Understanding the Significance of a Will in British Columbia
Table of Contents
Key Takeaways
- More British Columbians are getting Wills ready to ensure their loved ones and supported causes benefit from their estates.
- A Will is a legally binding document that details how a person’s assets and possessions will be distributed after their death.
- The creator of the Will must be at least 16 years old and of sound mind while signing their Will.
- British Columbia does not require authentication or an affidavit of execution to recognize a Will as legitimate.
- A Will takes effect post-mortem, while a Power of Attorney authorizes an individual to make decisions for a living person
What is a Will?
Your Last Will and Testament constitutes a legally binding document that articulates your desires in the event of your passing. In this document, you’ll create a strategy for how your estate encompasses all your possessions, including property, financial assets, and personal belongings. In this process, you’ll also appoint an “executor” who will be in charge of ensuring that your wishes for your estate are followed.
What Makes A Will Legal In British Columbia?
Creating a legally recognized Will in British Columbia doesn’t necessarily mean you’ll need to visit your lawyer. However, certain prerequisites must be met to ensure that your Will is legally enforceable. The following are the general criteria for a valid Will in British Columbia:
- Mental Capacity and Age: You must possess sound mental faculties and be at least 16 years of age in BC. Wills crafted by individuals below the age of 16 will not be deemed valid.
- Testator: The Will must be authored by you, the testator or Will-maker.
- Witnessing: You must sign your Will in the presence of two eligible witnesses, either in the same physical location or via video conferencing. Your witnesses are also required to affix their signatures to the final page of your Will subsequent to your signing.
- Form of Documentation: Your Will can either be signed in traditional ink and preserved as a physical copy or maintained digitally with electronic signatures.
It’s worth noting that prior to December 1, 2021, the sole recognized form of a valid Will in BC involved printing on paper, signing with ink, and having witnesses physically present in the same room. However, the enactment of Bill 21 ushered in a new era, making British Columbia the first province to permit residents to electronically sign and store their Wills, with video witnessing, as an acceptable practice.
Is Witnessing Required for Wills in British Columbia?
Contrary to some provinces where authentication is a prerequisite for probate proceedings, British Columbia does not mandate this to recognize a Will.
In other words, there is no requirement for an Affidavit of Execution in British Columbia, which, in certain cases, necessitates authentication elsewhere in Canada.
The Difference Between a Will and a Power of Attorney in BC
It is crucial to differentiate between a Will and a Power of Attorney in British Columbia:
- Will: A Will outlines your wishes for after you pass away, and serves as a guide for the distribution of your assets and affairs.
- Power of Attorney: In British Columbia, there exist two variants of power of attorney documents—enduring power of attorney and representation agreements:
- Enduring Power of Attorney: Designates an individual to manage your property and financial matters, such as bill payments and asset sales.
- Representation Agreement: Empowers a representative to make future decisions regarding your personal care, encompassing healthcare, nutrition, and shelter.
The importance of having a well-drafted and legally valid Last Will and Testament in British Columbia couldn’t be clearer. Your Will not only ensures that your loved ones benefit from your estate but also streamlines administration of your estate. Understanding the legal requirements for a valid Will empowers you to take control of your legacy. Further, knowing the distinction between a Will and a Power of Attorney equips you with the tools to safeguard your assets and make informed decisions about your future. In British Columbia, taking proactive steps to address these matters ensures that your wishes are respected and your loved ones are provided for when the time comes.