Estate planning is rarely on the top of anyone’s to-do list. People avoid it for many reasons: they are too busy, they don’t want to think about death, they don’t understand why they need to do it, or they think it doesn’t apply to them. Sound familiar? April 7 to 13, 2019 is Make-a-Will-Week in…
I recently received a letter from a reader asking what the consequences are of dying without a will? Surprising, just 55 percent of British Columbians have a signed, legally valid and up-to-date will. BC’s new Wills, Estates and Succession Act (“WESA”) dictates how your estate will be divided if you die without a will. It…
When did you last review your estate plan? Every adult should review their estate planning documents on a regular basis. The 3 essential components of an estate plan include Wills, Power of Attorney, and Representation Agreement. The nature of the assets comprising your estate will change over time Federal and provincial laws which will affect your…
Just over one half of B.C. adults have a valid Will, yet many of us fail to regularly review our estate planning documents to ensure that they continue to reflect our current situation and wishes. Updating your will is important. A comprehensive personal and estate plan for B.C. adults includes not only a Will, but…
There is no such thing as a “basic” or one size fits all estate plan. However, I rarely meet a new client who doesn’t think their situation is “very simple” and all they need is a “basic will”. In my experience the majority of clients have one or more special considerations for estate planning that…
As soon as the warm spring weather arrives, so do the scores of Albertans, seeking sun, golf, boating, great food and wine. It’s a well-understood phenomenon in the Okanagan that many Albertans choose to invest in a vacation property in BC. However, the implications of estate planning for Albertans who own property in BC are…
Parenting a child who lives with mental illness or addiction can be heartbreaking, challenging and exhausting for parents and other family members. Once an adult, a child living with mental illness or addiction can create a lifelong emotional and financial commitment from the parents. When engaging in estate planning, a parent with a child living…
One of the more difficult parts of Estate Planning involves naming a guardian for your children. The task of appointing someone to care for your minor child (under 19 years in B.C.) after you are gone can be an understandably difficult decision to make. Nonetheless, this is a decision that will be critical in the…
An executor is the person named in a Will to carry out the directions contained in the Will. The executor is responsible for settling the person’s affairs after death and is accountable to the beneficiaries and those entitled to benefit from an estate. If you are asked by a will maker to act as an…
When your child is under the age of majority, you — as the parent or legal guardian of your child — get to make various decisions on their behalf and plan for your child’s future. However, this changes when your child becomes an adult. The age at which a child passes into adulthood varies from…
