When a loved one passes away, there can be a lot more to deal with than people initially realize. Beyond the emotional toll a loss takes on people, which can be overwhelming, there are also numerous financial and legal details to address.
There are things people can do legally to make sure their financial affairs continue to be in order should they no longer be able to take care of things on their own. A power of attorney is a document that gives one or more people the green light to manage money and/or property on someone else's behalf. There are two types of powers of attorney in British Columbia and the rest of the country: general or enduring.
Getting an inheritance can take some time. One of the last jobs an executor is likely to do during estate administration in British Columbia is to disseminate inheritance funds. There are many things to be done with an estate before it can be closed, the first of which is taking inventory of the decedent's assets and debts. Estate planning documents must be located and must be in order before anything else can happen.