The intent of the 2014 Wills, Estates and Succession Act was to modernize estate law in the province while also making the probate process easier for the public. Probate is needed as per the policies of the financial institutions or agencies holding the assets that are part of a deceased person’s estate. Some agencies require executors to apply for representation … Read More
How Do I Know If Probate Will Be Necessary?
In 2014 some changes were made to the Wills, Estates and Succession Act that affects residents of British Columbia. The changes are intended to modernize estate laws and make the probate process easier. Below are some general questions and answers regarding the process. For more specific information about individual probate circumstances, consult a probate lawyer in the province. Does my … Read More
What Do Alternate Estate Executors Need to Know?
Sometimes people named as executors of estates are unable to serve in that capacity. They may have died at the same time as the decedent, as in spouses killed in an accident, or they might have predeceased the decedent. There are other reasons that could preclude a named executor from carrying out his or her duties. Perhaps that person no … Read More
Have You Chosen the Right Person as Executor of Your Estate?
In order to have your wishes carried out regarding the administration of your estate, it’s important to select the right executor to handle your affairs when you die. Making the wrong choice can delay the distribution of assets to your heirs, inspire contested will battles and potentially open the estate to tax liabilities. The right person for the task should … Read More
When the Administrator Cannot Serve in That Capacity
There are cases where it is appropriate that the Public Guardian and Trustee (PGT) administers estates when the circumstances do not permit the beneficiary, intestate successor, executor or other eligible person to serve in that capacity. When that occurs, the PGT can agree to an appointment as executor. However, when these situations arise, it’s important to understand that the PGT … Read More
What Are the Main Duties of a Trustee of an Estate?
At some point during the probate of an estate, the estate’s personal representative ceases to act as the executor and becomes the estate’s trustee. This usually happens once all of the personal representative’s duties have been met. Trustees are responsible for maintaining the assets of the decedent’s estate once all legitimate debts have been paid. According to the Law of … Read More
Understanding the Probate Process
In March of 2014, British Columbia enacted the Wills, Estates and Succession Act, which modernized estate law and made the probate process easier. Whether probate is necessary or not depends upon the policies of the financial institutions or agencies that hold any assets that are part of a decedent’s estate. Some agencies require that executors apply for representation grants so … Read More
The Duties of an Executor, Part II
This is the second installment of our series on the duties of an executor in British Columbia. Many executors elect to retain a lawyer to prepare the paperwork and provide legal advice on the probate process. Legal fees are considered to be a legitimate expense of the estate and are paid out of the assets. Most lawyers can provide … Read More