Elderly parents with no license or passport?

Recently we have seen an increase in introductions from clients to their older/aging parents.  We are also seeing an increase in the number of clients becoming the power of attorney for their aging parents' financial affairs. In either case, this usually results in the parents becoming clients of Endeavour Wealth, where step one after getting to know their needs, is to open accounts. A common scenario we are have seen in this process is the absence of any government issued photo ID.  

You might find this a little odd, to have absolutely no photo ID.  But we all know with aging, usually comes a slowing of reaction time and or movement, which can affect the ability to drive safely.  Many just no longer need to maintain a valid drivers license. Individuals can also find themselves travelling less due to health and or insurance reasons.  If you're not planning on leaving Canada, then there really is no need to apply for a passport once it expires. This may have never been a problem for your parents if they had been dealing with their local bank branch or credit union for years.  But if you are guiding them through a switch of advisors today, financial institutions will absolutely need to verify their identity.

Today I wanted to highlight one of the best alternatives if someone no longer has a driver's license or passport. There are other ways to verify an individual's identity, but the Manitoba Identification Card (MIC) is easy to apply for and acts just like a driver's license, reducing any back and forth between the client and the advisor. Plain and simple, it's the easiest and will be accepted across the board.  It looks and acts just like a driver's license.

What is the Manitoba Identification Card (MIC)?

It's a secure form of photo identification used to prove an individual's identity and Manitoba residency.  It is not required; application is completely voluntary. It's important to note that the Manitoba Identification Card is not the Enhanced Identification Card (EIC).  Manitoba Identification Cards CANNOT be used to cross the border, whereas with the Enhanced Identification Card you can.  If the individual needs ID to cross the border, the EIC process may be a better fit.  If not, the MIC card is easier and cheaper to get.

What information is found on the card?

Full name, address, date of birth, gender, eye colour, height, photograph, signature, date of issue and date of expiry (the card expires every five years).

Who can get the card, what does it cost, and where do you go?

Anyone who is a Manitoba resident, entitled to be in Canada, and does not already hold a driver's license or Enhanced Identification Card (EIC) can apply for $20.  If someone does hold either a driver's license or an EIC and would like to replace it with a Manitoba Identification Card,  either can be can surrendered for $10 (this is free for individuals 65 years of age or over).  Applications to apply can be done at a Manitoba Public Insurance Service Centre or a local Autopac agent.

What documents are needed?

Documents will be required to prove legal name, birthdate, signature, Manitoba residency (documents proving residency are required to be no older than 90 days), and entitlement to be in Canada. Several documents can be used to prove the above, however they must be original copies of the documents.  A passport style photo will also be required. I have included a link to MPIs website which provides an in depth list of documents that are acceptable for confirming the above information: Acceptable Identification Documents

What happens if someone cannot provide one of the acceptable documents to prove the photograph, signature or residency?

In certain cases, Manitoba Public Insurance will accept a guarantor declaration. A guarantor declaration may also be used as a supporting document for Manitoba residency if you only have one approved document with your address on it.  Copies of a guarantor declaration can be found at mpi.mb.ca or visit either an Autopac agent or Manitoba Public Insurance Service Centre.

Summary

This type of card is highly recommended for individuals without any form of government issued photo identification. I can only speak for the world of financial planning and investing, but I'd assume that this card will come in handy more places than one. Similar ID cards are available to residents of most other Canadian jurisdictions, typically through the body that administers driver licensing services If you'd like to read more detail information on the process, I've included a link to a detailed brochure released by Manitoba Public Insurance: Manitoba Identification Card

- Brandt Butt, Investment Advisor

Brandt Butt is an Investment Advisor at award winning firm Endeavour Wealth Management with Industrial Alliance Securities Inc. Together with his partners he provides comprehensive wealth management planning for business owners, professionals and individual families.

This information has been prepared by Brandt Butt who is a Investment for Industrial Alliance Securities Inc. (iA Securities) and does not necessarily reflect the opinion of iA Securities. The information contained in this newsletter comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell any of the securities mentioned. The information contained herein may not apply to all types of investors. The Investment Advisor can open accounts only in the provinces in which they are registered.