Estate Planning

Estate planning is an incredibly important process that every person should undertake during their lifetime. An estate plan is a collection of legal documents that protect your wishes regarding your assets, health, and family should you lose capacity or pass away. While wills play a major part in estate planning, many other documents are also involved that are just as significant.

At Watson Goepel, our Vancouver and West Vancouver estate planning lawyers have decades of combined experience helping clients draft estate plans tailored to their unique needs. We recognize that this process is necessary for all individuals, regardless of the size of their estate. That’s why we aim to protect your loved ones, preserve your assets, and properly address any legal complexities when you work with us.

Why is Estate Planning important?

Estate planning in British Columbia is essential for a wide range of reasons. Unfortunately, if you pass away without a valid will, your assets will be distributed according to BC’s intestacy laws, and not in accordance with your wishes. To retain control over your estate and decide how it will be administered if you are incapacitated or divided when you’re gone, you’ll need to create a valid will. You may also implement other valuable estate planning tools, such as Powers of Attorney, Health Representation Agreements, and Committeeship Grants. Our team is able to help with the following: 

• Directing the distribution of assets: When you create an estate plan, you will have the opportunity to designate beneficiaries of your estate. This means that you can specify who inherits what after you’re gone. You can direct the distribution of many kinds of assets, from real estate to personal heirlooms. By creating a detailed will that outlines your intentions for all your assets, you can also help prevent contentious disputes and ensure your wishes are followed.
• Protecting your family & loved ones: Should you have any children or special needs dependents when you pass, a will allows you to name a guardian for them. This way, you can choose who will look after the important people in your life if you are unable to do so. Without specifying guardianship in an estate plan, courts in BC may decide it for you.
• Reducing taxes & preserving wealth: A legal professional can help you strategically plan your estate so as to minimize taxes and other costs, such as BC provincial probate fees. They can also advise you about trusts and other tools you can use to protect your assets and maximize the inheritance you leave for beneficiaries.
• Planning for incapacity: An estate plan allows you to appoint a Power of Attorney or Powers of Attorney that will handle your finances or legal matters if you become incapacitated in some way. You are also able to specify who you would like to make decisions on your behalf when it comes to medical decisions and treatment preferences through a Health Representation Agreement.

Without a comprehensive estate plan, your surviving family members and loved ones may be left facing greater stress, costs, or possible legal battles. In addition, the distribution of your assets could be delayed after you pass. At Watson Goepel, our Vancouver estate planning lawyers provide legal advice that will help you plan your estate effectively.

Our services include:

• Preparing wills and family law agreements
• Advising on the validity of wills
• Drafting and filing probate or administration documents with the court
• Communicating with banks, government agencies, and other organizations to deal with the deceased’s assets
• Support for executors and administrators
• Passing the executor or administrator’s accounts before the court
• Developing strategies to minimize taxes and/or probate fees
• Inter-generational family wealth planning
• Assisting with estate freezes and implementing trusts
• Advising on the use of enduring Power of Attorney instruments
• Advising clients about marriage agreements as they pertain to estate plans
• Arranging the transfer of assets through living or inter-vivos arrangements such as trusts or joint ownership of real property
• Creating tailored estate plans that incorporate your business interests
• Estate litigation
• Estate administration
• Committeeship Applications
• Representation Agreements
• Addressing intestacy when a loved one dies without a will
• Helping individuals with challenges to estate plans (due to undue influence or other reasons)

Engaging our experienced Watson Goepel estate planning lawyers can help you manage the probate process, ensure all legal requirements are met, and safeguard the interests of your beneficiaries. With the guidance of our knowledgeable legal professionals, the planning process, or the transition following a loved one’s passing, can be smoother and less stressful for all parties involved. To discuss how we can help, schedule a consultation with our team now.