Wills and estates: Three primary costs in estate planning

On Behalf of Porter Ramsay LLP | Jul, 30, 2018 | Wills And Estates

There are things people can do to reduce costs when planning their estates. British Columbia residents taking the time and effort to fashion their wills and estates want to leave as much as possible to their loved ones after they’ve passed away. But by planning in advance, more of the assets of the estate are sure to go to beneficiaries. Probate is the process by which the executor actually proves that he or she is the one authorized to act for the estate, and that can be an expensive prospect. The will is reviewed to make sure it is legally binding.... View Article

Family law: Separating fact from fiction in the divorce process

On Behalf of Porter Ramsay LLP | Jul, 17, 2018 | Family Law

Making the decision that a marriage isn’t working is no easy feat. Thankfully, there are resources under the family law umbrella that give individuals the tools to help with the process. Still, some people have many misconceptions about what divorce in British Columbia entails. The primary myth concerns a cheating spouse. Just because a partner is unfaithful doesn’t mean the courts will side with the other partner. Canada has a no fault divorce system, and as such, the courts aren’t concerned with why the marriage eroded. It’s also not true that a partner has to be on board with the... View Article

Family law: Sharing may not always be wise during a divorce

On Behalf of Porter Ramsay LLP | Jul, 03, 2018 | Family Law

Sharing in divorce doesn’t always end up well. A British Columbia man who  agreed to split his Canada Pension Plan credits 50-50 with the wife he was divorcing after 30 years of marriag has realized this. Marriage and divorce laws are provincially mandated and even though credit splitting with former spouses in British Columbia is not mandatory as it is is most provinces, this couple decided to share their accumulated CPP credits anyway. In this case, the man worked for more years and contributed more money to the plan than did his former wife. What he didn’t know, however, is that... View Article