CLIENT SITUATION

The People: Leon, 80, and Melanie, 70.

The Problem: How to arrange their investments to make things as easy as possible for Melanie if and when Leon dies and she is on her own.

The Plan: Communicate. Leon needs to tell Melanie what they are invested in, how to access their investments and why they hold them, among other things. Consider switching their entire holdings to one or two funds of funds, whether balanced ETFs or low-fee balanced mutual funds.

The Payoff: Peace of mind for both of them.

Monthly net income: As needed.

Assets: Bank accounts $16,440; GICs, cash equivalents $82,100; joint nonregistered investments $607,344; his

non-registered $214,470; her non-registered $325,060; her mutual funds $17,200; his TFSA $142,300; her TFSA $138,800; his RRIF $128,770; her RRIF 228,960; estimated present value of his DB pension $360,400; estimated present value of her DB pension $616,600; residence $800,000. Total: $3.7-million.

Monthly outlays: Condo fee (includes heat and hydro) $1,515; property tax $235; home insurance $65; maintenance, garden $330; transportation $575; groceries $610; clothing $190; gifts, charity $140; vacation, travel $540; other discretionary $25; dining, drinks, entertainment $685; personal care $160; club membership $160; golf $215; subscriptions $40; doctors, dentists $350; prescriptions $85; vitamins, supplements $60; health insurance $290; communications $195; TFSA $110. Total: $6,575. Liabilities: None.