As men and women advance further into their senior years, it can become increasingly difficult for many to continue managing their own affairs. One possible solution for a senior is to grant power of attorney to a trusted friend or loved one who can then make complicated decisions on his or her behalf. Making that […]
Most men and women who find they have been named as executor of an estate have probably never performed the task before. As such, they may have some questions about unfamiliar terms and processes. One word that will come up a lot in the early stages is ‘probate.’ Probate is the process through which a will is […]
As more and more British Columbia men and women are living longer, they are increasingly faced with making hard choices about how they will be cared for as they age. To willingly give up the freedom to make decisions about one’s own life is a difficult choice to make. It is important to look ahead, and […]
It’s one of the most important tasks for the living, and yet no one lives to see their efforts pay off. Writing a will may be one of the least appealing chores a person needs to take care of, but doing it now may provide peace of mind later in life. Men and women in […]
Preparing a will is one of the most important tasks a man or woman in British Columbia can undertake. Making one’s final wishes clear will ease some of the burden on those left behind. Many people, however, consider only their traditional assets, such as real estate and bank accounts. Wills can also be used for final […]
The purpose of a will is to make provision for the distribution of assets after a person’s passing. For most people in British Columbia, those assets will include things such as real estate, material possessions, money and investments. Entrepreneurs and other business owners, however, have one very special asset that should be given space in […]
People today are living longer, on average, than ever before, especially here in British Columbia. For some, the reality of this increasing longevity is a decreasing ability to make decisions about their own lives, including finances. A good option is choosing to grant power of attorney to a trusted family member or loved one before […]
Estate litigation is exactly what every diligent estate planner is trying to avoid, but sometimes, the best-laid estate plans can fall subject to challenges in court after the estate planner passes away. This is where a qualified estate planning lawyer can be very helpful in assisting families to assert their beneficiary rights in court. The […]
British Columbia residents who are unfamiliar with planning their estates and what is involved with the process may want to familiarize themselves with some vital terminology. This article will discuss some key buzzwords and terms that you will want to know: — Will: A will is a document that is written out — usually by […]
British Columbia residents who have been appointed to serve as the executor of a deceased loved one’s estate will no doubt feel honored by the fact. However, serving as executor can be one of the most stressful jobs that anyone has to perform. What estate representatives particularly need to realize is that they may have […]
British Columbia residents should be aware that Canada does not have true “estate taxes.” However, certain liabilities may need to be paid upon the death of a loved one, by the estate of that loved one before the estate’s assets may be distributed. Those include income tax due to deemed disposition and Registered Retirement Savings […]
There is an old Roman saying that says the people who want to have peace should always prepare for war. In some ways, this notion applies to estate planning. Indeed, a good estate plan will seek to achieve several very important goals, and one of the most important ones is the avoidance of family infighting, […]