Estate planning may often be driven less by what an individual has and more in regard for loved ones left behind. Some British Columbia residents may be under the assumption that because they don’t have many assets they don’t need to have wills. Professionals in estate planning say this isn’t the case.
It is especially important for parents to have a will. Who will become the guardian of any minor children should something happen to the parents? These types of things are spelled out in wills. Although it is not essential that wills be prepared by lawyers, it is not a wise decision to go it alone since DIY wills can come with a host of issues. Lawyers’ fees are insignificant when compared to costs of having to go to court to sort out homemade wills.
Children are the most precious assets parents have. Should parents die intestate and without the mention of who should look after their children, it could cause much familial anguish and create havoc in the children’s lives. A will is beneficial for many reasons, not just for financial wishes to be carried out.
A British Columbia lawyer can assist all residents in preparing their wills. Whether the estates are worth millions of dollars or if there are few assets in the estate, having a will gives individuals a say on what they would like to have happen to the belongings. When clients have children, it is in their best interests for parents to have up-to-date wills.