Gifting property to your children while you’re alive can be a meaningful gesture and, in some cases, a strategic estate planning move. In British Columbia, this decision carries both benefits and risks. While it may help simplify your estate or reduce probate fees, it can also trigger tax consequences or create complications if not handled…
Estate planning isn’t just about deciding who gets what, it’s about preserving your wealth, minimizing taxes, and ensuring your wishes are honoured. There are several tax obligations that can affect your estate before assets are passed on to your loved ones. Understanding these obligations, and how to reduce them, is key to protecting your legacy….
An Alter Ego Trust is a special type of trust available to Canadians aged 65 or older. It allows you to transfer assets into a trust while still retaining full control and benefit of them during your lifetime. Alter Ego Trusts are often used for estate planning because they offer privacy and probate advantages….
A Power of Attorney (POA) is a crucial legal document that allows someone you trust to manage your legal and financial affairs if you become unable to do so yourself. In British Columbia, setting up a POA is an important step in your estate and incapacity planning. Here’s what you need to know about Powers…
Life can be unpredictable, so it’s vital to protect the people you care for. Estate planning is the process of arranging what will happen to your assets after you die, or if you become incapacitated. A well-crafted estate plan will preserve your wealth and put your mind at ease. Don’t wait – take control of…
Not sure how to go about choosing a wills and estates lawyer? Start with these simple guidelines. Speak to a Lawyer Now Ask for Referrals When you need a lawyer, start by asking around. Find out who family and friends have used for their will and estate planning and what their experience has been…
Advance Serious Illness Planning: What is it and How Does it Work? What is Advance Care Planning? Advance care planning means putting a plan in place now so that, should you be seriously ill and not in a position to make decisions, your wishes will be honoured. Many people do not have an advance care…
Having Belongings Valued After a Death There is more to managing a loved one’s estate than dealing with bank accounts and property. There are also the smaller items around their home that may be valuable, such as jewelry, antique furniture, and collectibles. It can be hard to know where to start with items like this,…
Estate Planning for Digital Assets We live in the digital age, which means that more and more people have valuable or sentimental property that is stored entirely online or on a laptop. Many people do not think about how digital assets factor into estate planning, but keeping these assets in mind when creating your will…
How to Make Estate Administration Easier Leave a Will The first and most important step to making your estate administration easy is to create a will now, with the help of a lawyer. Leaving a will ensures an accurate picture of your wishes. It is important to have a lawyer assist you with your will…
