Estate planning helps protect your family, your assets, and your wishes if you become incapacitated or after your death. A proper estate plan can help avoid unnecessary disputes, simplify estate administration, protect vulnerable beneficiaries, and provide peace of mind.
AuBuchon Law assists individuals, families, business owners, and retirees throughout British Columbia with estate planning strategies tailored to their circumstances and goals.
Whether you need a simple will or a comprehensive estate plan, we can help.
A properly drafted will ensures that your assets are distributed according to your wishes and that the people important to you are provided for.
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Without a valid will, your estate will be distributed according to the Wills, Estates and Succession Act, which may not reflect your wishes.
An enduring power of attorney allows you to appoint someone you trust to manage financial and legal matters if you become incapable of doing so yourself.
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A properly drafted power of attorney can help avoid costly and time-consuming court proceedings if incapacity occurs.
A representation agreement allows you to appoint a trusted person to make healthcare and personal care decisions if you are unable to do so.
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These documents help ensure that your wishes are respected and that important decisions can be made without unnecessary uncertainty.
Business owners often require planning beyond a basic will.
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An effective plan can help minimize disruption to your business and your family.
We believe estate planning should be understandable, practical, and focused on protecting what matters most to you.
Appointing an executor in your will makes your executor’s job easier. It also tells other people that your executor is the correct person to administer your estate.
Most adults should have a will. Without one, provincial legislation determines how your estate is distributed.
You should review your estate plan following significant life events such as marriage, separation, divorce, the birth of children or grandchildren, major changes in assets, or changes in your intended beneficiaries.
In many cases, yes. A power of attorney addresses financial and legal matters, while a representation agreement addresses healthcare and personal care decisions.
Yes. Trusts can be used to protect minor beneficiaries, vulnerable beneficiaries, or to achieve specific family planning objectives.
A specific bequest is something the testator (the person making the will) has identified as a particular item or a specific amount of money to be given to a named individual. For example, a specific bequest could be something like “I bequeath my vintage car to my friend, John Smith,” or “I bequeath $10,000 to my nephew.”
Specific bequests clarify the testator’s intentions and ensure that the testator’s wishes regarding specific assets are carried out.
The residue of an estate, often referred to as the residual estate or residuary estate, is what remains of a person’s assets and property after all debts, taxes, expenses, and specific bequests have been settled and distributed according to the terms of a will or applicable laws of intestacy. In other words, the residue is what’s left over.
When someone creates a will, they may specify certain gifts or bequests to particular individuals or organizations. These are considered specific bequests. After those specific bequests are satisfied, the remaining estate is known as the residue. The residue is typically distributed among the residual beneficiaries, who are individuals or entities named to receive a share of the remaining estate.
A spousal trust in a will provides a benefit to a surviving spouse after the testator’s death (the person making the will). This type of trust is often used in estate planning to provide for the financial well-being and security of the surviving spouse while also addressing issues such as tax planning and asset protection.
Spousal trusts can be effective in blended families to allow a step-parent of your children to have the use of estate assets for their lifetime or a specified period without those assets transferring to your spouse’s estate when they die.
A disability trust is designed to provide financial support to cover the specific needs of the individual with a disability. This may include medical care, education, rehabilitation, housing, and other necessary expenses.
One of the primary purposes of a disability trust is to preserve the beneficiary’s eligibility for government assistance programs. Direct gifts or bequests to the individual might affect their eligibility for these programs, but a properly structured trust can avoid this issue.
A disability trust gives the trustee complete discretion over when and how to make distributions to the beneficiary with a disability. The discretionary nature of the trust helps ensure that the trust assets do not interfere with the beneficiary’s eligibility for government assistance programs.
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