June 2015 - Garton & Harris

Filing a will notice needs a solicitor’s help

June 29, 2015/in Wills/by gartonandharris

Having a will in place when you pass away not only gives a guideline to your children but can give you peace of mind. There is an agency called the Vital Statistics Agency that maintains the wills registry in British Columbia.

You can use this registry to register the location of a will or search for a wills notice if you are in the process of having a loved one’s will probated. This is a necessary part of probating a will so don’t forget it or you will be behind the power curve in a big way.

Of course, having a solicitor who takes care of all the details for you can be a huge help. You need time to grieve your loss and help others with their loss as well. Letting a legal professional take care of this will be a stress reliever.

The way you file a wills notice is to be sure and put your full legal name and birth date on the form. You will need to know the date the will was signed and the location of this will. The last bit of information you need to provide is the date you filed the will notice with the Agency for Vital Statistics.

You can file this yourself if you are over 19 years of age. If you are married and under the age of 19 you can also file this form yourself; if you are under 19 years of age and are in the Canadian Forces on active duty you may file this form yourself.

A lawyer can file this form on your behalf at any time. Again, having someone who has knowledge about this process and when it needs to be done can be a great comfort. You may not feel up to dealing with a government agency at this time.

Source: Province of British Columbia, “Wills Registry,” accessed June 29, 2015

Power of attorney needed for your peace of mind

June 22, 2015/in Power of Attorney/by gartonandharris

When you have a will, often within that document there will be mentioned a name of someone you trust to be power of attorney. This means that this individual will be able to make decisions for you when you aren’t able to. This person is a substitute decision-maker for financial decisions.

For instance, you may name a trusted family member or a friend to cash in your Old Age Security cheques on your behalf if you go away for a short time.

More than this, it is important to name someone who will see to it that you and your assets are taken care of if you become incapacitated. Of course, this is not pleasant to think about but it makes good sense to face the facts and get a trusted person to oversee your affairs when you can’t.

A power of attorney is a document that appoints another person to be an “attorney” on your behalf to take care of business and asset management. This appointment can be as broad or as narrow as you want it to be.

An enduring power of attorney is something that you need to talk to your attorney about. If you become incapacitated mentally, you may want someone to watch over your affairs.

An enduring power of attorney is a legal document that makes someone you trust able to make financial and legal decisions on your behalf. This is separate and different from a non-enduring or ordinary power of attorney. A non-enduring power of attorney ends when you are mentally incapacitated.

You need your attorney to help you craft this document. It needs to state whether the person appointed can act while you are capable and incapable. This person’s authority needs to be clearly sketched out and able to stand up in court.

Calling in a solicitor from the beginning may be a good idea. This legal representative can help guide you because they are listening to you and are able to craft a document that is comprehensively yours.

Source: British Columbia, “Substitute Decision-Making and Incapacity Planning,” accessed June 22, 2015

Passing your vacation home to your kids needs an attorney

June 15, 2015/in Estate Administration & Probate/by gartonandharris

If you own a vacation cottage that the grandkids enjoy coming to, there may be some decisions you need to make about your estate. They love coming to the cabin and watching them jump into the lake fills you with happiness. Leaving this vacation getaway to your kids may trigger a huge tax bill if you aren’t careful.

Getting an attorney involved in your estate planning early can be a real game-changer. For instance, that cottage that you purchased for a few thousand dollars way back when is now worth several hundreds of thousands of dollars now.

You can’t avoid paying taxes on it any more than your inheritors can, but there are things you can do now that make a big difference.

Selling your property to your children now or gifting it to them while you are still here can bring that tax debt down to a manageable level. Any future capital gains will be put in your kids’ hands even though this action will trigger a tax bill now.

Although it may feel wrong, putting that tax bill in your children’s hands may be the best idea. Dealing with the tax amount now, rather than later, puts your children in a much better position.

If you feel like you need to loan them the money to purchase the property, you can even do that. This frees you up to hold the mortgage and spreading the capital gains associated with the tax bill. You can even put a clause in your will that frees them of the debt.

Having an attorney who knows all about the laws and regulations of estate administration is something that you may need at a time like this. Dealing with this now, while you can, will free your kids up to grieve their loss.

Are you beginning to see that there are many options available to you? Calling in an experienced and knowledgeable attorney can make a big difference at a time like this.

Source: The Canadian Press, “Passing your cottage to the kids?,” Craig Wong, June 04, 2015

What is new about the Wills, Estates and Succession Act?

June 10, 2015/in Estate Administration & Probate/by gartonandharris

The legislation for Wills, Estates and Succession Act, or WESA, and Probate Rules has changed. Why, you may ask? The new WESA appears to be clearer, simpler and is now streamlined so that the processes that are related to inheritance and the administration of estates are easier to use and follow.

The succession law portion was particularly dated and, for British Columbia, the laws were so fragmented that today’s reader had a really hard time applying them to the current situations that are now prevalent.

Some of our top legal minds drafted the newer version and they are said to have done a great job making the new WESA so much easier to apply. Funding was provided by the ministry for this change.

This affects you in some interesting ways. The new WESA clarifies the process that the inheritor must go through when no will is left in place. It makes clear what events must take place when looking for heirs to an estate that has no will. Also, it lowers the minimum age of making a will from 19 to 16 years of age.

Older wills that were written before the WESA was updated are still effective and do not need to be replaced with a newer version. Some of the rules have changed through. For example, whether a marriage revokes a will. Also whether gifts given to a particular person during the lifetime of the will-maker can be deducted from one’s inheritance or not.

If you already have a will, you may want to call an attorney who is familiar with these new rules of law and can guide you through the process of ensuring they will stand up in court.

As you can see, there is much more to this newer version of the Wills, Estates and Succession Act than meets the eye.

Source: British Columbia Ministry of Justice, “Wills, Estates and Succession Act and Probate Rules Questions and Answers ,” accessed June 10, 2015

Attorney needed to help you write your will in British Columbia

June 1, 2015/in Wills/by gartonandharris

Having a will in place can mean not only peace of mind for you, but a strong sense of well-being for your family and heirs. One of the major problems when parents pass away is “who gets what?” For instance, if you have a diamond engagement ring, which daughter gets to keep it? Or the lovely heirloom painting over the mantel?

Sitting down with an attorney who knows what questions to ask and can do the research with you to determine those issues ahead of time may be a good idea.

At the law office of Garton & Harris, we sit down with you and listen in order to guide you through the creation of an estate plan that also includes writing out a comprehensive will.

Have you thought about which child gets what asset? Have you promised one child the china and another the cedar chest?

Your attorney at Garton & Harris knows the questions to ask and will help you make an initial list of assets that will be passed on.

The list can be verbal, written notes, an audio recording, even putting a label on items in your home can suffice for who gets the valuable property. These methods can bring disputes and challenge to your will. The best way to bequeath your belongings is to have them directly in your will or in a memorandum to your will.

Remember though, what is valuable to your heirs may be of little value to the rest of the world. Many times it is simply something that meant a lot to them in their early years. Giving some of these up before you are gone can calm everyone’s feelings. You will need to revise your will if you do this.

We are experienced attorneys who know what you need when it comes to writing wills that will stand up to scrutiny in court. We are down-to-earth and our advice reflects this image. Our focus is on you and we will do everything in our power to protect your heirs.

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