Estate Planning

Personalized Planning and Support

Planning for the future is essential to ensure that your wishes are honoured and your loved ones are protected. At Taylor & Taylor Law Corporation, we understand the importance of creating a comprehensive estate plan tailored to your unique needs. Our team is here to guide you through every step, providing clarity and peace of mind.

Estate Planning Options

In British Columbia, there are several personal planning options to ensure your wishes are known and respected in case of death or incapacity. Your personalized estate plan might include one or more documents such as a will, power of attorney, representation agreement, nomination of committee, or advance directive. In some cases a trust might be beneficial.

Understanding Trusts

Trusts are especially useful for estate planning, particularly when dealing with blended families or disabled beneficiaries. Trusts can create specific funds for individuals or charities, during your life or after your death and can modify the distribution of assets outside of your will. Certain trusts, like alter ego trusts, can reduce probate fees and manage assets outside the estate process.

A lawyer can help you determine whether a trust would be beneficial to your estate plan.

Steps in the Estate Planning Process

  1. Initial Consultation: Discuss your needs, goals, and concerns with your lawyer.
  2. Drafting Documents: Your lawyer will prepare the necessary estate planning documents tailored to your specific situation.
  3. Review and Finalize: Review the documents with your lawyer, make any necessary revisions, and finalize them.
  4. Implementation: Ensure all documents are properly signed, witnessed, and stored in a safe place.
  5. Periodic Review: Regularly review and update your estate plan to reflect any changes in your circumstances or wishes.

Common Questions and Answers

  • What is the difference between a will and a trust? A will is a legal document that outlines your wishes for the distribution of your assets after your death. A trust, on the other hand, is a relationship where one party holds property for the benefit of another.
  • When should I update my estate plan? It’s recommended to review and update your estate plan periodically, especially after major life events such as marriage, divorce, the birth of a child, or significant changes in financial circumstances.
  • How do I choose an executor or trustee? Choose someone you trust to carry out your wishes and manage your estate responsibly. It’s often helpful to discuss your choice with an estate planning lawyer.

Legal Guidance

Estate planning involves complex legal considerations. Our experienced lawyers are here to guide you through the process, ensuring that your plan is comprehensive, legally sound, and tailored to your unique needs. We provide personalized advice and support to help you make informed decisions about your estate.

Have More Questions?

We’re here to help. Our estate planning lawyers are ready to assist you in creating a plan that meets your needs. Contact us today to schedule a consultation and take the next step.

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