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As the National Post has put it, stepfamilies are becoming the “new normal” in Canada. This is made evident by the fact that in 2011, the census counted stepfamilies for the first time, revealing that 12.6% of families in Canada are stepfamilies. With this ever-expanding family category comes expanded estate planning considerations. It’s not surprising … Continued
Whether you’ve been named the executor of someone’s will or you are drafting your last will and testament and need to choose one for your estate, keep in mind these essential qualities of an executor. Though every will needs an executor, not every person is prepared to be one. For guidance on your specific situation, … Continued
Although we all recognize the need to draft a will to make sure our assets and belongings are passed along to our loved ones, it is easy to overlook the same need to prepare our “digital estates.” However, less than 30 years since the Internet became publically available, digital planning with your wills and estates … Continued
Disinheritance occurs when a person legally excludes someone from their will who would normally be considered an heir. This includes spouses, children, and grandchildren. Drafting a will in which you disinherit a child requires an intricate knowledge of the British Columbia legal system to avoid the possible redistribution of your estate under the Wills Variation … Continued
Although a will is intended to outline a person’s last wishes in full, settling an estate can nevertheless be a complicated process. 1. “Executor” is a complex role Often the testator (the person who made the will) will choose an executor (a person appointed to carry out the will) who has a law or accounting … Continued
The most secure way to prepare your last will and testament is with a wills and estates lawyer. While it is possible to write your own, a do-it-yourself will is no comparison for one drafted under guidance of a legal professional. A lawyer will take into account factors about estate planning you are most likely … Continued
There are many factors to consider when estate planning in British Columbia. This is especially true if you’re a small business owner. When Estate planning you must keep your small business in mind in order to save your partners legal hassle, help to reduce taxes, and provide guidance for any heirs to your company. Hiring … Continued
Setting up a trust happens for several reasons. These include ensuring family members’ financial stability in the future, donating funding to a favourite charity, and providing security for a dependent who has disabilities. A trust is a legal relationship in which one person (the “settlor”) declares that some of their assets are to be used … Continued
Ideally, an executor of a will has told their family where their will is kept. But this isn’t always the case. If you can’t find the will of your relative, things become more complicated at an already difficult time for the family. The most common place people keep their will is in a safe deposit … Continued