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Estate planning for singles—is a trust company the answer?
– moneysense.ca
I am a 60-year-old single woman with no children. I am an only child and have no siblings, nieces or nephews. I have a lot of friends and most of them are my age. I am planning to update my will soon and I am considering naming a trust company (if that is the correct name) as the executor of my estate. I am trying to figure out how to select a reputable company, what to look for and how it works.
—Michèle
When people prepare their power of attorney (POA) or their will, they tend to name family members as their attorneys or executors. A spouse is a natural first choice, followed by one’s children if they are old enough. Siblings are good options as well. In your case, Michèle, it is tricky, and you must consider alternatives.
Roles and responsibilities to consider
A power of attorney, personal directive, mandate or similar estate planning document names someone to make financial and health care decisions on your behalf. The role generally comes into effect if you can no longer make decisions on your own due to a health issue or loss of capacity…
The best high-interest savings accounts in Canada for 2024
– moneysense.ca
Find the best and most up-to-date savings rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.
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Best high-interest savings account rates in Canada
Generally, savings accounts offer very low interest rates. So, if you want to earn on your deposits (rather than simply using your account as a temporary “holding tank” or directing to longer-term saving and investing vehicles), a savings account with a high interest rate is a no-brainer…
The best GIC rates in Canada for 2024
– moneysense.ca
Find the best and most up-to-date GIC rates in Canada using the comparison tool below. Plus, use the filters to assess your estimated rate of return based on the size of your balance.
Why trust us
MoneySense is an award-winning magazine, helping Canadians navigate money matters since 1999. Our editorial team of trained journalists works closely with leading personal finance experts in Canada. To help you find the best financial products, we compare the offerings from over 12 major institutions, including banks, credit unions and card issuers. Learn more about our advertising and trusted partners.
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Frequently asked GIC questions
Here you’ll find the answers to common GIC questions, along with information on the best GIC rates available right now. If GICs are new to you, and you want to learn everything there is to know, start by reading our guide below.
Where are GIC rates headed during the end of 2024?
On Sept…
