Estate planning beyond preparing your will


The key legal document in most individual’s estate plan is their will. Beyond that, key legal documents include a power of attorney or a representation agreement. These legal documents are not the only thing a client can do to work through a thorough estate plan. Much of estate planning actually involves dealing with assets and individuals in your life in such a way that your will does not need to address these things on your death. You can structure asset ownership in such a way to avoid probate. You can designate beneficiaries on certain investments so these funds go directly to the beneficiary rather than into your estate. You can plan to transition your business to children or employees well in advance of your death. Your personal wishes regarding organ donation should be attended to outside of your will. You can even consider making gifts to individuals or charities while you are alive to see these gifts used and enjoyed. Many of these options have unique requirements to consider to ensure the plan is properly carried out. Trust our Kelowna team of estate planning lawyers to assist you with these aspects of your estate plan.

Contact the experienced team at Montgomery Miles & Stone Law Firm in Kelowna, BC for answers to your Wills and Estates questions.

I’ve been told that I should put my child on title to avoid probate tax. Is this a good idea? || I’ve been told that by putting my child on my bank account with me, it will save my estate money when I die and that this child will get the money in my bank account. Is this correct? || What happens to our children if both my spouse and I die? || Can I designate assets to go to someone outside my will, and how do I accomplish this? || I want to donate my organs when I die. How do I accomplish this? || I’ve had children with my past spouse and am remarried. How do I ensure I provide for my children and my new spouse?

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