Leave more assets to your heirs, not the Government.
Anyone who has considered having a Will prepared or who has suffered a family loss have been forced to consider the legal process of Probate. Many people do not know what it is and fewer still know that through relatively simple planning the impact of Probate on you and your family can be reduced or eliminated entirely.
Probate is an approval process administered by The Supreme Court of British Columbia that validates your will and confirms the appointment of your Executor (the person you put in charge of your will). Without Probate your Executor can hit a wall. Imagine your Executor contacting banks or your pension plan provider, asking them to hand over your money. Obviously, those institutions would want proof that you had died, that the will is valid, that the Executor is the person named in your Will and that they won’t be sued if the Will is contested. Under British Columbia Law for your Executor to begin dealing with your assets upon your death they must first apply to the Court for a Representation Grant of Probate that provides authority to your Executor(s) to wind up the affairs of the deceased. The application process is a maze of required forms, official searches and legal jargon which overwhelm the most sophisticated people. The process often takes weeks, if not months to navigate and, once approved, requires the estate to pay a provincial tax of 1.4% of the estate’s value (probate fees).
With the advice and assistance of an experienced Lawyer, the maze can be navigated swiftly and economically.
Through the timely advice and careful planning with a Lawyer it is possible to reduce or eliminate the requirement for Probate entirely saving your family time, stress and money.
Miller Law is ready, willing and able to assist you in navigating the maze either through preplanning or in the event of a family loss.