In a previous post, I discussed choosing guardians for your children in your Will. A Will is also very important for making financial arrangements for your children. In this post, I am talking about children who are under 19 as well as those who might be over 19 but not yet fully financially responsible (who […]
In BC, probate fee avoidance can be a bit of an obsession. And like any obsession, sometimes the things people do cause a lot more problems than they solve. What is probate, and what are probate fees? Probate is the court order which legally confirms that a deceased person’s Will is their valid last Will, […]
This is a starting point for individuals in BC on documents to put in place and basic tasks to help things go smoothly for themselves and their loved ones in the event of death or incapacity. Keep in mind that everyone’s situation is different, and your lawyer may raise issues and suggest strategies that are beyond this […]
For the past several years, estate planning lawyers have touted the virtues of testamentary trusts as a tax planning tool for clients with sizeable estates. Budget 2014 will largely remove the tax benefits of testamentary trusts, and for many clients (but not all!) the simplicity of outright gifts for adult beneficiaries might now make more […]
As parents, life is full of daily tasks for taking care of children. While we plan to live a long time, to be there to see our children grow up, and hopefully to celebrate grandchildren one day, one of our important not-so-daily tasks is to make sure our children will be taken care of if […]
You can help a charity of your choice by making charitable gifts as part of your estate planning. Planned gifts are deeply appreciated by the charities that receive them and can provide significant tax benefits to you and your estate. Ways you can make a gift to a charity: In your Will – You can […]
Estate planning is about putting a plan in place now for the ‘who, what and how’ of taking care of things if we die or if we become incapable of managing our own finances or making our own health care decisions. With a few basic legal documents, we create a roadmap and give the people […]