Learning from experience
Your estate plan should not be a “set it and forget it” document. In British Columbia, changes in life, and changes to the law, can affect whether your will and personal planning documents still work the way you intended. For seniors in particular, keeping these documents current is essential to protecting your wishes and avoiding confusion or conflict down the road.
The holidays can be one of the few times multiple generations gather together. Between catching up and sharing meals, many families may reflect on how to best support aging parents and loved ones. Though the topic isn’t always easy, December can be an ideal time to begin discussing key estate planning documents like Powers of Attorney and Representation Agreements.
While financial planning and estate planning are two important aspects of managing wealth, they are often viewed in isolation from each other. However, understanding how these two different kinds of professionals work together can optimize your wealth management strategy and ensure your legacy is protected.
Probate is the legal process of administering a deceased person’s estate. Although some probate cases are straightforward, others can be complex and challenging. In many situations, seeking the help of a probate attorney is not just beneficial but essential.
Whether its marriage, divorce, birth, death, or financial circumstances, life is constantly changing and it can impact your estate planning needs. If you already have a will but need to make updates, you may not have to rewrite the entire document. This is where a codicil could be the right choice.
Creating a Will doesn’t necessarily mean multiple in-person trips to a lawyer’s office, rearranging your schedule, or scrambling for childcare. Modern technology and legal changes in British Columbia allow you to complete the entire process virtually if you want to.
Probate is a term that often evokes confusion. Many people believe it is a long and complicated process, however, much of what is believed about probate is usually myths and misconceptions. Here are some of the most common myths about probate and the facts behind them.
Sometimes life can be unpredictable, and circumstances like separation can complicate estate planning. If you are still legally married but separated and you don’t update or write a new will, the distribution of your assets may not align with your wishes.
Selling real estate in probate can be a complex process that involves unique challenges. Understanding the probate process and preparing accordingly can help you avoid delays, reduce stress, and maximize the property’s value.
Estate planning isn’t just about distributing assets and minimizing taxes—it can also bring up difficult emotions. It can involve making difficult decisions about your legacy, family dynamics, and mortality.
