In part one, we discussed how British Columbia’s intestacy rules determine inheritance when someone dies without a will. However, asset distribution is only one concern. Without a will, estate administration becomes more complex, may impact minor children, and can leave important tasks and business matters unresolved.
If you live in New Westminster, Surrey, Port Coquitlam, or Port Moody, a wills and estates lawyer can help you make these decisions in advance, rather than leaving them to your family or the court.
5 More Consequences of Dying Without a Will In BC
#1 Estate Administration May Take More Time and Cost More
The administrator of your estate may not be your preferred choice. While anyone can apply, preference is given to next of kin such as a spouse, children, or parents. If no one applies, the Official Administrator for British Columbia will take over, which can increase costs and delay your family’s inheritance.
#2The Administrator May Have to Provide Security
The administrator may need to post a bond to protect estate assets. This is not always required, but may be necessary if a minor or incapable person has an interest in the estate or if ordered by the court.
#3 A Minor’s Inheritance May Be Managed Until Age 19
If no trustee is named for a minor, the personal representative must transfer the minor’s inheritance to the public guardian and trustee, unless the court appoints someone else. This reduces the family’s control over the inheritance.
#4 The Opportunity to Address Guardianship
If a will does not appoint a guardian, guardianship decisions will fall to surviving guardians and the legal system.
#5 Tax, Business and Estate-Planning Opportunities
Working with an estate lawyer can help you address:
- Tax efficiency.
- Privately owned businesses and shares.
- Properties.
- Trusts for younger beneficiaries.
- Gifts to specific people and organizations.
- Trusts for younger or vulnerable beneficiaries.
Preparing a will does not eliminate taxes or probate fees, but it supports a broader plan that may include legal, accounting, and financial strategies.
How Is an Administrator Chosen Without a Will?
As discussed in part one, an estate administrator is appointed through a formal process. It is not as simple as someone volunteering to take control.
The Wills, Estates, and Succession Act (WESA) establishes an order of priority. This order starts with the deceased’s spouse. Children and other intestate successors may apply under specific circumstances set out in the legislation. The court can appoint another appropriate person if necessary. For more information, see section 130 of WESA.
How a Wills and Estates Lawyer Can Help You Plan Before You Die
A wills and estates lawyer can help you select an executor and alternates, identify beneficiaries, and plan for minor or vulnerable individuals. They also assist with guardianship appointments, coordinate complex business and personal estate planning, and document gifts of sentimental value.
A lawyer can also review how jointly owned property and beneficiary designations fit into your overall plan, update your will after major life changes, and ensure your estate representatives have clear instructions for dividing your property.
If you need to prepare or update your will, contact Cassady Law. A wills and estates lawyer serving New Westminster, Surrey, and nearby areas can help you understand your options and create a plan that reflects your family, assets, and priorities.