Category

Glossary of Terms – Wills and Estates

You have always wondered and now you know: Absolute. Given without any condition. For example, “I give to ‘X’ the residue of my estate absolutely” means just that. Whatever is left in the estate is given absolutely over to that named person. Administrator. A person appointed by the Probate Registry in the absence of a [...]

Located in: Wills & Estates

WILLS -The Basics

A will is a legal declaration of your wishes regarding the disposition of your assets after death. As the person who creates the will, you are referred to as the testator (if you are male) or testatrix (if you are female). If your will says that your assets are to be given to certain individuals [...]

Located in: Wills & Estates

Joint Tenancy – Pitfalls And Planning Solutions

This is a brief summary of the pitfalls of using joint tenancy as an estate planning strategy, taking into account the impact of recent Supreme Court of Canada decisions on its use. The suggested solutions in this article are for information purposes only – you are encouraged to obtain independent legal advice to discuss your [...]

Located in: Wills & Estates

Estate Litigation

The term “estate litigation” means that a court has been asked to resolve an issue regarding the estate of a person who has died. In this article we will discuss the key areas of estate litigation – but please understand that this is not legal advice. You need a qualified estate lawyer who knows the [...]

Located in: Wills & Estates

When You Fail to Plan – Dying “Intestate”

Dying “intestate” is the legal term for dying without a valid will. An intestacy usually occurs because the person who died never made a will – but it can also occur when a will cannot be found after death or if an existing will is found to be invalid. This can happen because the will [...]

Located in: Wills & Estates

Probate

Probate is the procedure by which a Will is approved by the Supreme Court of British Columbia as the valid and last Will of the deceased and also confirms the appointment of the person named as executor in the Will, recognizing the authority of the executor. The executor will receive a document from the Court [...]

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Executor

An executor is the person who you appoint in your Will to be responsible for administering your estate upon your death. Duties of an executor include: Making final funeral arrangements in accordance with your wishes; Probating the will; Gathering assets and paying the debts of the estate, including funeral expenses; Filing outstanding tax returns; Obtaining [...]

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Planned Giving

Planned Giving is making a charitable gift in such a way that you (as the donor) can maximize tax savings and financial benefits for yourself and/or your estate, while fulfilling your philanthropic goals. The gift may be a one-time donation, a series of payments over a set period of time, or ongoing support. It may [...]

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Trusts

A Trust is a legal arrangement whereby a person (the “settlor”) gives property to another person (the “trustee”) to hold for the benefit of one or more persons (the “beneficiaries”). Trusts established while a settlor is still alive are called “inter vivos trusts.” A legal document which sets out the terms of an inter vivos [...]

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Health Care Decisions: Avoiding the Terry Schiavo Incident

Many people have heard the name Terry Schiavo. The controversial dispute surrounding Terry’s life and the battle that ensued between Terry’s husband and parents brought to the forefront, for many of us, the issue of the right to die. In Terry’s situation, the fact that she did not have a Living Will left an absence [...]

Located in: Wills & Estates