Call Us Today: 604-468-8900
Schedule An Appointment With Us 604-468-8900
Garton & Harris
  • Home
  • About Us
    • Philip J. Dadson
    • Stuart F. Ross
    • Patrick Verrier
  • Wills and Estates
    • Estate Planning
    • Wills
    • Powers of Attorney
    • Representation Agreements, Living Wills
    • Trusts
    • Probate and Estate Administration
      • Probate With And Without A Will
    • Will Challenges
  • Business Transactions
    • Buying Or Selling A Business
    • Incorporation Or Setting Up A Business
  • Litigation
    • Business Disputes
    • Construction Disputes
  • Real Estate
    • Residential Purchase And Sale
    • Commercial Real Estate
    • Property Development
      • Subdivision
    • Foreclosures
  • Family Law
  • Blog
  • Contact
  • Menu Menu

The need for wills even when accounts have beneficiaries

November 28, 2018/in Wills /by gartonandharris

People who have worked hard all their lives and have several accounts with sizable assets — like life insurance policies or retirement savings plans — still need to plan their estates. British Columbia residents who have beneficiaries attached to these assets still need to write wills to streamline the process of disseminating specified assets when the time comes. Assets are frozen upon the death of their owner.

A will is necessary since it allows an executor to do many of the things required by law when a person passes away. A will gives the executor the right to file and sign a final tax return, liaise with creditors and basically take care of anything associated with the deceased person’s estate. Many people don’t realize that if a spouse is not the executor, he or she can’t automatically take on that role. So, those who die intestate (or without a will) may leave a lot of messy loose ends for their loved ones.

The bottom line is that everyone needs a will, no matter if they have many assets or not. Sadly, dying can cause a lot of red tape if issues aren’t documented. Having a plan is better than having nothing, even when that plan may not always run smoothly. 

A lawyer is in a position to explain further why wills are important, even if there are beneficiaries already named for certain assets. A British Columbia lawyer will ensure that any estate planning documents will be free of errors. Vague wording in a will may just create further problems and a lawyer can help a client to draft a document that is complete.

https://gartonandharris.com/wp-content/uploads/2020/11/garton-and-harris-logo-full-02.png 0 0 gartonandharris https://gartonandharris.com/wp-content/uploads/2020/11/garton-and-harris-logo-full-02.png gartonandharris2018-11-28 00:00:002018-11-28 00:00:00The need for wills even when accounts have beneficiaries

Online wills may be estate planning mistakes in British Columbia

November 11, 2018/in Wills /by gartonandharris

It’s important to plan for the inevitable. Estate planning should be a part of every adult British Columbia resident’s life, but for many people writing wills is the last thing on their radar. When they do think of it, they might resort to doing it the best way they believe is possible. Some turn to online forms, but they may be sorely misguided.

Online will forms, according to most experts, are not reliable and as such actually come with disclaimers. The average person wouldn’t know if these forms contained mistakes or included things that weren’t legal. Wills are meant to be unique — reflective of personal situations, not one size fits all. 

They also don’t take into account what is going on in a person’s life when these forms are being filled out. The person could have cognitive difficulties or other issues that would entail needing help with a will. In fact, there are so many reasons why online wills are a bad idea.

What someone sees as a convenience can actually turn into the biggest inconvenience when he or she is considering using an online form to create a will. There are many complexities to take into account when writing wills, and a lawyer would be able to ensure his or her client doesn’t make costly errors in an estate plan. A British Columbia lawyer can ascertain whether his or her client is leaving something out which should be included and vice versa. Unique situations of clients would also be considered such as clients who are in common law relationships, those with children and those who have high asset situations.

https://gartonandharris.com/wp-content/uploads/2020/11/garton-and-harris-logo-full-02.png 0 0 gartonandharris https://gartonandharris.com/wp-content/uploads/2020/11/garton-and-harris-logo-full-02.png gartonandharris2018-11-11 00:00:002018-11-11 00:00:00Online wills may be estate planning mistakes in British Columbia

Categories

  • Blog
  • Civil Appeals
  • Civil Litigation
  • Class Action Litigation
  • Estate Administration & Probate
  • Federal Appeals
  • Power of Attorney
  • Uncategorized
  • Wills

Recent Posts

  • Are do-it-yourself wills worth the risk?
  • What can go wrong when buying a business in Canada?
  • How to “stress test” a will throughout one’s life
  • Are wills necessary if all assets have joint ownership?
  • How should individuals update their wills following a divorce?

Archives

  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014

Schedule An Appointment With Us

SEND US AN EMAIL

© 2020 by Garton & Harris. All rights reserved.
Disclaimer | Site Map | Privacy Policy

REVIEW OUR FIRM
Scroll to top