It is sad but true: disagreements between family members can and often do arise. They typically fester, simmering just beneath the surface, for years. All it takes is the right trigger to make them rise to the surface with vigor. As an estate lawyer, I’ve seen it time and again and a family member getting…
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legal will
Planning for Incapacity – Powers of Attorney
TagsArticles, Wills & Estate PlanningWhat is a Power of Attorney? A Power of Attorney ("POA") is a document authorized under the Power of Attorney Act of British Columbia. A person or company (the “Principal”) signs the POA to appoint another person (the “Attorney” – not to be confused with the American term for lawyer), to act on behalf of…
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Why Get a Power of Attorney?
TagsArticles, Wills & Estate PlanningWhat is a Power of Attorney/Enduring Power of Attorney? A Power of Attorney (“POA”) is a document signed by a person (the “Adult”) appointing another person (the “Attorney”) to manage the Adult’s property and finances. Pursuant to the Land Title Act (BC), a POA must be witnessed by a lawyer or notary in order for…
Read MoreNew Tax Rules Affecting Testamentary Trusts
TagsArticles, Wills & Estate PlanningAre Testamentary Trusts useful any more? Testamentary Trusts If your estate plan includes creating a trust in your will or you are a trust beneficiary or an estate trustee, you may be affected by the federal government’s new legislation to tax certain trusts at the top marginal tax rate rather than the lower graduated tax…
Read MoreAvoid Probate Using Joint Ownership
TagsArticles, Wills & Estate PlanningShould you use Joint Ownership to Avoid Probate Fees? The probate process is a court application seeking an order from the Supreme Court of B.C. which confirms the legality of your Will, recognizes the executor in your Will as the person legally responsible to administer your estate, and requires the executor to administer and distribute…
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