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Financial Planning: Housing, Care Options, and Your Home — What Older Adults Need to Know (Prince County)

A practical single session course on staying at home, moving to community care or long term care, and the financial implications of selling, gifting, or transferring your home. Housing and care decisions can feel overwhelming — especially in a small province where family homes, cottages, and lifelong savings carry deep personal meaning. This session provides clear, practical guidance on the financial realities of staying in your home, downsizing, or transitioning to community care or long term care on PEI. We will review the differences between community care and long term care, who may qualify for government subsidies, and how income and assets are assessed. You will learn whether your home or other property may be at risk, and what supports exist to help you remain at home safely. A major part of the session focuses on the tax and financial implications of selling, gifting, or transferring your home or cottage — including joint ownership, life interests, and transfers to children. We will discuss how these decisions can affect your principal residence exemption, trigger unexpected tax costs, or create risks if your children or co-owners experience financial difficulties or personal disagreements (before or after your death). If you are holding real estate (or other assets) in joint name or on behalf of a parent or child (i.e., in trust, whether formally or informally), you may also wish to attend the course: Financial Planning: Hidden Tax Traps in Home Ownership, Joint Title and Informal Trusts.

Course Locations and Times

	Offering Period & Time	Location	Status
Fall	11/04/2026 - 11/04/2026 Wednesday 1:00 PM - 3:30 PM	Eptek Art & Culture Centre 130 Heather Moyse Dr SUMMERSIDE C1N 5Y8	Not Open Yet
Winter
Spring

Requirements	It may be useful to make note of whether your properties are owned by you, jointly with your spouse, jointly with your child(ren) or other wise. If joint owned, are they joint with right of survivorship or joint as tenants in common? Also, look at your tax return and that of your spouse and make note of the amount on line 23600 (net income). Write your questions down in advance and bring them with you, or send them to the instructor if invited. Cancel early if you cannot attend.
Objectives	To give older adults a clear understanding of the financial issues involved in staying at home, moving to care, and transferring or selling property. Participants will learn the pros and cons of various alternatives and the tax implications of different types of property transfers.
Teaching Process
UPEI Parking Pass Required?	No
Additional Costs?	No
Additional Costs or Information

Course Facilitator

Blair Corkum

Blair Corkum is a Chartered Professional Accountant with 50 years of experience helping Islanders navigate tax and financial decisions. He provided hourly, fee-only financial planning — offering completely unbiased advice with no product sales or commissions. Until his recent retirement, Blair focused on one-time consultations with older adults, offering second opinions on financial plans and guidance on retirement, long-term care, tax, and estate matters. He also holds designations as a Registered Financial Planner (R.F.P.), Certified Financial Planner (CFP), Chartered Financial Divorce Specialist (Advanced Accreditation), Chartered Life Underwriter, and Certified Health Insurance Specialist. Blair is passionate about volunteering his time to deliver financial seminars for older adults, helping them make informed, confident decisions for their future. He promotes financial literacy through writing, community presentations, and advisory work with non-profit, federal, and provincial organizations. Blair has been featured in television, radio, and print media, and shares practical resources on his website, www.corkumfinancial.ca.