Heritage Law

Do you have an up-to-date will? Do you know that less than half of Canadians have a will?

Join the West Vancouver Foundation and West Vancouver Memorial Library for their free session on Wills and Estate planning, presented by Nicole Garton of Heritage Law on January 24th.

This free session will address the importance of Wills and Estate Planning, answer many of the common questions that face individuals and families, and provide information to help you better navigate the process.

Space is limited so register early. www.westvanfoundation.ca/will-power

November is Make a Will Month in Canada, a month dedicated to raising awareness of the importance of having a Will in place. A Will allows an adult to specify the executor of their estate and who shall receive their property after their death. Section 36(1) of the BC Wills, Estates and Succession Act provides that “[a] person who is 16 years of age or older and who is mentally capable of doing so may make a will.”

All adults should have a basic estate plan in place, including a Will. While all adults should have one, here are some common reasons why people make a Will:

1. You recently got married or remarried;
2. You are in a common-law marriage;
3. You recently went through a separation or divorce;
4. You have assets such as property, investments or a business;
5. You have a child(ren) and/or other dependants;
6. You own valuable heirlooms such as art or jewelry;
7. There may be tension among surviving family members upon your death; and
8. There is an important cause that you wish to donate to.

Even if you have a Will in place, Make A Will Month is the perfect time to review your Will to ensure it's correct and up to date.

Our team at Heritage Law would be happy to assist you with your Will. You can schedule a consult here: https://bit.ly/40qbKQn or by calling our general line at 778-786-0615.

The Estate & Elder Mediation Guide for BC https://estate-mediation.ca - a resource for mediators, lawyers and families.

Dear British Columbia Wills and Estates Colleagues,

We are excited to invite you to a new community portal: https://bit.ly/3WvV1cq

WEC is intended to be a digital community gathering space of BC wills and estates professionals, established to promote estate planning and administration in BC by:
- encouraging dialogue;
- facilitating the exchange of knowledge and practice points;
- building professional relationships; and
- sharing practice resources.

The hope is that we can participate in what will be a rich, evolving and growing practice resource we all can share.

The first step is to sign up here: https://bit.ly/42Y7Xdu

I have been consulted to mediate the distribution of personal effects in a large home for three estate beneficiaries. What are the main methods of distribution of estate personal effects?

1. Family Distribution

Many families choose to distribute property privately within the family. When this is done, distribution may take place item by item, or items may be placed in groups of approximately equal monetary value and then selected as a group. Some methods which have been used by families to determine the order of selection are:

- Shake dice: Family members shake dice with the high roller receiving first choice, and so on. After the first round the selection order is reversed. After two rounds, family members shake again to determine a new order.
- Draw numbers, straws, or playing cards.
- Birth order preference: Selection goes from the oldest to youngest, or vice versa.
- Gender preference: Selection begins with males before females, or vice versa. Birth order may also be integrated into this method.
- Generation preference: Priority is given to parents, siblings, children, grandchildren, or blood kin.

2. Private Auctions

Family members buy items in open bidding. Families who choose this method may use real money or “funny money" such as marbles, poker chips or play money. If real money is used, the money generated will usually form part of the residue of the estate and may be subject to probate fees or income taxes. If funny money is used, each qualified bidder receives an equal number of units for bidding.

3. Silent Auctions/ Sealed Bids with Family

Family members place written bids on items and the highest bidder receives the item. Money goes to the estate and may be subject to taxes.

4. Public Auctions

Family members and the public bid for items. Proceeds from the auction will go to the estate. Proceeds may be subject to taxes.

5. Garage/Yard Sales

A public sale of this type works well to distribute items of little emotional or financial value. Proceeds go to the estate and may be subject to taxes.

6. Estate Sales

Property is sold by a liquidator and the money goes to the estate. Proceeds may be subject to taxes.

The term “disability” refers not to a single state but rather to a wide spectrum of conditions. These include physical limitations, such as mobility, visual and hearing impairment. Various invisible disabilities, including cognitive limitations and mood disorders, are less readily identifiable but can be equally difficult.

Many individuals are born with a disability while others acquire a disability at some point in their lifetime due to an illness, accident or injury at work, play or home. Still others face functional limitations involving hearing, sight, cognitive and mobility impairment as a result of aging.

