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{{Dial-A-Law TOC|expanded = wills}}
This script discusses why you should have a will, and if you don’t, who looks after your estate and how it is divided if when you die without one.
==Why should you make a will?==
Every adult who owns assets or has a spouse or young children should have a will. SurprisinglyBut surprisingly, many people don’t have one. The few hours that you spend with a lawyer planning your estate could save your spouse, children , and other beneficiaries much time, effort , and money. By not having If you don’t have a will, you lose control over who gets how much of your estate and when. You also give up the right to appoint a guardian of your choice for any young children you have. And the costs to administer your estate will be drastically increasedmuch higher. Script 176, called “Making a Will and Estate Planning”, has more on this.
==How will is your estate be divided if you die without a will?==If you die without a will, BC’s new ''[http://www.bclaws.ca/civix/document/id/complete/statreg/09013_01 Wills, Estates and Succession Act]'' (WESA) dictates controls how your estate will be divided. It sets out the following rules, as follows: *If you have a spouse and no children, your estate passes goes to your spouse.*If you have a spouse and children, then what passes goes to whom depends on whether the children are also your spouse’s children. If so, your spouse gets the first $300,000 value of your estate. If not, your spouse gets the first $150,000 value of your estate. Then one half of the balance rest of your estate goes to your spouse. The other half is divided among your children. Your spouse has the right to acquire the family home from your estate as part of his/her their share.*If you have more than one spouse (which is possible under WESA, and described explained later in this script), they share the spouse’s share equally (unless they agree or a court decides differently).*If you have no spouse, then your estate is divided among your children, divided among them equally.
*If you have no spouse and no children, then your estate goes to your parents. If your parents aren’t alive, it goes to your brothers and sisters, divided among them equally.
*There are further other rules to figure out which next of kin may receive your estate if you have no spouse or children, and your parents and siblings aren’t aliveor you have no siblings. ==Does a “spouse” include a common-law spouse?==The definition *If no one qualifies under the rules as your next of “spouse” in WESA includes a person who has lived with you for at least two years in a marriage-like relationship immediately before kin, your death. It can be a common-law gay or lesbian relationshipestate is said to “escheat” to the crown. This means that more than one person could be your “spouse” for it goes to the purpose of sharing your estateprovincial government.
==When would the children get their share?Spouse include common-law spouse==Without a will, the Public Guardian and Trustee becomes the trustee and holds the child’s shares The definition of the estate spouse in trust WESA includes a person who has lived with you for them until they’re 19 at least 2 years old. The child’s parent or guardian would have to apply to the Public Guardian and Trustee for any money needed for things in a marriage-like living expenses or educationrelationship immediately before your death. This It can be a hardship if the child is quite young and the parent or guardian needs the money for daycommon-to-day expenses. When the child turns 19, they can demand all of their money no matter how much it is, regardless of their maturity law gay or financial responsibilitylesbian relationship. By contrast, if you have a will, you appoint the executor So more than one person could be your spouse and trustee for the share going to a child under 19, and you can direct that the share be used for the child’s benefit, including support and higher education, without government involvementin your estate.
==Who takes control of your estate if you die without a willWhen do children get their share?==In The [http://www.trustee.bc.ca/Pages/default.aspx Public Guardian and Trustee] becomes the trustee to hold a will, you can name an executor to manage your child’s shares of the estate when you diein trust for them until they’re 19 years old. The executor is often a relative, friend child’s parent or guardian would have to apply to the Public Guardian and Trustee for any money needed for things like living expenses or other trusted personeducation. You This can also name be a hardship if the child is quite young and the parent or guardian needs the money for day-to look after any infant children-day expenses. When the child turns 19, they can demand all their money—no matter how much it is or whether they are mature or financially responsible. But In contrast, if you die without have a will, someone must be appointed by you appoint the executor and trustee for the court share going to manage your estate. This person is called an administrator. The court will also appoint a guardian if you have children child under 19 and can require the share to be held in trust beyond age 19. And you can direct that the share be used for the other parent isn’t alivechild’s benefit, including support and higher education, without government involvement.
