“Probate” is the legal process whereby a Will is “proved” in a court and accepted as a valid public document that is the true last testament of the deceased. In B.C., essentially the need for probate is determined by the policy of the agency or financial institution which holds an asset which is part of…
Estate planning for parents with a child with special needs is simply having a financial plan to guide you in making your financial decisions. It involves setting a goal and adopting strategies that will help to achieve that goal. No successful plan begins without an end in mind. Yet most estate planners never adequately address…
When selling property with elderly clients, it is important to consider the power of attorney, joint tenancies, and probate. 1. Determine if there is a valid Power of Attorney in place A Power of Attorney is a legal document that grants to a person (sometimes called the “Attorney”) the right to sell and dispose of […]
Most homeowners will have at least heard of the term “Joint Tenancy”. In British Columbia, when you own property with another person, you can own it as Joint Tenants, or you can own it as Tenants in Common. If you are Joint Tenants, you share the property completely and equally. If you are Tenants in […]
