Sunday, October 4, 2015

Let's Get Blunt About Your Financial Affairs: Book Review

I recently won a copy of Let's Get Blunt About Your Financial Affairs, by Mark Goodfield, courtesy of a fairly new to me Canadian financial blog, Boomer and Echo.

The book itself is actually "A collection of the best blog posts from The Blunt Bean Counter". I now have another new to me Canadian financial blog to peruse!

The book has posts published in it for people in every stage of life or finances.

About half of the book talked about some really interesting-to-me topics, including dividing family assets, not just on a financial level, but including the psychology of how kids or other beneficiaries will feel about the equality or non equality of distribution of assets.

Although I don't want to think about when my parents pass away - I'm hoping not for another 25 years - he has some really good info about the duties of being an executor of an estate. Note: There are a lot of duties!! This is something that I've never done, and have not really thought about. Between my husband and I, we have 8 parents, due to our parents ask being divorced and remarried, and I'm sure we will be responsible for much of this when the time comes.

On that same line, one of the chapters in entitled "Memory Overload, Alzheimer's , and Death in the Digital World" reminds me to make sure to put together secure info that outlines all of our own assets, and all the account numbers and/or online passwords for important things to make sure that we both know all info, and can cancel accounts as needed. It's super creepy when Facebook notifies you of someone's birthday or that they are waiting for you to play your turn in a game when they have died!!

Topics on personal taxes, RRSP's,  RRIF's , tax implications of transferring property, and dealing with CRA, are some of the topics that I deal with regularly with my own clients as their tax preparer.
There were also some higher level topics that don't apply to most people, but if you need info on Estate Freezes, Family Trusts or Holding Companies, there are some great chapters with info on these topics.

This probably isn't a book I would have picked out on my own, but I'm really glad that I had the opportunity to read it. I will be keeping it as a reference book for the future, and I'll definitely be checking out more of Mark Goodfield's topics at his blog The Blunt Bean Counter.  If you are interested in any of the above topics, both the book and /or the blog might be a good read for you too.


  1. Sounds like a good read - I am executor of my mothers estate so maybe I will pick it up to get an idea what I will be doing

  2. I so need to think about this stuff!


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