Making a Will in BC: "Best Of" Edition (Recorded Webinar)

Lawyer Michael Scott and notary Lilián Cazacu answer common questions on how to make or update a will in British Columbia. Current to October 2024. Show notes at https://www.peopleslawschool.ca/webinar/making-will-best-of-edition/ The role of a will in estate planning 4:10 The role that a will, power of attorney and representation agreement each play in your estate planning. 6:35 What a will typically covers and whether you must list every asset. 9:10 What happens to your possessions if you die without a will and whether you need to make a will if you don’t have much. Making your will 12:50 The difference between a notary and a lawyer and what to expect if you hire one of them to write your will. 16:30 How much it costs to have a notary or lawyer make a will for you. 21:00 Factors to consider when deciding whether to use a make-a-will kit. 25:55 The role of an executor and factors to consider when choosing one. 30:50 What happens if you don't have an executor and whether you should hire a professional executor. Special cases 35:20 What to do if you want to exclude one of your children from your will and how to strengthen your will to better withstand a wills variation challenge. 38:10 What to do if you own property outside of Canada. 40:20 Whether to make a will if you don’t have long to live. Final steps in making a will 41:30 Whether you need to have your will notarized and registered. 43:55 What to do with your will after it’s been signed. 45:15 How often you should update your will. Live questions 47:20 The legal effect of a codicil as compared to a letter stating the wishes of the testator. 49:20 Whether a will is required where spouses have joint accounts and no other assets. 53:35 The difference between making a will and setting up a trust, besides the implications for the probate fee.