Making a will is a complicated process. Those DIY will kits you can find online will not cut it. Since we all have different situations, different needs and different preferences, it is imperative that you create a will based on your own unique situation.
When you make a will with the help of lawyers in North Vancouver, you avoid doing the following common will-making mistakes:
1. Forgetting to include important assets and properties.
Making an inventory or accounting of all your assets and properties is important. You need to cover all bases when it comes to making a will, so you can prevent the will from getting into probate as much as possible.
2. Changing some parts of the will without learning more about its repercussions.
If you add concessions or clauses but this contradicts the other parts of the will, that can cause confusion later during the execution of the will. A lawyer can help you in adding clauses to the will without affecting it as a whole.
3. Not taking tax implications into consideration.
Not preparing for tax implications could be disastrous. If you want to maximize how much money your surviving family members will get, you need to plan how to minimize taxes. That can include putting some assets through trust or giving some away as gifts.
Lawyers in North Vancouver such as Lakes, Whyte LLP will also make sure that you will be able to follow estate law properly, find the right beneficiaries and include all properties in order to prevent your will from going into probate.
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