Intestacy – Dying without a Will

by | Jun 22, 2012 | Estate Planning, Money, People of the Law, Planning, Uncategorized, Wills, Wills & Estates

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).

If you die without a will, the administration of your estate usually takes longer and costs more. This means that your loved ones may receive less at the end of a long, complicated and time-consuming process.

Under intestacy, the following distribution scheme applies:

  1. spouse and no issue – entire estate to spouse (you may have more than one spouse in law and, if so, the estate is divided proportionately)
  2. spouse and one child or issue of deceased child – spouse gets first $65,000, household furnishings, life estate in spousal home (as long as spouse lives in the house or rents it, but terminates if the spouse sells the home); spouse and child/issue share residue equally
  3. spouse and more than one child – spouse gets first $65,000, household furnishings, life estate in spousal; spouse gets one third of residue and two-thirds to children/issue
  4. issue (no spouse) – entire state to issue per stirpes
  5. father and/or mother
  6. brothers and sisters (per stirpes)
  7. nephews and nieces (per capita)
  8. other next of kin (same blood line)
  9. kin of half blood
  10. provincial crown

Intestacy can be a significant problem if any of the beneficiaries are receiving disability assistance. If a single person has assets of more than $3000 ($5000 per person with dependants), they become ineligible for disability assistance.

The benefits of having a Will are clear.  You should make your will NOW. There is no need to wait until you get married, you start a family, or some other type of significant life event occurs. 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.

See you legal advisor to assist you in moving forward with this very important part of you estate plan and obtain the legal advice you need to leave dispose of your estate as you wish.

 

 

Disclaimer

The information provided on this website is merely an informative guide and should not be relied upon for legal advice. It is intended to provide general information only. It is recommended that you see a lawyer about your particular legal situation and request legal advice.

 

©Avery Law Office, September 2011

This this information is not intended to be a substitute for legal advice. Individuals should consult with their personal legal professional regarding the information provided herein.

<a href="https://averylawoffice.ca/author/denese_access/" target="_self">Denese Espeut-Post</a>

Denese Espeut-Post

Denese Espeut-Post is a sole practitioner operating the boutique firm, Avery Law Office, with offices in Summerland and Princeton from which the Avery Law team strives to provide legal and professional services with a personal touch in the areas of wills and estates and real estate. Denese has been the gracious recipient of awards for both her quality of service and legal knowledge. She is proud to serve not only her clients, but her community, and is dedicated helping those in need of her services navigate difficult legal situations.