There are more than 926,100 British Columbians over the age of 15 with some form of disability. This represents 24.7% of the population. As the population ages, the number of people with disabilities and the severity of their disabilities are likely to increase.

Many family members fear for the future financial well-being of their disabled relative. In addition to federal and provincial disability benefits which may be available, there here are various advance planning options available to provide financially for a disabled beneficiary, such as:

1. Direct ownership of an asset;
2. RDSPs;
3. Trusts;
4. RRSP Rollovers;
5. Other vehicles with designated beneficiaries; and
6. a combination of the above, depending on the particular cirumstances of the family, the disabled family member and nature of the disability.

BC lawyers can learn more, including a comprehensive listing of current available benefits and a package of editable precedents, by registering for the upcoming conference here: https://www.cbabc.org/Wills-and-Estates/Home

CBA British Columbia - Home This one-day conference in Richmond on June 3 brings engaging conversations on undue influence, elder mediation, the new disclosure era and more.

Join us at the upcoming CBABC Wills and Estates Conference! You can register here: https://www.cbabc.org/Wills-and-Estates/Program.

The Five Step Mediation Preparation Model - Free Download!

A critical task in advance of any mediation is to prepare yourself to negotiate in the face of uncertainty. Download our preparation guide with worksheets in advance of your mediation here: https://bit.ly/3YZzIRd

Mediation Consultation | Heritage Law

Received my Canadian Bar Association, BC Branch 25 Year Milestone pin today - half my life! I'm proud to be a CBA member and to serve on Provincial Council, protecting the rule of law, the independence of the judiciary and the Bar and improving laws, the justice system & A2J.

To the mystery secret santa who dropped off this phenomenal wine to our office, thank you and we love you too! 🍷

We are proud to support the West Vancouver Foundation!

Did you know that many Canadians do not have an up-to-date will?

Whether you are 40, 60 or 80 one of the most vital areas of personal planning is thinking about how to take care of your family or those special to you after you are gone.

June 14th, West Vancouver Foundation is holding a free Will Power seminar, presented by lawyer Nicole Garton (Heritage Law).

REGISTER NOW. Space is limited. https://bit.ly/3a3qbn7

Date: June 14, Tuesday, 2-3:30pm

Where:

More information: westvanfoundation.ca/events/

Meet new office mascot King! 🐶

The Current State of the Law of Family Property in BC: When Will a Judge Order Unequal Division? https://bit.ly/33dsFMk

STEP Vancouver members, don't forget to join us today for the branch bundle seminar https://bit.ly/3pmDOSr 2:30 PM – 4:30 PM PT: So Your Client Has Died, Now What?

Moderator: Farzin Remtulla, CPA, CA, CFP, TEP, Vancouver: ZLC Financial

What practical advice should be given to the executors/trustees to manage the various legal and tax issues and deadlines that need to be addressed?

Speakers:
Nicole Garton, BA, LLB, LLM, FEA, TEP, West Vancouver: Heritage Trust
Ryan Gill, CPA, CA, CPA (NH), Vancouver: KPMG LLP
Emma McArthur, BA, LLB, TEP, Victoria: Johns Southward LLP

We will focus on the particular issues and challenges that arise with respect to personal effects. I will be expanding on this post: https://bit.ly/3p7WSoT

Seminar Schedule - STEP Vancouver 2021-22 Branch Bundle STEP Vancouver, Branch Bundle

I am looking forward to presenting a webinar on behalf of the West Vancouver Foundation tomorrow on many of the common questions that face individuals and families regarding Wills and Estate planning. The webinar is designed to provide information to help you navigate the process and empower you to proceed with clarity and confidence. Having a valid, up-to-date Will, Health Care Directive, and Power of Attorney ensures that your wishes will be met after your death. It also provides a great opportunity to consider a legacy gift to a charity or cause important to your family.

Moderated by Elaine McHarg, VP Philanthropy & Partnerships, West Vancouver Foundation.

This year the WVF is working in concert with other charities and the Canadian Association of Gift Planners on a national campaign which includes information about the impact of Legacy giving more information can be found at https://bit.ly/3DovEil

https://bit.ly/3wTwVey

Events - WestVanFoundation Date: November 17, 1:00-2:00 pm

Excited to discuss estate planning on behalf of the West Vancouver Foundation!