Will Requirements

Posted on: June 22, 2012

KeyboardREQUIREMENTS FOR A WILL (B.C.)

It is important for you to make a will when you are capable of doing so. This means that you are in good health and that you are mentally capable. If you are mentally incapable, you are not able to make a will.  Mental capacity requires the following:

  1. you must understand that you are making a will and disposing of your property
  2. you must not have a mental disorder (e.g. delusions, dementia)
  3. you must not be a minor (under age of 19) except in certain circumstances
  4. you must realize what is in the will and agree that is what you want (knowledge and approval)
  5. you must make your will of your own free choice and without any undue influence

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Wills Variation

Posted on: June 22, 2012

two people talkingWILLS VARIATION (B.C.)

An application to vary your will can be made by a child or spouse of a deceased. This is an application to seek redistribution of the testator’s estate if it can be established that adequate provision has not been made for the proper maintenance and support of the claimant. 

A child or spouse has six months from the date of probate to bring such an application and the executor must not distribute any portion of the estate to beneficiaries under the will until this time period has passed unless the executor has the consent of all persons who would be entitled to apply or is authorized by court order.

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Probate

Posted on: June 22, 2012

GavelPROBATE

Probate is a court process by which the Supreme Court of British Columbia determines whether it has jurisdiction to deal with your assets and which law will apply. The court will assume jurisdiction if you had assets domiciled in BC as of the date of your death.

There are certain documents that are required to be filed as part of the probate application and generally the approval process may take several weeks.

The cost of probate includes a base fee of $200 in addition to fees payable based upon the value of your estate ($6 for each $1000 or part thereof of your estate value between 25,000 and $50,000 plus $14 for each thousand dollars or part thereof in excess of $50,000). (more…)

Intestacy – Dying without a Will

Posted on: June 22, 2012

Hand with PenINTESTACY – Do I Really Need A Will?

The simple answer is YES! Your will gives you some control over what will happen to the things that you own upon your death. You can make sure that the things that you own will go to the people you want to have them.

Your will is a legal document that leaves instructions about what you want done with everything you own at your death. Everything that you own at your death is called your estate. 

If you die without a will, there is legislation that sets out who will get your estate. You will have died intestate. If you die with a will that does not fully dispose of your estate, you have died partially intestate. The law that governs what happens to your estate on intestacy is called the Estate Administration Act (BC). (**Separate rules apply for First Nation persons under the Indian Act).

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