Basics of Wills and Estate Planning 2015
Course Date: January 29, 2015
Total: 9h 17min
Course Date: January 29, 2015
Day 1: Thursday, January 29, 2015
Welcome and Introduction
James D. Baird — Boughton Law Corporation, Vancouver
Overview of Estate Planning
- what is an estate plan?
- what are the goals of estate planning?
- what are the components of a typical estate plan?
- foreign property
- taxation
- blended families
- business succession
- disposition on death chart
James D. Baird — Boughton Law Corporation, Vancouver
Role Play: The Interview Gone Wrong
Networking Break
The First Appointment
- the role of the lawyer
- preliminary information gathering
- the client interview
- difficult and/or challenging clients
- blended families—who are your instructions from
- post interview steps
- file management
Kate S. Marples — Legacy Tax + Trust Lawyers, Vancouver
Essential Tax Considerations for Will and Estate Planners
- fundamental tax concepts
- lifetime transfers and gifts
- tax consequences on death
- registered plans (RRSPs, RRIFs, TFSAs)
- the new testamentary trust rules
- planning strategies to minimize tax
Richard Weiland — Clark Wilson LLP, Vancouver
Networking Lunch
The Will
- property disposable by a will
- preparing your standard will
- drafting considerations
- common drafting errors
- technical requirements for formal execution
- appointment of executors
- other planning tips and traps
Laura West — Bull, Housser & Tupper LLP, Vancouver
Networking Break
The Basics of Probate and Estate Administration
A. Getting the Grant
- preparing your standard probate application
- special grants
- keeping the registry happy
- executor’s duties vs. lawyer’s duties
James D. Baird — Boughton Law Corporation, Vancouver
Kirsten E.H. Wharton — Brawn Karras & Sanderson, Surrey
B. How to Administer an Estate: From Collecting the Assets to Passing the Accounts
- advising the personal representative
- getting discharged
- getting the clearance certificate
James D. Baird — Boughton Law Corporation, Vancouver
Kirsten E.H. Wharton — Brawn Karras & Sanderson, Surrey
How to Develop a Wills and Estates Practice
- marketing and client development
- skills development
- pros and cons of focusing on a wills and estates practice
- differences in practice in a large firm vs. boutique firm vs. starting your own firm
- working with assistants and paralegals
Mike Beishuizen — Westcoast Wills and Estates, North Vancouver
Emily Clough — Alexander Holburn Beaudin + Lang LLP, Vancouver
Claire N. Wilson — Legacy Tax +Trust Lawyers, Vancouver
Day 2: Friday, January 30, 2015
Opening Remarks
James D. Baird — Boughton Law Corporation, Vancouver
Role Play: The Interview Gone Right
Solicitors' Negligence, Avoiding Claims, and Managing Client Expectations
- reporting to client
- possible problems and pitfalls
- common claims made to the Lawyers Insurance Fund
- the initial appointment/taking instructions
- the engagement letter
- drafting and executing the will
- reporting and follow up
- following a defensive practice
Joel M. Altman — Hammerberg Lawyers LLP, Vancouver
Roger D. Lee — Davis LLP, Vancouver
Networking Break
The Use of Joint Tenancies and Beneficiary Designations in Estate Planning
A. Joint Tenancies
- planning opportunities
- possible problems and pitfalls
- "true" joint tenancies vs. "false" tenancies
- fraudulent conveyances
Brendan Burns — Miller Thomson LLP, Vancouver
B. Beneficiary Designations
- insurance (life insurance, trusts)
- RRSPs/RRIFs
- RESPs
- TFSAs
Valorie Pawson — Pawson Law, West Vancouver
Lifetime Planning—Not Dead Yet!
- planning for incapacity with respect to financial affairs
- planning for incapacity with respect to health care
- dealing with incapacity where there is no plan
Maria T. Holman — Boughton Law Corporation, Vancouver
Lunch with Featured Speaker: "The Potential Impact of Mental Disorders on Testamentary Capacity"
Dr. Leslie J. Sheldon — Mount Saint Joseph Hospital, Vancouver
The Use of Trusts in Estate Planning
- how to choose the right trust: inter vivos or testamentary
- essential components of a trust
- the components of a well drafted trust
- alter ego and joint partner trusts
- trusts for minors and disabled beneficiaries
Fiona Hunter — Horne Coupar, Victoria
Wills Variation Considerations
A. Wills Variation Under WESA
- changes from the repealed Wills Variation Act
- time limits
- notice provisions
- certificates of pending litigation
- spousal qualification
- assessment of the legal obligation with the Family Law Act
- reasons for disinheritance
B. Review of the Trend of Recent Variation Cases
- extent of testamentary autonomy
- competing claims by adult children
- blended family (spouse versus children) claims
- role of executor
- in terrorem clauses
- costs in litigation
Networking Break
C. Estate Planning Considerations
- how to deal with disinheritance of a spouse or child in a will
- memorandum of reasons
- participation of spouse/child in estate planning estoppel
- using the will as a ‘backup” to other estate planning
- ethical issues related to planning to avoid variation claims
Annie H. Chen — Fasken Martineau DuMoulin LLP, Vancouver
Helen H. Low, QC — Fasken Martineau DuMoulin LLP, Vancouver
Questions, Comments, and Discussion
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Paper: Overview of Estate Planning
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Practice Management
» Client Relations
Professional Responsibility and Ethics
» Client Relations, Ethics
Tax
» Wills, estates and trusts tax issues
Wills Estates and Trusts
» Administration application, Client Relations, Devolution of assets, Estate planning, Probate application, Professional Responsibility, Tax issues
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