1. Canadians are faced with increasing need to personally manage their finances, stressful family dynamics due to economic volatility and aging accompanied by health and relationship changes
  2. The increasing rate of technology and process changes by businesses including financial institutions are a barrier for older persons and increase their vulnerability to financial errors or security breaches
  3. Personal bankruptcy rates for those age 55 and older are increasing rapidly due to medical expenses and credit mismanagement and this older group is least likely to be able to find additional ways to earn income and are unable to help younger family members when life problems such as child care challenges or job loss occur
  4. Deterioration in financial management skills may occur prior to any noticeable cognitive or functional change and result in material financial loss or increased vulnerability to financial abuse or manipulation
  5. The increasing rate of intergenerational transfers of money both living and within an estate place family relationships at increasing risk of fracture and are exacerbated by complex family ties due to divorce, remarriage and co-habitation