Estate planning
A Will is a legally enforceable document that allows you the opportunity to express your preferences, voluntary appointments and considered bequests to take effect upon death. In the absence of a Will, an Administrator would be established by way of court order then the fate of assets determined by the Wills, Estate and Succession Act (WESA); usually not what most people end up wanting. This is why it is important to make a Will. Our "simple" Wills allow you to name executors, guardians for any minor children and a basic division within the family. When we meet for our in person appointment, we’ll discuss your situation and you’ll get advice regarding your estate planning.
Learn more about Wills by visiting our FAQ's below. To assist in the preparation of your Will, feel free to contact us directly or if you have any further questions that have not been answered here.
Services
Wills - Through an interview process we draft a will document that explains the division of your estate for when you pass.
Naming Guardians for minor children.
How it Works
Frequently Asked Question
BC Wills
When a person dies without a Will, he/she is said to have died “intestate”. The Estate Administration Act sets out the protocol for the administration and division of assets under intestacy. Here is a basic outline: Your spouse gets the first $65,000.00 of your estate plus all joint property and 1/3 of any separate property. Your children get the other two-thirds. Your spouse will be the Guardian of your minor kids – but will have to post a bond to ensure that she uses their money for their benefit. She will also have to report to the court once a year (and pay their fees- fee schedule as administrator of an estate.) to render an account to show how, why and where she spent their money. The kids will be allowed to request an accounting of the money spent when they turn 19.
If your spouse remarries, the new spouse is then entitled to the first $65,000.00, all joint property, plus 1/3 of any separate property with no obligation to provide any more to your children.
Should your current spouse predecease you and you still have minor children then your family will get together and decide who will raise the kids. If they cannot decide who will be the Guardian, the Public Trustee's office can step in and appoint a stranger to be the children's guardian, and to take control of all of their money until they reach age 19.
Lastly you will be limiting your estate from being able to reduce taxes upon your death, as there are many legitimate ways of minimizing the tax paid to the government.
More information is available at the Public Trustee site.
A glossary and overview of the benefits of and steps in making a BC Will is available by reading the above or visiting the BC Ministry of the Attorney General site http://www.gov.bc.ca/ag/ . Additional information is contained in the pamphlet from The People's Law School.
Whether sudden or expected, it is difficult to be prepared for the loss of a loved one. This pamphlet from the People's Law School provides helpful information and practical considerations for the bereaved - Click here to view this pamphlet.