EP 69 - Being a POA or Executor Pt. 2: The Executor

When someone passes away, the power of attorney’s role ends and the executor’s begins. In Part 2, Ashley Harmon of Hogarth Hermiston Severs LLP walks through what an executor should do first, what probate really is, and how beneficiary designations can end up working against the will you spent hours putting together. We cover: The first steps when you’re named executor, and why an early meeting with a lawyer helps What probate is, why it exists, and why going out of your way to avoid it can backfire When an executor can be on the hook for an estate’s debts or taxes, and what a clearance certificate is How executors are typically compensated Beneficiary designations on RRSPs and RRIFs, and how they interact with your will Why your lawyer, accountant and advisor should be working together Guest: Ashley Harmon, Partner, Hogarth Hermiston Severs LLP Host: Ben Davies, Davies Financial Disclaimer: For general information only. Not financial or tax advice. Limits are subject to change — speak with a qualified advisor. For legal questions about your own situation, speak with a lawyer.

Most people find out what it means to be a power of attorney on the day they’re asked to do the job, and that’s rarely a good day. In Part 1, Ben sits down with Ashley Harmon, a partner at Hogarth Hermiston Severs LLP in Windsor, to talk through what you’ve taken on when someone names you, and what to think about if you’re the one doing the planning. We cover: The three roles people mix up: power of attorney for property, power of attorney for personal care, and executor “Effective immediately” vs. “springing” powers of attorney, and where a capacity assessment fits in Why putting a child joint on your accounts isn’t the same as naming them power of attorney Naming two people “jointly” vs. “jointly and severally” The standard a power of attorney is held to, and why keeping records matters Guest: Ashley Harmon, Partner, Hogarth Hermiston Severs LLP (estate planning, probate, estate administration and litigation) Host: Ben Davies, Davies Financial Disclaimer: For general information only. Not financial or tax advice. Limits are subject to change — speak with a qualified advisor. For legal questions about your own situation, speak with a lawyer.

A review in the fall gives you something a January review can't — time to act on what you find. This episode covers a full check-up: a cash flow review using the categorization your bank has already done, a realistic approach to emergency savings, and the registered accounts with December 31 deadlines. That includes the FHSA, where room only starts building once the account is open, RESP grant timelines that end sooner than most people expect, the RDSP match, and TFSA withdrawal timing that can cost or save you a year of contribution room. We also get into RRSP contribution versus deduction timing, tax-loss harvesting and the superficial loss rule, and how to fund holiday spending over the next 15 weeks rather than in December. Four months is enough time to make a few of these decisions well. Informational purposes only — not legal, tax, or financial advice.

Downsizing in retirement sounds simple — sell the big house, buy something smaller, pocket the difference. In reality, it's one of the most emotional and financially complex decisions Canadians face. In this episode, Ben Davies sits down with real estate agent Alyssa Ismail, mortgage brokers Rob and Sandra Zanet, and real estate & estate lawyer Sebastian Schmoranz for a 360-degree look at what it really takes to make the right move — and the costly mistakes people make when they try to go it alone. In this episode: Rent vs. own in retirement — including the landlord risk most people never think about The hidden costs that quietly turn a "downsize" into an accidental upgrade Carrying a mortgage into your 70s, 80s, and beyond — and when it actually makes sense Reverse mortgages: how they really work, who they're for, and what to watch out for Estate myths that cost families dearly — probate, putting your kids on title, and joint bank accounts Multi-generational living and ADUs: the pros, the tax traps, and the cleanest way to set it up

In Part 2 of our 2026 Real Estate Round Table, we are diving deep into the essential programs and strategies you need to know if you're looking to enter the housing market. We are once again joined by our incredible local expert panel: Sebastian Schmoranz (Lawyer, Kingsville), Alyssa Ismail (Real Estate Agent, Windsor Essex), and Rob & Sandra Zanet (Mortgage Brokers, Indi Mortgage Co.). In this episode, we cover: • Navigating the First Home Savings Account (FHSA) • Leveraging the RRSP Homebuyers’ Plan • Breaking down the new Federal/Provincial HST rebate for new home builds and significant renovations Important FHSA Note: While contribution room accumulates when you open an FHSA, you can only contribute a maximum of $16,000 in any given year ($8,000 for the current year plus $8,000 carried forward). Keep this in mind if your strategy is simply to open the account to let the room build! If you missed Part 1 covering our comprehensive Windsor Essex real estate market update, be sure to go back and give it a listen. Subscribe and leave a review if you found this episode helpful!

