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Report provides revealing statistics on wills in Canada

Life can quickly become overwhelming. Often people in Canada are so focused on the present, they may not see a need to focus on the future, including creating a will. While there are a variety of factors that delay people from creating wills, a recent report by the Angus Reid Institute reveals some information that may be surprising to some.

Personal and healthcare directives in wills in Canada

When people are no longer able to make decisions for themselves, yet still want some control over what happens in their lives, having a health care or personal directive drawn up may be the answer. Wills in Canada can incorporate such directives, which will appoint someone to make healthcare decisions on their behalf should they not have the mental capacity to do do. Generally speaking, a power of attorney is the same thing. 

Can wills made in British Columbia be revoked?

Many people state clearly in a will what they would like to have happen after they die. British Columbia resident fashion wills to state what should happen with their assets and their belongings and anything else having to do with their death such as funeral arrangements. Every province and territory in Canada has laws protecting the writers of wills, also known as testators. These laws are fairly consistent and protect testators' wishes.

Wills can spell out who inherits digital accounts in B.C.

Living in a technological age, most people have social media pages on sites like Facebook, Twitter and Instagram. All these sites need passwords to access. What happens if tragedy should strike and the owner of the pages dies? British Columbia residents can make provisions in their wills as to who looks after their digital accounts when they die.

British Columbia physicians and their patients' wills

Doctors may have more of a say in what happens to their patients' estates than most people thought. British Columbia doctors may be called upon to testify in court as to the mental capacity of patients during the time wills were made. This usually happens after a patient has died, but in some instances, a physician's advice is called upon when the patient is living and the lawyer working on a will sends his client for a mental assessment if the lawyer has some concerns.

Advance care planning vs. living wills: What is the difference?

The terms advanced care planning and living wills are used interchangeably. But in British Columbia, and indeed in all of Canada, living wills is an American-coined term and has no legal status in Canada. That doesn't mean to say Canadians cannot make plans in the event they are not able to communicate their wishes regarding end-of-life care.

Wills important for B.C. business owners

When business owners are no longer of this mortal coil, it's extremely important that they have left behind a will. Wills are important for every adult in British Columbia, but when someone owns a business, it's crucial to everyone associated with it -- family members, employees, managers and co-owners -- that the business can survive without the deceased owner. And if there is a stakeholders' agreement in existence, it should spell out how to approach issues like death.

DIY wills in British Columbia not always such a good idea

There may be instances when British Columbia residents think it would save money to purchase "Do It Yourself" (DIY) wills kits, but that may not be the wisest decision. Whether it's to try to save money, or to save time, DIY wills may cost residents more time and money in the long run. One thing is a certainty -- all residents of legal age in the province should have wills.

Multiple wills in British Columbia

Having more than one will has a very limited purpose.  Multiple wills help reduce the overall value of assets that have to pass through probate in an uncontested will situation. The multiple-will technique has been used in Ontario to reduce exposure to probate taxes in that province, but it's somewhat different in British Columbia.

British Columbians needn't leave kids anything in their wills

Planning what to leave whom after death can be an emotionally fraught task, especially if children are in the picture. But wills don't just have to include children. In fact in British Columbia -- and all of Canada -- folks don't have to leave anything to their kids if they choose not to.

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