McBride: Protecting your RRIF in case you develop dementia
What would happen to your registered retirement income fund (RRIF) if you had dementia?
Let’s say, for example, you or your parent is age 88 with a $500,000 RRIF. Having a RRIF means that an older person remains responsible for deciding how to invest and how much to withdraw each year.
With the increased possibility of diminished mental capacity as we get older, we might fail to make wise investment choices. Worse yet, we could become vulnerable to financial abuse. It would be nice to know
Read more »