Wills
Protect your assets – distribution on intestacy
If you die intestate your assets will be distributed according to the intestacy rules, which may not be how you wanted it done, your heirs will apply to court to appoint an administrator for your estate, which may not be the person you wanted. By making a will you appoint a person you trust to distribute your assets to intended recipients, in the amounts and at the times you think fit.
Lack of Estate Planning may lead to depletion of the assets – not all assets need to become part of your estate and, as a result, subject to probate fees. That can be avoided by passing assets outside the estate or under a separate will, which does not require probate, for that to happen Estate Planning and Tax Planning are necessary.
Protect your minor children
- By naming testamentary guardians for the children;
- By setting out how the estate will be administered to take care of the children; and
- By directing when and in what shares it will be distributed to them.
Careful drafting – variation by the courts
BC legislation (Wills, Estates and Succession Act) entitles children, spouses and common-law partners that are not happy with the distribution to them to apply to court to vary that distribution. We will carefully draft your will to lessen possibility of variation by the courts.
Avoid probate, pass assets outside the will
- Pursuant to the terms of a Trust;
- By a right of survivorship under the joint tenancy;
- By beneficiary designation in a life insurance, TFSA, RRSP or RRIF.
You can find additional information on our blog.
Protect your assets and secure your wishes. Get legal advice today.
Contact Granville Law Group and schedule a free, 30-minute consultation with our lawyers. Call us at 604-669-6580 or arrange a meeting using our online form.
Schedule a Free, 30-Minute Consultation
Call Granville Law Group at 604-669-6580 or arrange a meeting using our contact form