| Top 10 Reasons to Make a Will |
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If you are one of the more than 50% of British Columbians who do not have a will, you need to read this list. Learn how critically important it is to make a will and then order one here online. You can be finished the order process in about 15 minutes. It is now easier than ever to protect your family and friends by making a will. 1. No Gifts to Friends, Charities or Certain Relatives Without a will, it is not possible to make gifts to your friends, to charities or to certain relatives. Your estate will be distributed according to law and these beneficiaries are not included. 2. If you Do Not Make a Will, the Government Will Do It For You! If you do not have a will, your estate is distributed according to a system set up by the government under applicable law. For example, your spouse/partner will get a certain share and your children will get shares. However, your wishes are unlikely to be the same as this system. 3. Expensive Legal Fees If you do not have a will, a court application will have to be made in order to appoint an administrator for your estate and, if necessary, a guardian for your children. These applications can be costly, 4. Your Children's Money Will Go to the Government Public Trustee If you do not have a will, any money left to minor children will be administered by the Government Public Trustee. Do you really want a government bureaucracy looking after your children's money? 5. You Cannot Choose the Guardian(s) for Your Children If you do not have a will, you cannot appoint a guardian for your children. A court would have to do that and the court might not choose the person that you would have wanted. 6. You Cannot Choose the Executor of Your Estate If you do not have a will, you cannot appoint an executor to administer your estate. A court would have to do that and the court might not choose the person that you would have wanted. 7. Distribution of Your Estate Will be Delayed If you do not have a will, the distribution of your estate could be delayed for about a year after your death. 8. No Opportunity for Tax Planning or Estate Planning There is no opportunity for a reduction in taxes or probate fees if you do not die without a will. Depending upon the circumstances, this could result in a huge and unnecessary tax bill for your estate. 9. Children or Loved Ones with Special Needs May Not Be Taken Care of Adequately Children or dependents with special needs cannot be accomodated properly in the absence of a proper estate plan including a valid will. It is critical to get proper advice if you have children or dependents with special needs. 10. No Opportunity to Deal with Claims Against the Estate If you think that there may be a claim or claims against your estate from beneficiaries, relatives or creditors then it is imperative to obtain proper estate planning advice. In many circumstances, such claims can be anticipated and defeated with proper estate planning. |
