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RRSPs, RRIFs, TFSAs and RESPs, as these assets
cannot be held by a trust. To cover both types of
assets, two types of administrative regimes would
have to be created, which may be of value in some
circumstances, but which will lead to additional
costs, such as the filing of financial reports and
trust income tax returns.
Conclusion
There are no ideal solutions for protecting seniors
facing a loss of capacity in a legislative context that
was designed prior to the social and demographic
realities of the 21st century. As long as your client
tolerates his daughter's encroachment on his
capital, there is not much you can do to protect
him unless you can prove that she is exceeding
her mandate or appropriating money for personal
purposes, or unless other family members become
concerned. This is a very delicate situation since
the rules governing the protection of personal
information do not allow you to disclose financial
information without the authorization of the client
in question.