The Essential Legal Document
May 8, 2007 12:30 PM
Filed Under: Ask A Lawyer Ask BCCC
What is the one legal document every adult needs, regardless of occupation, age or personal wealth? A Will.
When a person dies without a Will, a court application must be made appointing a person as “administrator” of the deceased’s estate. This process is often more costly then writing and probating a Will. It also often takes much longer; and, in the meantime, the surviving family members will have difficulty dealing with assets until the court order is obtained.
When a person dies without a Will or with a Will which fails to dispose of all of one’s assets, BC legislation divides assets among certain surviving family members in particular ways. This method of distribution may not be in line with the deceased’s wishes and does not allow for tax planning or planning for vulnerable, incapacitated or underage beneficiaries.
In the end, estate administration for an individual who dies without a Will is costly and time consuming and the deceased loses the chance to make his or her final gifts. Although planning for death is an unpleasant matter to discuss, it is more unpleasant for your loved ones to deal with. Taking measures now will ease the burden they face.
