Thinking about the end of life seems unpleasant – and for the most part, it is. Planning for death is one of the last things you’d ever want to think about. But the facts remain: Anything can happen and it’s important to prepare for events like these. Wills and Trust Agreements help protect what’s rightfully yours. If you plan well, you can leave more of your possessions for your family and loved ones. At Kinman Mulholland, we draft and prepare standard Wills and Powers of Attorney, as well as Representation Agreements, Family Trust Agreements and Business Trust Agreements.
What Is a Will and Why You Should Have One
A will sets out in writing how to deal with person’s property and belongings after death. A 2012 study showed that 56% of Canadian adults did not have a will. In order for a will to be valid, it must be in writing and signed by the person who created the will. It also must be signed by 2 witnesses in the presence of the will-maker.In 2014, the Province of British Columbia passed the Wills, Estates and Succession Act, which is one of the main pieces of legislation that governs what happens when a person passes away.
We adhere to this piece of legislation as well as Supreme Court Civil Rules and many other Acts that determine what your family can and cannot do after your death. At Kinman & Associates, we can advise you on any and all decision you make with respect to your “estate” if you pass away. Having a will is financially sensible and protects your loved ones from taxes and fees you may be subject to later on. Most of all, it puts you and your family at the centre of your possessions, not the courts.
Find out more information about Estate Planning here.
How Estate Planning Lawyers Can Help
More significant if you don’t plan, you could leave your family and friends with expensive problems:
- You can lose control of your estate
- Less money will be given to your family and loved ones
- It may take a lot longer to settle your estate
- It may cause your family difficulties and conflicts between each other.
One of the main methods of estate planning is to leave a will
If you die without a will, your estate gets settled according to the laws of BC. Any probate or legal fees that apply will be higher, and your loved ones and family might not get the wealth or other belongings you want to leave them. It’s easy to make a mistake or to write a unclear will — and you won’t be there to fix the problem. At Kinman & Associates Barristers & Solicitors, we can help and advise residents of Burnaby and New Westminster make better decisions.
Estate Planning Checklist
- Leave a will
- Name beneficiaries in insurance and other policies
- plan your funeral
- Set up a trust fund(s)
- Make arrangement in case of incapacity
- And more…
Estate planning will allow you to be remembered the way you want. Contact Kinman & Associates today to schedule a consultation.