Welcome back to The Clear Money Mindset with Ben Davies! We are kicking off a highly anticipated, multi-part series: our annual Spring Real Estate Roundtable. In Part 1, we are diving deep into the current state of the Windsor-Essex real estate market. Whether you are looking to buy or sell a home in 2026, you'll hear essential tips, market trends, and insider insights to help you make the best financial decisions. Joining Ben for this premier series is a powerhouse panel of local experts: • Sebastian Schmoranz – Lawyer (Kingsville, ON) • Alyssa Ismail – Real Estate Agent (Windsor-Essex) • Rob & Sandra Zanet – Mortgage Brokers, Indi Mortgage Co. (Windsor-Essex) Coming up later in this series: Make sure to subscribe so you don't miss our upcoming roundtable episodes where we'll cover incentives for first-time home buyers, and a special deep dive for retirees (including downsizing, reverse mortgages, and keeping a mortgage in retirement). Tune in and get your mindset ready for the 2026 market!

Tax season is almost here, and there are significant changes on the horizon for Canadian taxpayers. In this episode of The Clear Money Mindset, Ben sits down with Josie Hope, CPA, CMA and owner of JH Business Solutions, to break down exactly what you need to know before you file. From the new "Middle Class Tax Cut" reducing the lowest marginal rate to 14%, to the often-overlooked tax implications of buying and selling precious metals like gold and silver, we cover it all. Josie also shares critical advice for pension holders who might be over-contributing to their RRSPs and explains the latest updates to the Canada Disability Benefit. In this episode, we cover: The Middle Class Tax Cut: How the rate reduction from 15% to 14% impacts your take-home pay starting July 2025. Disability Tax Credit: Updates to the benefit amount (now over $10,000) and how to transfer credits to a supporting family member. Precious Metals: Why the CRA treats gold and silver as capital assets and the importance of keeping your receipts. The RRSP Trap: Why having a good pension might mean you should think twice before maxing out your RRSP. Filing Tips: How to organize your T4s and receipts.

Are you confused by financial jargon? Do you know the difference between a stock and an RRSP? In this episode of The Clear Money Mindset, host Ben Davies goes back to basics on the Registered Retirement Savings Plan. We break down exactly how an RRSP works, why it’s described as a "container" rather than the investment itself, and how it can help you lower your tax bill today while saving for tomorrow. In this episode, you’ll learn: A "Container": Why an RRSP isn't an investment itself, but a home for your stocks, bonds, and ETFs. Tax Hacks: How contributions reduce your taxable income (and might even boost benefits like the Canada Child Benefit). Strategic Planning: The difference between Individual and Spousal plans and when to use them. RRSP vs. TFSA: A simple comparison to help you decide where to put your money first. Hidden Perks: How to use your RRSP to buy your first home or fund your education. Whether you are rushing to meet the contribution deadline or just starting your financial journey, tune in to ensure you aren't missing out on potential tax savings!

Welcome to The Clear Money Mindset with Ben Davies. In this episode, recorded just before Thanksgiving, we explore the practical and personal benefits of charitable giving—especially how it can positively impact your finances and reduce your income tax in Canada. Listeners will learn: Why charitable giving adds purpose to your finances and helps support causes you care about. How charitable donations can teach children that money isn’t just about personal gain. The mechanics of Canada’s donation tax credits, including federal and provincial rates, eligibility, and strategies for maximizing your tax benefit. Special considerations for high-income donors, donations of publicly traded securities, and unique credits for farmers in Ontario. Practical examples, such as how a $1,000 donation can result in significant tax savings, and tips for carrying forward donations or grouping them with a spouse. If you’re among the many Canadians who donate to charity but aren’t sure how it helps at tax time, this episode will give you clear, actionable insights to thrive financially while making a difference.

In this episode of The Clear Money Mindset, host and Financial Advisor Ben Davies breaks down everything you need to know about the Tax-Free Savings Account (TFSA). We cover the basics of what a TFSA is, how contribution limits work, the wide range of investment options available, and common pitfalls to avoid. You’ll also learn practical strategies to maximize your TFSA—whether that’s growing your retirement plan, saving on taxes, or making the most of investment opportunities. Are you really getting the most out of your TFSA? Tune in to find out.