Garton & Harris

Posts tagged "estate plan"

Understanding testamentary trusts and how they may change

British Columbia residents interested in probate and estate planning issues may want some information on the different types of trusts. Depending on how they are used, there may be issues with the trust changing categories.

Safety deposit boxes and estate administration

When a person in British Columbia dies, leaving behind a safety deposit box leased or rented either solely in his or her name or shared with another person, the law provides how the box should be opened and handled. This is important to ensure that the contents of the safety deposit box are correctly accounted for and included in the deceased person's estate.

How the location of the executor can affect an estate

Individuals in British Columbia who are working on their estate plan may wonder whether the location of the estate executor has any impact on their estate. After a person's death, the residency of their estate will be the same as the residency of the estate executor. The executor's location, therefore, can have a major impact on how the estate is taxed.

How an estate is handled when there is no will

It may be difficult for some readers to think about and plan for end-of-life issues, and it can be tempting to put off estate planning and will preparation. The Wills, Estates and Succession Act recently passed in British Columbia outlines how a person's estate will be handled in probate in the event that there is no will.

Trust funds can still be a good idea for some families

Although many celebrities have been making a big deal about why they are choosing not to leave a trust fund to their kids, some British Columbians may want to consider it. Even if a person does not have a multi-million dollar fortune, setting up a modest trust fund could help to protect the inheritor from having their lives potentially ruined by future financial burdens that may pop up in adulthood.

The importance of periodically updating one's estate plan

British Columbia residents who have drawn up an estate plan may be surprised to learn that they may have to revisit their plan periodically to make important updates. Due to changes in a person's life and the law, these updates can potentially have a large effect on how their property is distributed.

Schedule An Appointment With Us

Send Us An E-mail
Scroll To Top