==Who can apply to administer controls your estate and handle looks after your estatechildren if you die without a will?==Your spouse is the first person who can apply. If you don’t have no spouse or if a will then you haven’t appointed an executor to manage your spouse is unwilling or unable estate when you die. And you haven’t appointed a guardian to be look after any children. So the administrator, then a relative can apply. If there are no relatives willing or able court must appoint someone to do this, then any other eligible these things. The person could apply to be managing the estate is called an '''administrator. This may include a friend of yours, or a professional such as a lawyer or accountant'''. The Public Guardian and Trustee – as Official Administrator for the province of BC – might court will also apply to administer your estate, appoint a guardian if for example, no one else is willing to take on you have children under 19 and the taskother parent isn’t alive.
==Certain conditions may Who can apply to the appointment of an administratoradminister your estate?==Your spouse is the first person who can apply or nominate someone else to apply. If you have debts when you die, the person who applies no spouse or if your spouse is unwilling or unable to be the administrator must get your creditors , then a relative can apply. If there are no relatives willing or able to agree to the application. Alsodo this, the then any other eligible person who applies may have can apply to get be the agreement from other people who could be appointed administrator. In additionThis may include a friend of yours, the friend or a professional may have such as a lawyer or accountant. The Public Guardian and Trustee—as Official Administrator for the province of BC—might also apply to deposit money with the court (called a bond)administer your estate, as a way if no one else is willing to ensure they do the work honestly and competentlyit.
==What does the Certain conditions may apply to appointing an administrator do?==The following are some of If you have debts when you die, the things person who applies to be the administrator must get your creditors to agree to the application. Also, the person who applies may have to get the agreement of other people who could be appointed administrator. And they may have to secure (deposit) money with the court (called a bond), to ensure they do:the work honestly and competently.
==What does an administrator do?==
An administrator must:
*Make funeral arrangements, if required.
*Locate all of the estate’s assets and make sure that they’re secure; for example, the administrator must ensure that a car that is being used cars or a building is buildings are insured, and that important documents are in a safe place.*Advertise in a local newspaper for the sake of potential creditors. *Sell assets that need to be sold. This includes listing and selling real estate after having it appraised; selling stocks, bonds , and other securities; and valuing and disposing of other personal belongings. Sometimes, instead of being sold, assets may be given a certain value and be transferred to an heir as part of his or her their share of the estate.*Locate all family members who may be heirs to the estate. In some cases, this involves This may involve contacting people who may be outside of Canada. *File all necessary income tax returns and obtain an Income Tax Clearance from the federal tax departmentCanada Revenue Agency, confirming that all income tax has been paid.
*Put all money in an estate account and use it to pay the estate's debts, income taxes, legal and accounting expenses, and possibly an administration fee.
*Pay any money left over to the heirs.
*Finally, make a report Report to the beneficiaries , listing all money received, debts and expenses paid, fees charged, and details of how the estate was distributed.
==Estate planning and making a will is very important==
Making a will involves much more than just signing a document. It involves reviewing your potential estate and planning to minimize tax costs and the costs of probating to probate and administering administer your estate. As between Between spouses, and to some extent , children, there are many legal ways to avoid paying substantial probate costs, administration costs, Public Guardian and Trustee expenses, and income taxes. Obtaining legal advice can help you minimize these expenses.
==Where can you get help or find more More information?==*You may call the office of The Public Guardian and Trustee at 604.660.4444 in Vancouver. Also check their website at [http://www.trustee.bc.ca www/ The Public Guardian and Trustee] at 604.trustee.bc.ca]660. 4444 in Vancouver*For estate planning and to prepare making a will, consult a lawyerwho specializes in the area. *For more information on wills and estatesand personal planning, refer to Dial-A-Law check scripts [[Making a Will and Estate Planning (Script 176)|176]], [[Your Duties As Executor (Script 178)|178]], [[The Disappointed Beneficiary Power of Attorney and Representation Agreements (Script 179180)|179180]], and [[Power of Attorney and Representation Agreements Committeeship (Script 180426)|180426]].
[updated March 2015April 2017]
'''The above was last reviewed for accuracy by Susan Hart, Jack Montpellier Hugh McLellan and Anna Kurtedited by John Blois.'''
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