be on her Care Team, as she calls us. We have been appointed as Agent for her Personal Directive; Enduring Power of Attorney and Executor. According to “Iris”, “I am overwhelmed by your support and how much stress this takes off me.”

Our client say, “I am overwhelmed by your support and how much stress this takes off me.”

Financial abuse of older adults is the most common form of abuse representing 62.5% of reported cases. NOTE: Only 1 in 5 cases of abuse are reported.* [Source: Statistics Canada and the National Institute on Ageing.]

Do you suspect someone you know is being abused financially? If so, book a consultation with us.

Posted by Jill Chambers in Financial Abuse, Newsletter, Seniors Health and Wellness
Nov 11th – A Day for Reflection, Connection and Appreciation

Nov 11th – A Day for Reflection, Connection and Appreciation

Remembrance Day is important to the Financial Concierge™ team, our clients and their families.  Many clients have lived through World War II and have family stories of sacrifice and loss.

At this time, we are all going through many challenges due to COVID-19.  The current situation is throwing us into extended isolation.  ‘Let’s take a moment to reach out to our friends and family on November 11th.  We need to stay connected as human beings.

Memories of past wars and wartime efforts take many back to memories of food rationing and adjusting manufacturing outputs to meet the changing needs of the country and soldiers.

Do you have a personal story to share or something your parents or grandparents talked with you about growing up? 

I remember my grandmother, born in 1905, reminiscing about her resentment of an older sister who wasted the family’s meagre ration of sugar to make chokecherry jelly.

Will we arrive at the store one day with nothing left on the shelves?  This type of fear can linger in our minds and hearts.

My daughter and son-in-law feel we will be fine: Grandpa makes wine; Uncle Jim has stockpiled paper & cleaning products; and they have a year’s supply of coffee beans!

No matter how resentful we are of the lock downs and restrictions in our daily life, we do need to appreciate our good fortune.

‘Let’s acknowledge life’s “abundance” with every inhalation and give “gratitude” with every exhalation during our moment of silence at 11:00 a.m. on Nov. 11th.

Posted by Jill Chambers in Newsletter