Vancouver Estate Law: Legal Wills
Having a legally valid will may be one of the easiest ways to avoid a headache for your family and loved ones. Not only can a will help your family move on, it is also one of the only ways to ensure that your wishes and estate are respected, administered, and distributed in the way you want them to be.
What Is a Legal Will?
A will is a legal document that sets out what you want done with everything you own. This collection of accumulated lifelong possessions is called the “estate.” The will names your executor and your beneficiaries. Your executor is the person whom you choose to help carry out the instructions indicated in your will, and your beneficiaries are the individuals who are to receive some portion of your estate.
Who Should Make a Legal Will?
All responsible adults who are mentally capable and above the age of 16.
Legal Wills for Singles
Even if you are not married or have children, making a legal will is essential to ensure that your belongings are inherited by the people who are most important in your life.
Legal Wills for Couples
A will is especially important when you get married and start a family, as it also outlines who you would like to become the guardians of your minor-children in the unfortunate event of your death.
Legal Wills for the Elderly
The law sets out that you must have the mental capacity to make a will. This means that you should make your will when you are in good health, and not leave it to the last minute in case you run into health issues.
What Happens If I Pass Away Without a Legal Will in Vancouver?
The law dictates who will inherit your estate if you have no will. Generally, your spouse, child or a close relative can apply to the courts to be appointed as the person to handle your estate. If you have no family or relatives and you pass away without a will, your estate will go to the government. Therefore, it is important to have a knowledgeable team of estate lawyers record your wishes in a legally recognized document. In addition, it is also important to seek advice from a team of lawyers who can help you structure your will so as to avoid unnecessary tax costs.
Can I Make a Will in Vancouver?
Based in Vancouver, Winright Law provides comprehensive will and estate planning services. We provide our clients with excellent service, and take the time to tailor our services to each clients’ specific needs. We would be more than happy to help you with your will, and to answer any questions you might have during your initial consultation, before retaining us.