Estate planning is essential for any couple, but for common-law partners in British Columbia, it’s especially critical. While BC law does offer certain protections, they’re not as automatic or comprehensive as those provided to married spouses. Without the right documents in place, your partner could face legal complications during an already emotional time. Here’s what…
As more of life moves online, our estate plans need to keep up. From banking apps and cryptocurrency, to social media and photo storage, digital assets have become just as important as physical ones, yet many Canadians overlook them when planning their estate. Failing to account for digital assets can leave loved ones locked out…
Preparing for your first will or estate planning meeting doesn’t have to be daunting. The good news is that a little preparation goes a long way in making the discussion easier, and more productive. By gathering the right documents and information ahead of time, you enable your estate lawyer to provide the best advice, and…
In a digital world, your online presence doesn’t disappear when you do. From Instagram photos to TikTok videos, X (formerly Twitter) posts to YouTube channels , your social media accounts form part of your digital legacy. But what happens to these platforms when you pass away? And who controls them? In British Columbia, your digital…
When someone passes away in British Columbia, their estate may need to go through probate , a legal process that confirms the validity of the will and grants the executor authority to act on behalf of the estate. One of the most common questions families ask is: how much does probate actually cost? Here’s what…
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…
In Canada, beneficiaries do not pay taxes on inherited money or assets; instead, the deceased’s estate settles any tax obligations before distributing assets to heirs. This approach ensures that all taxes are addressed upfront, relieving beneficiaries of potential financial burdens. No Direct Inheritance Tax Canada does not impose a direct inheritance tax. Beneficiaries receive their…
An Alzheimer’s diagnosis brings unique challenges, but it also serves as a reminder to make the most of the time you have. While every individual’s experience with the disease is different, taking proactive legal steps now will provide clarity and peace of mind for both you and your loved ones. Regardless of when you receive…