Wills and Estate Legal Services

WILLS AND ESTATES

 

Whether we are rich or poor, young and old, we all need an estate plan for asset protection, wealth preservation, and for peace of mind that our wishes will be followed should we become incapacitated or die.

An estate plan is partially composed of a Will, a Power of Attorney and a Representation Agreement. This is a more basic, traditional estate plan; it is less costly and will be adequate for most people. This type of estate plan, however, usually requires probate. The disadvantages of a probated estate are the legal fees and court costs involved and the time necessary to transfer the property.

With advance planning many of these problems can be avoided. Alternatives include the judicious use of a Power of Attorney, joint ownership of a bank and investments account. Timing is crucial. Once incapacity strikes, it is usually too late to implement these mechanisms and your only option may be a court proceeding.

There are many other estate planning tools available.

Once a proper estate plan is in place, it is good for the rest of your life, unless you wish to change it or are involved in a divorce.

 

Legal Services

206-2922 Glen Dr
Coquitlam, BC V3B 2P5
(604) 942-8880

Site designed by Ancell Marketing