It is essential to conduct due diligence when buying a business to ensure you are aware of any potential liabilities, legal issues, or other considerations related to the specific business you are acquiring. Consulting with your lawyer and your accountant is highly recommended to make an informed decision based on your unique circumstances. Before buying […]
The choice of a legal structure for buying a business depends on various factors, including your business goals, tax considerations, liability concerns, and the nature of the business you’re acquiring. Here are some common legal structures you might consider: 1) Sole Proprietorship: If you plan to operate a business by yourself and want a simple […]
There are multiple possible outcomes and effects that may come from a parent making false accusations/allegations against the other parent, and none are positive for the accusing parent. These outcomes may range from increased costs against the accusing parent to having the Ministry for Child and Family Development become involved with the family, and the […]
Whereas some issues with a Will can be rectified, others will result in the Will being held as invalid. Issues concerning undue influence or lack of capacity can have the effect of invalidating a Will. A Will may also be invalid if it does not comply with s.37 of the British Columbia Wills Estates and […]
Executors should initiate conversations promptly after the passing of the deceased, providing clear information about the probate process, including steps, timelines, potential delays, and the roles involved. Written communication, such as formal letters or emails, not only ensures that details are documented but also provides beneficiaries with a reference point. An executor is obligated to […]
The documents required for a typical application for probate are: 1. A submission for an estate grant; 2. An affidavit of the applicant for grant of probate from the applicant; 3. If there are two or more applicants, an affidavit in support of an application for an estate grant from each applicant; 4. Two copies […]
As an executor, there are many potential legal disputes or claims that may arise. One common challenge lies in disputes concerning the validity of the Will, where allegations of undue influence or lack of mental capacity can lead to litigation. Other issues with the Will can include problems with formalities, as well as unclear provisions […]
Probate is the proof of the deceased’s Will. In granting probate, the BC Supreme Court will certify that a document proffered as the deceased’s last Will is what it is purported to be. A grant of probate will become necessary if the validity of the Will is called into question. If a grant of probate […]
One of the duties of the executor is to pay any debts and liabilities of the estate, which includes paying taxes. As executor, you have a duty to pay all legitimate debts of the estate before making a distribution to beneficiaries. According to section 142(2) of the British Columbia Wills Estates and Succession Act (“WESA”) […]
The executor must follow the instructions in the Will and distribute the assets accordingly. The British Columbia Wills, Estates and Succession Act imposes a 210-day waiting period during which an executor must not distribute the estate without the beneficiaries’ consent or a court order. This waiting period is to allow beneficiaries who may have a […]