As the baby-boomer generation approaches old age and eventually passes away, an enormous transfer of wealth is set to occur. One of Canada’s biggest banks, CIBC, predicts that the amount of money to be inherited by the next generation will be approximately $750 billion. The CIBC says that approximately 2.5 million Canadians 75 and up […]
The Supreme Court of Canada ruled to uphold the decision of a lower court to halt the dispensation of a man’s estate to a United States-based white supremacist group. The Supreme Court ruled that it would not hear the appeal, which was filed by the Canadian Association for Free Expression. The court did not offer […]
Many residents of British Columbia do not know that a power of attorney for personal care is a real, legal document. Most people think of powers of attorney strictly as tools for managing financial matters in the event of incapacity. However, a power of attorney addressing one’s personal care needs is a valid legal document […]
For a long time in the history of mankind, people did not give much thought to their death or their legacy. They lived day-to-day, surviving and enjoying life’s happier moments until death overtook them. The modern times of today gives people the opportunity to take a deeper look into the future. As a result, many […]
Technological advancements have made it easy for every Canadian to cultivate a digital presence. This enables people to broaden their lives, grow worldwide friendships and carry out financial tasks all from the comfort of home. Having a digital presence means users are required to create access information such as usernames and passwords. While it is […]
We all know that sometimes even the best laid plans can go awry. For example, a person puts a great deal of thought into a power of attorney but circumstances arise that may require changes. Perhaps the person he or she has chosen to act as attorney becomes ill or passes away. Whatever the reason, […]
Creating a will and other elements of a strong estate plan are critical when preparing for the future. Having an effective plan in place gives people peace of mind, allowing them to relax and enjoy the remainder of their lives. However, planning for one’s death can be uncomfortable for some, causing them to put off […]
If you are one of the many British Columbia residents concerned about how your estate will be handled once you die, a good step in the right direction involves carefully choosing an estate executor. Making the wrong decision can have a negative impact on your entire estate. Some of the things that could happen include […]
A nurse formerly employed with the Royal Ascot Care Centre as a director has lost her registration with the British Columbia College of Registered Nurses. Reportedly, the former nurse is accused of falsifying referral forms, inducing power of attorney and stealing from an 86-year-old female patient. Among the allegedly stolen items was a coin collection, […]
In British Columbia, some people assume the do-it-yourself way is ideal for estate planning tasks like making a will. While it is true that you can choose to go it alone, it is possible doing so may cost you more in the long run. Unfortunately, these costs are not just money-related. A do-it-yourself approach may […]
One of the most important things about a will is having the ability to change or revoke the document. When mutual wills are prepared correctly, the option to change a will may disappear. That does not necessarily mean that mutual wills are a bad idea for you and your spouse, but it does mean you […]
A power of attorney is an extremely powerful tool when it comes to estate planning. It can serve, support and protect a person’s very best interests. However, in the wrong hands, a power of attorney can create an obstacle-free pathway to elder financial abuse. It is safe to say that almost no British Columbia citizen […]