Garton & Harris

September 2020 Archives

How to transfer bank accounts in estate administration

Individuals who act as executors have a tremendous amount of responsibility, and it's common to not quite know where to start. One of the first questions British Columbia executors may have in estate administration is how to transfer bank accounts in order to take control of the estate. While there are several ways this may happen, ultimately it comes down to providing adequate proof and paperwork to the bank. The bank must be able to confirm that the recipient has sufficient permissions and will also require proof that the original holder is in fact deceased.

Are do-it-yourself wills worth the risk?

More than half of those living in British Columbia do not have an estate plan. It may be easy to list the reasons why, including the fear of facing their mortality, misconceptions about the purpose of an estate plan and, of course, the cost. Therefore, it might seem that those who choose do-it-yourself kits to create their wills have an advantage over those who die without an estate plan in place. However, some financial advisors strongly disagree.

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