Wills

Wills services by public notary - KelownaA Will is a legally enforceable document that allows each person the opportunity to express individual 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 Estate Administration Act. The interests of most people are well served by what is called a "Simple" Will meaning that no trusts are created to last beyond the age of majority, 19 years in BC.


Learn more about Wills by visiting our FAQ's below. To assist in the preparation of your will, consider our Simple Will Starter (for BC only). If you have a question that has not been addressed here, please do not hesitate to contact us directly.

 

 

 

FAQ's - BC Wills

What would happen if I died without a Will?

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.

Why should I have a Will and what is involved in making one?

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.

What happens when there is a death in the family?

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.

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