What about Will Kits?
It is not uncommon for people to ask us about will kits. While some people can purchase and use these kits without it causing a problem down the road, doing so is often a risky business.
Provincial Rules Apply
Firstly, it is very important to ensure that a will and the circumstances of its witnessing comply with the requirements of the Wills Estates and Succession Act in British Columbia. Will kits are often prepared in places other than B.C. and may not fully address the specific requirements of this legislation. Additionally, having a lawyer and a member of a law firms staff witness a will can help to avoid potential complications arising from questions surrounding the circumstances of the execution of a will. More important however, is the expert personalized analysis and advice that a lawyer can provide.
Personal Circumstances Vary
While many of the people we meet with are certain that their situation is a “simple” one, quite frequently they are unaware that there are several aspects of their personal circumstances that require special attention. Every person’s circumstances are different and in estate planning and will drafting, there are a wide variety of important factors and concepts that should be carefully understood and addressed.
Will kits cannot actively consider and advise you about your particular circumstances or take steps to ensure that you understand what can be, at times, rather abstruse legal issues. Additionally, will kits may not sufficiently address important estate and tax planning implications of, for example:
- blended families
- adopted, unborn, disabled, or spendthrift children
- children who will not benefit from or who will receive an unequal share of the estate
- previous marriages or common law relationships
- child or spousal support obligations
- the possibility of resulting trust claims
- the possibility of wills variation claims by spouse or child
- the possibility of undue influence claims
- the possibility of claims that you lacked the capacity to make a will
- beneficiaries with citizenship or other status in other countries
- assets in other provinces or countries
- digital assets
- business interests
- RRSPs, RRIFs, TFSAs, insurance policies, and pensions
- jointly owned assets
The above are just a few of the kinds of circumstances that should be given special attention. Your lawyer will canvass your personal circumstances including your family history, assets, and liabilities and will use that information to provide advice and estate planning documents that are uniquely tailored to your circumstances. This can help ensure that your wishes are effectively documented and can minimize the chances of conflict and litigation in relation to your estate.
Incapacity Planning Matters Too
A lawyer can also help you plan effectively for management of your financial and legal affairs and personal care decision-making in the event that you become incapacitated. As with estate planning, incapacity planning can involve a wide variety of factors that should be considered and many of the people we encounter are unaware of at least some such considerations. Having a lawyer assist you with putting the appropriate incapacity planning documents in place while you are capable can avoid significant expense, conflict, and frustration down the road.
In Conclusion
Lawyers can provide assistance in documenting your wishes concerning your estate and incapacity plan. They can also help ensure that you are aware of and understand all relevant considerations. A lawyer will canvas your personal circumstances then come up with a plan and documents that are personalized to your wishes and needs. This assistance and advice can maximize the chances that your documents will be effective and minimize the possibility for unforeseen and undesirable outcomes.
Let us know if we can help you with your will or incapacity planning.