April 6 through April 12, 2015 has been proclaimed as Make-A-Will Week by the BC Government.
The importance of estate planning and making a Will is recognized by the BC government as it is a critical component of everyone’s life. The significance of estate planning cannot be understated as Trust & Estate lawyer, Sukhminder Virk explains:
“The biggest mistake that people make when it comes to Will preparation or estate planning is to assume that they do not need to plan. There is a misconception that estate planning is only for the well-off, or that you need to have a complex estate to require one. Nothing could be further from the truth. In particular, anyone with children or even a modest estate should have at least a Will.”
Estate planning or Will preparation can be a difficult conversation to have for most families, but it is a critical one. Similar to families having insurance policies, Tax Free Savings Accounts and Registered Retirement Savings Plans in place, a Will should be a key component of everyone’s personal and estate planning.
By not having a Will, people leave their legal and financial legacies in limbo. This often results in a very difficult situation for families after their loved ones are gone. As Sukhminder Virk explains, “we see on a routine basis the affect little or no planning can have not just on finances, but on family relationships”. Virk continues, “by having done proper planning, individuals can avoid leaving their families in financial and, more importantly, emotional turmoil.”
Lindsay Kenney LLP is a full-service law firm with offices in Langley and Vancouver. Our Trust and Estate Law group has deep experience to assist with these critical life arrangements regardless of age or net worth. We can provide clients with personalized strategies to achieve their wealth transfer and estate planning objectives.
To contact one of Lindsay Kenney’s Trust and Estate lawyers, call 604 687 1323 .
For further information, consult the BC Government website – http://www.ag.gov.bc.ca/make-a-will/
Contact any of the following lawyers in our Vancouver and Langley offices for assistance with your estate planning needs.
Lawyers in Vancouver Lindsay Kenney LLP Office
Lawyers in Langley Lindsay Kenney LLP Office
This article is intended to be an overview of the law and is for informational purposes only. Readers are cautioned that this article does not constitute legal or professional advice and should not be relied on as such. Rather, readers should obtain specific legal advice in relation to the issues they are facing.