Estate Planning

In part 2, e focus on the related topic of will variation claims, a matter that should be of serious concern for anyone living in a blended family.

Families in which one or both spouses have children from a previous relationship, known as blended families, present some particularly tricky challenges when it comes to estate planning.

This is a question we are asked regularly, usually by a relative of a deceased individual who does not have a will. This month we will explain some of the basics of the laws in British Columbia relating to dying without a will, also known as “intestacy” or “dying intestate”.

Sometimes, an executor dies after beginning, but before completing, administration of an estate. Then, the question arises: who is responsible for completing the administration of the estate? Usually, this question is answered by the provisions of one’s will specifying alternate executors. On occasion though, either a will’s drafting does not address this possibility, or despite providing for several alternative executors, none of the named alternate executors are willing or able to take on the role.

When one is appointed as an attorney under a power of attorney document that has been put in place by another individual (the “donor”) and acts as an attorney for the donor, one is acting as a fiduciary in relation to the donor. This means that one is subject to the associated duties, restrictions, and potential liabilities of a fiduciary.

Over the past few years, various levels of government have introduced a variety of information collecting mechanisms in an effort to improve transparency surrounding property ownership and fight financial crime. This month we will discuss some relatively recent changes to the reporting required under the Property Transfer Tax Act (the “Act”). When an interest in…

Often people focus on who will be in charge of their estate and who will benefit from it when planning for their eventual passing. Certainly, these are important issues and putting a will in place to address these issues is a vital part of most estate plans, but there are additional steps that can be…

Last month we explained that the decision to act as an executor is not one to be taken lightly – it is a role that comes with significant duties and exposure to risk. We had initially intended to discuss the duties of an executor in this month’s post, but a recent question inspired us to…

One of the first things on the minds of many potential executors or administrators of an estate (also known as the “personal representative” of the estate) is what to do about creditors. People often die with, for example, a mortgage or credit card debt. As we discussed last month, the initial duties of a personal…

In British Columbia, if a person over the age of 18 is living with a severe mental or physical impairment, they may qualify for financial assistance under the Employment and Assistance for Persons with Disabilities Act, S.B.C. 2002, C. 41 (the “Act”). For an individual to qualify, a Medical Professional must provide an opinion that…