Abbotsford, BC Wills & Estates Lawyers

Many people don’t think about estate planning when they think about family law. Nevertheless, estate planning is a vital and much-overlooked part of the family law process.

Our legal team can help you protect your family and your assets after you die. We can ensure that your wishes get respected and that your children, step-children, spouse, or relatives gain the benefits of the hard work you’ve put in over your lifetime. We can also help you if you want to leave any part of your assets to charity after you die. 

We can help you with will and estate disputes if a relative’s will is unfair, as well. For example, we handle a great deal of disinherited daughters litigation here in Abbotsford and can help you protect your rights. If you suspect your relative was defrauded, intimidated, or coerced into changing their will then we can help with this scenario, as well. 

You can also hire us to serve as your executors after your death.

Why Estate Planning is Important

When you die without a will in Abbotsford the province distributes all of your assets in accordance with the Wills, Estates, and Succession Act. If you are a high earner or have a complex asset profile then this Act’s provisions are unlikely to be sufficient to your needs. 

Under this act:

• If you have a spouse and you have children in common, your spouse gets the first $300,000 of your estate, and your natural-born children get whatever is left, divided equally between them.
• If you have a spouse but no children in common, your spouse gets the first $150,000; the rest is split equally between your spouse and any children you have from previous marriages.
• If you have no spouse but have children, your estate is divided equally between all of your children. 
• If you have no spouse and no children the courts distribute your money first to your parents, then to any brothers and sisters, and then to any nieces and nephews. 
• If you have no viable relatives, then the province takes your property.

Dying intestate can also delay the ability of your relatives to access their funds. For example, money going to minors is managed by a public trustee until the child turns 19. In addition, your will will have a public administrator rather than an executor, which can result in additional delays.

Our team can help you distribute your assets properly. For example, if you have step-children that you love and want to provide for, our team can help you do that. If you’re a business owner, we can handle your business succession planning. 

You’ve worked long and hard for your wealth. Shouldn’t it go where you want it to go? 

Estate Plans vs. Wills

An estate plan is more than a will. A will simply serves as the foundation of any proper estate plan.

A will is a legal document that communicates your wishes to the courts. It allows you to have a say in where your assets go and how they are divided. You can also use your will to dictate your future funeral arrangements, as well as to name guardians for your children. You can also name your executor in your will, which means you’ll be able to name the person who will pay your estate’s debts and taxes. 

We help you keep your will legal under British Columbia law. For example, under the law you must make adequate provision for your spouse and children before giving your money to other parties. 

A broader estate plan uses other tools. For example, you can create trusts to pass assets directly to your beneficiaries or to ensure that your assets are used in a specific way. For example, if you have an irresponsible child who you nevertheless want to provide for, you can set up a trust that may only be used to pay that child’s monthly expenses. 

Broader estate planning also involves choosing insurance policies, naming the beneficiaries of your investment accounts, and making provisions for your long-term care. End-of-life planning is especially important. It allows you to name the child or relative you trust to manage your affairs in the event that you become incapacitated. 

Planning at this stage also allows you to name the facilities or care providers that you’d trust to take care of you as your health deteriorates later. This means you get to vet those providers and choose where you’ll spend that time, instead of a family member whose priorities might not match your own. 

Finally, the lawyers at our firm would note that forming a prenuptial agreement is a vital part of the estate planning process. All marriages end—either as a result of divorce or death—which is why it’s important to protect your existing assets and make provisions for the financial protection of both spouses. Forming a prenuptial agreement is a vital part of the financial planning process that can protect you both.

Prevent Estate Litigation

Estate litigation can tear families apart. Help prevent this distress by ensuring that your estate plan is air-tight. We protect your will from future challenges.

We give you the peace of mind that comes from knowing you’ve protected the most important people in your life both from financial distress and from the distress that comes from arguing over those assets at some future point. 

Start Planning Today

Few people like thinking ahead to a day where they’ll no longer be with the world, or to a day where they’ll be unable to manage their own affairs. Nevertheless, estate planning is vital. 

We have helped thousands of Abbotsford residents manage the wills and estates process. We’ve also helped thousands of Abbotsford residents challenge unfair, illegal, or invalid wills. 

Protect your family and your assets. Reach out to our office to schedule your estate planning appointment today. Call 1-604-504-8309 to get started.