Thorough, efficient legal services
Carrying Out Final Wishes

Definitions of the Wills, Estates and Succession Act

If you are involved in the probate of a will, below are some definitions and interpretations as set forth in the Wills, Estates and Succession Act that took effect in British Columbia in 2014.

  • Beneficiary - An individual named in wills to receive a portion or all of an estate, or an individual who has a beneficial interest in any trusts created by wills.
  • Benefit - In a "benefit plan," this is money paid out under the terms of any benefit plans after the participant's death.
  • Benefit plan - This can take the form of profit-sharing or welfare funds, retirement or pension plans, arrangements, schemes, contracts or trusts that pay out annuities for variable or fixed-terms or for life, retirement income funds or savings plans registered under Canada's Income Tax Act or tax-free savings accounts within the Act.
  • Descendant - Lineal descendants throughout multiple generations.
  • Designated beneficiaries - Those to whom benefits are payable, or those for whose advantage benefits are payable by designation.
  • Estate - All property formerly owned by a person who has died.
  • Foreign grant - Grants of probate, that can include letters of verification issuing from Quebec, or grants of administration or similar documents alleged to be similar issued by courts outside of British Columbia.
  • Foreign personal representatives - Those personal representatives to whom foreign grants have been made.
  • Gift - This term includes appointments that affect property besides the appointment of an individual as executor of a will, beneficial bequests or devises.
  • Intestate - One who dies without having a will.
  • Intestate estate - An estate of an individual who dies without having a will.
  • Intestate successor - One entitled to receive a portion, or all, of an intestate estate.
  • Nominee - One granted power over the financial affairs, as applicable under the Patients Property Act; lawyers acting under the enduring powers of attorney in Part 2 of the Power of Attorney Act; representatives acting under representation agreements made under Section 7 of the Representation Agreement Act, and those appointed under Section 51 of Canada's Indian Act.

As these definitions and terms are not inclusive, those involved with the probate of a will may wish to consult an estate lawyer for guidance.

Source: The Canada Legal Information Institute, "Part 1 — Definitions and Interpretation," accessed Jan. 07, 2016

No Comments

Leave a comment
Comment Information
Marie-Louise Fast Marie-Louise Fast Lawyer & Notary Lawyer Profile

How Can We Help You?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an lawyer-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Keep In Touch

Fast & Company Law Firm
5080-8171 Ackroyd Road
Richmond, BC V6X 3K1

Phone: 604-273-6424
Fax: 604-273-2290
Richmond Law Office Map

Map & Directions