Who needs to have a will?
Every adult person who owns anything no matter how little and/or has children should have a will. By preparing a will, you will get to control the distribution of your assets. The provisions set out in a legally binding will must be followed, unless they are challenged as discussed below. You will spend your entire life building up your assets and by having a will, you get to choose who to give those assets to when you die.
- Who needs to have a will?
- What does a will normally have in it?
- Who do I need to appoint in my will to handle things when I die?
- What happens if I die without a will?
- What happens if my will is found to be invalid?
- Can someone challenge my will?
- I want to exclude a child from receiving anything in my will, or leave them much less than the other kids. Can I do this?
- I’ve been told to consider trusts for my children in my will. Is this worthwhile and how do I accomplish this?
- I have a will but it is old – how often should I review it?
- I’ve moved here from another province where I had done a will. Is my will from that other province still valid?
- I have disabled children or family members and want to leave them an inheritance, but do not want them to lose their disability benefits. How do I accomplish this in my will?
- I have no family members who I want to be my executor or trustee. Who can I appoint to handle my affairs?
- I want to donate some money to charity when I die. How do I accomplish this in my will?
- I have property in another province or in another country. Will my BC will govern those assets?
- I do not like my child’s spouse. How can I ensure that the inheritance I leave is not going to get into that spouse’s hands?
- I don’t want my children or grandchildren to get a large inheritance when they hit 19 years old. How do we ensure they get an inheritance but do not get control of all the money until a later age?