When you are setting up an estate plan, one of the likely activities you will engage in is setting up a trust. What is a trust? A trust is a legal relationship that allows the trustee, whom you name, to hold interest in money, property and other assets for another person’s benefit. This person is […]
When setting up an estate plan, part of that planning will include putting a will in place. A will is a document that is legally binding. It tells your heirs what you want done with your assets and property when you are no longer here. You can include real estate, cash, investments and household items […]
When you think of estate planning, you need to ponder what your advance care plan will be. Talk to your family and friends about what your beliefs, values and wishes are so that they are aware of what you want to see happen if you become unable to make decisions for yourself. Knowing what to […]
If you are thinking about putting a will in place to protect your assets and property when you can no longer be here to do it, you may want to think about putting a power of attorney in place also. There are two different types: a regular power of attorney and an enduring power of […]
When a loved one dies, there is usually a will. Sometimes this will has surprises in it that are not pleasant to those expecting to be the heirs for the person who passed away. British Columbia has recourse for this and allows spouses and children and even other parties to contest the will in order […]
Having a will in place when you pass away not only gives a guideline to your children but can give you peace of mind. There is an agency called the Vital Statistics Agency that maintains the wills registry in British Columbia. You can use this registry to register the location of a will or search […]
When you have a will, often within that document there will be mentioned a name of someone you trust to be power of attorney. This means that this individual will be able to make decisions for you when you aren’t able to. This person is a substitute decision-maker for financial decisions. For instance, you may […]
If you own a vacation cottage that the grandkids enjoy coming to, there may be some decisions you need to make about your estate. They love coming to the cabin and watching them jump into the lake fills you with happiness. Leaving this vacation getaway to your kids may trigger a huge tax bill if […]
The legislation for Wills, Estates and Succession Act, or WESA, and Probate Rules has changed. Why, you may ask? The new WESA appears to be clearer, simpler and is now streamlined so that the processes that are related to inheritance and the administration of estates are easier to use and follow. The succession law portion […]
Having a will in place can mean not only peace of mind for you, but a strong sense of well-being for your family and heirs. One of the major problems when parents pass away is “who gets what?” For instance, if you have a diamond engagement ring, which daughter gets to keep it? Or the […]
Estate planning and wills go hand in hand. But is that everything that you need for you estate plan to be complete? A good will includes directives that tell everyone what you want to happen to your property when you are no longer here. Do you have any real estate, money, investments or personal belongings […]
Focusing on the legal aspects that surround a power of attorney when someone is incapacitated or unable to make decisions for him- or herself is important. Being that person who has to make decisions comes with a lot of responsibility. If that power of attorney is challenged, the court will step in and appoint someone […]