It91裸聊视频檚 not as horrible as you might think.
In fact, there are circumstances when having a will, or not, wouldn91裸聊视频檛 make much difference at all.
I suspect that most people are concerned about what would happen to their stuff: 91裸聊视频淚f I don91裸聊视频檛 have a will naming beneficiaries, do my assets go to the government?91裸聊视频�
The law provides for default beneficiaries if you haven91裸聊视频檛 designated beneficiaries in a will.
You can access a link to 91裸聊视频淒ivision 1 91裸聊视频� Distribution of Estate When There is No Will91裸聊视频� of British Columbia91裸聊视频檚 Wills, Estates and Succession Act (the 91裸聊视频淎ct91裸聊视频�) here ().
The legislation starts by saying that if you die with a spouse and no living descendant, the default beneficiary is your spouse.
That default works for most people in that circumstance.
Not having a will also means no appointed executor. You might ask: 91裸聊视频淗ow can an estate be dealt with if there91裸聊视频檚 no executor?91裸聊视频�
Easy-peasy!
There91裸聊视频檚 another provision of the Act that gives a priority list of people who the court can appoint to administer the estate if there91裸聊视频檚 no will. It91裸聊视频檚 section 130 which can be accessed here ().
The top of the list is your spouse.
But, you might ask: 91裸聊视频淒oes it cost a bunch more money to administer an estate using the defaults of the Act than if there was a will?91裸聊视频�
The answer is no.
The process of obtaining an estate grant (commonly known as probate) is needed regardless of whether or not there is a will. There are just slightly different forms if there91裸聊视频檚 no will.
The same probate fees will have to be paid.
And the estate grant process shouldn91裸聊视频檛 cost any more in legal fees.
That might beg the question: 91裸聊视频淲hy go to the expense of having a will!?91裸聊视频�
There are many reasons.
One key reason is that the default beneficiary provisions don91裸聊视频檛 work out well a lot of the time.
Consider, for example, a scenario where you have a spouse and a child.
Most people would want their spouse to be their sole beneficiary, with their estate going to their child only if their spouse predeceased them.
The default provisions are a little complicated. A lump sum goes to the spouse ($150,000.00 or $300,000.00, depending on whether the child is also the spouse91裸聊视频檚), with the balance divided between the spouse and the child.
The other default provisions are kind of fun to read through. I invite you to read through section 23 of the Act, which sets out a dizzying set of defaults if you die without a will and have no spouse. It goes through an expanding family tree trying to find someone the deceased is related to and goes so far as great-grandparents and their descendants!
And yes, the very end of that paragraph says that if none of those defaults apply, 91裸聊视频渢he whole estate passes to the government91裸聊视频�91裸聊视频�!
Another important reason for a will is to deal with minor children.
If you don91裸聊视频檛 have a will that appoints a guardian and a trustee of minor children, there is a very expensive government body called the Public Guardian and Trustee of British Columbia (91裸聊视频淧G&T91裸聊视频�) that must handle their financial affairs.
And unless there is a trust set up in the will that requires a child91裸聊视频檚 inheritance to be held for them until they are more mature, they will have that lump sum on their 19th birthday.
Most parents want provisions that hold back a child91裸聊视频檚 inheritance until they reach age 30, with a trustee able to use their discretion to dole out amounts that might be helpful for the child91裸聊视频檚 education and other reasonable needs until they reach that age.
There are many other reasons why a properly drafted will can be of significant value, but those will have to wait for future columns.
Effective estate planning can be very simple. It can also be very complex. I encourage you to consult with an estate planning lawyer so that you can be properly advised and make an informed decision about what mechanisms to put in place to ensure your wishes are followed.
Paul Hergott
Lawyer Paul Hergott began writing as a columnist in January 2007. Achieving Justice, based on Paul91裸聊视频檚 personal injury practice at the time, focused on injury claims and road safety. It was published weekly for 13 陆 years until July 2020, when his busy legal practice no longer left time for writing.
Paul was able to pick up writing again in January 2024, After transitioning his practice to estate administration and management.
Paul91裸聊视频檚 intention is to write primarily about end of life and estate related matters, but he is very easily distracted by other topics.
You are encouraged to contact Paul directly at paul@hlaw.ca with legal questions and issues you would like him to write about.
