Someone who is chosen to oversee a person’s affairs should they need help or when they can’t do it themselves is usually chosen because that person is trusted. In British Columbia, there have been instances, however, when someone who has been named power of attorney has abused that trust and has done things that could be considered fraudulent. There are things that can […]
Statistics Canada says one in three retired citizens 55 years of age or older and two in three citizens 55 years of age or older who are still working are in debt. In terms of estate administration in British Columbia, this is something adult children of the 55-plus crowd need to think about. Are they […]
It’s horrible to think about, but what if disaster should strike and an entire family perishes at the same time? British Columbia residents in the process of fashioning their estate plans might do well to consider adding a “Titanic” clause to their wills to make estate administration easier should the unthinkable befall an entire family. […]
At times, adult children are asked by their parents to undertake things for which they’re unprepared. No one likes to think about the death of his or her parents. But being named power of attorney in British Columbia is a role for which many children are unprepared and one which merits much forethought. The Baby […]
No one relishes administering the assets of an estate. For one thing it means a loved one has died and for another, it may mean that volatile emotions are making the process even more stressful. Estate administration in Canada can be smooth sailing or it could get caught up on some rocks, depending upon how […]
Doctors may have more of a say in what happens to their patients’ estates than most people thought. British Columbia doctors may be called upon to testify in court as to the mental capacity of patients during the time wills were made. This usually happens after a patient has died, but in some instances, a physician’s advice […]
The terms advanced care planning and living wills are used interchangeably. But in British Columbia, and indeed in all of Canada, living wills is an American-coined term and has no legal status in Canada. That doesn’t mean to say Canadians cannot make plans in the event they are not able to communicate their wishes regarding […]
When business owners are no longer of this mortal coil, it’s extremely important that they have left behind a will. Wills are important for every adult in British Columbia, but when someone owns a business, it’s crucial to everyone associated with it — family members, employees, managers and co-owners — that the business can survive […]
There may be instances when British Columbia residents think it would save money to purchase “Do It Yourself” (DIY) wills kits, but that may not be the wisest decision. Whether it’s to try to save money, or to save time, DIY wills may cost residents more time and money in the long run. One thing is […]
Having more than one will has a very limited purpose. Multiple wills help reduce the overall value of assets that have to pass through probate in an uncontested will situation. The multiple-will technique has been used in Ontario to reduce exposure to probate taxes in that province, but it’s somewhat different in British Columbia. In one particular […]