Accessible Wills and Estate Planning for
Bowen Island Families

People procrastinate over wills and estate planning for many reasons: they may fear it will be expensive or time consuming, they may be stuck wrestling with difficult decisions, or they may just not know how to get started. As a result, people put off making their wills, year after year.

After years of helping families with their wills and estate planning, I understand the barriers that prevent people from taking these important steps. My goal is to reduce those barriers by:

Demystifying the law
I help you make informed decisions by discussing how you could be affected by British Columbia’s laws regarding inheritance, guardianship, taxation and more.

Making planning understandable
My clients leave knowing what their legal documents mean. You will not have the blind “sign here, sign here, sign here” experience with me.

Making planning convenient
We can meet in person or virtually.

Making planning practical
Estate planning is not a one-size-fits-all process. I work with clients to identify their personal goals, and then advise on how to best meet those goals.

Making planning affordable
I charge flat rates for Wills, Powers of Attorney, and other common planning documents. My prices include all meetings, advising, drafting, etc., that goes into the preparation of those documents. We discuss fees up front, so you don’t need to worry about escalating costs as we work on your planning.

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Why does everyone - especially parents - need a will?

Having a will allows you to do two key things:

Control the distribution of your assets

Appoint guardians to care for your children

If you don't have a valid will, legislation will impose defaults that are unlikely to align with your wishes for the care of your family and assets

For example, if you pass away and your minor children are left with no surviving guardians, they will be placed under the care of BC’s Director of Child Protection, and the assets they inherit will be controlled by the Public Guardian and Trustee, for a significant fee.

Since minors cannot inherit assets directly, it is crucial for parents to have a valid will that sets up trusts to hold assets for their kids until at least the age of majority.

What is an Estate Plan?

Consider that you will work your entire life for your assets; don’t you want them protected upon your death?

An estate plan consists of the documents and strategies you put in place to ensure that your loved ones are provided for upon your death. A thorough estate plan enables you to minimize losses to taxes, fees and legal expenses, and control how your assets are distributed to your chosen beneficiaries.

Estate plans often involve:

A Will

Through your will you can set out how you want your assets divided among your chosen beneficiaries.
You can set up trusts to hold assets (of any amount) for your children until at least the age of majority (19).
Many parents prefer to have their assets held and protected for their children until a later age, such as 25 or 30.

You can appoint the people you want to fulfill the various roles:

Guardian

The person(s) who will care for your minor children (under 19 in BC)

Trustee

The person(s) who will manage assets for your minor children until the age of majority or beyond.

Executor

The person(s) who will manage the administration of your estate, including tax filings, the probate process and the transfer of assets to your beneficiaries or trustee.

Wills also contain directions for how your executor is to divide your assets among your chosen beneficiaries, and/or how your trustee is to hold those assets in trust for beneficiaries.

Beneficiary Designations

We will review the terms of your pensions, life insurance plans, RRSPs and TFSAs, to ensure you are using beneficiary designations effectively.
In some cases, we may enact additional Beneficiary Designation documents to put the proceeds of these plans into trust for minor beneficiaries.

RESP planning

Without proper planning, RESPs collapse upon the holder’s death instead of being held for the use of their children.
We will review the terms of your RESPs to ensure that those plans would stay active and useable for your kids’ educations.

Planning for Lifetime Incapacity

A complete estate plan also provides for your own care, in the event that you experience a period of incapacity during your lifetime, such as through illness or injury. Using the following documents, you can appoint trusted persons to provide assistance:

Enduring
Power of Attorney

For financial and legal affairs

Representation
Agreement

For health care and personal care decisions

Without valid appointments in place through these documents, even your spouse would be unable to manage many of these matters on your behalf.

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Accessible Wills and Estate Planning for Bowen Island Families