By Jeremy Anderson | Contributed
Benjamin Franklin famously said there are only two certainties in this world: death and taxes. Both are certainties, but they also share one commonality: both require proper planning and the advice and expertise of trained and knowledgeable professionals.
While neither are enjoyable topics to deal with, they are nevertheless essentialaspects of our lives that require our attention. If you die without a will, your estate may not be distributed in the way you would have wished, and the costs of administering your estate may also be higher.
This week is Make a Will Week in British Columbia, making it an excellent time for all British Columbians to prepare a first will or bring an old will up to date.
You don’t just need a will when you are old. Having a will ensures your wishes are respected if the unexpected happens at any age. It would help if you considered having a will prepared or updated when you:
• Have been married or remarried
• Are in a common-law marriage
• Recently had children or grandchildren
• Have minor children
• Have recently been through a common-law separation or divorce
• Own a business or have investments
• Own valuable heirlooms such as collector cars, art or jewelry
• Have a cause or organization that you wish to donate to
Having a will helps ensure that important questions for parents – like who will raise your young children if you and your spouse die – are answered. And a will is the best way to ensure that the people, charities and organizations you cherish most receive the benefit of your estate.
In B.C., notaries public can draw wills by which the will-maker directs their estate to be distributed immediately at the time of their death or if gifts are made to a class of beneficiaries when the youngest of that class reaches the age of majority.
While you don’t necessarily need a legal professional, such as notary public or lawyer, to draw your will, having a professionally prepared will helps to ensure all of the legal formalities that are required to make a will valid are met and mitigate the risk that your will is successfully challenged in court after your death. Taking the time to pay a professional to draw your will can save the loved ones you leave behind headaches and heartaches at an already difficult time.
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Jeremy Anderson is the owner of Van Isle Notary in Sooke. Call 250-363-9732.
ALSO READ: Victoria woman becomes the first Canadian to create a fully digital legal will
editor@sookenewsmirror.com
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