Learning from experience
Life is constantly changing. Whether its marriages, divorces, births, deaths, or shifts in financial circumstances, all these events can impact your estate planning needs. If you already have a will but need to make updates, you don’t necessarily 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 and many people believe that probate is a long, expensive, and complicated process. However, much of what is commonly 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.
When a loved one passes away, their estate often goes through a legal process called probate to distribute assets and settle debts. But what exactly is probate, and how does it affect you?
As adult children, one of the most important roles you can play in your parents’ estate planning is to be a supportive guide, not a decision-maker.
When assisting elderly parents with estate planning, it’s important to ensure they have all the necessary documents in place to manage their assets and personal affairs according to their wishes.
Approaching your elderly parents about estate planning can feel like a delicate challenge, but it’s an important step in ensuring their wishes are respected and the family’s future is secure.
