Basics of Wills and Estate Planning 2017

Course Date: May 18, 2017

Total: 10h 55min

Day 1: Thursday, May 18th, 2017

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
  • First Nations wills

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
  • assessing capacity and undue influence
  • post-interview steps

Kate S. Marples — Legacy Tax +Trust Lawyers, Vancouver

Essential Tax Considerations for Will and Estate Planners

  • fundamental tax concepts
    •  taxation of capital gains
  • lifetime transfers and gifts
  • tax consequences on death
  • registered plans (RRSPs, RRIFs, TFSAs)
  • taxation of trusts
  • planning strategies to minimize tax

Areet  S. Kaila — Clark Wilson LLP, Vancouver

Networking Lunch (Provided)

The Will

  • property disposable by a will
  • preparing your standard will
  • drafting considerations
  • common drafting errors
  • technical requirements for formal execution
  • other planning tips and traps

    Laura West
     — Norton Rose Fulbright Canada LLP, Vancouver

Networking Break

Lessons from the Future

  • preparing your standard probate application
  • probate fees
  • time factors
  • asset list
  • executor’s duties vs lawyer’s duties
    James D. Baird — Boughton Law Corporation, Vancouver
    Kirsten E. H. Wharton — Westcoast Wills & Estates, North Vancouver

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
  • precedent development

Candace Cho — Onyx Law Group, Vancouver
Emily Clough — Alexander Holburn Beaudin + Lang LLP, Vancouver

Day 2: Friday, May 19th, 2017

Opening Remarks

James D. Baird — Boughton Law Corporation, Vancouver

Role Play: The Interview Gone Right

Avoiding Claims: Common Pitfalls and Tips to Avoid Them

  • management of clients and others
  • performance of work
  • retention of lawyer's file
  • ethical and practice issues

Roger D. Lee — DLA Piper (Canada) LLP, Vancouver
Megan Swail — Lawyers Insurance Fund, Law Society of BC, Vancouver 

Networking Break

The Use of Joint Tenancies and Beneficiary Designations in Estate Planning

A. Joint Tenancies

  • planning opportunities
  • possible problem and pitfalls
  • “true” joint tenancies vs “false” joint tenancies
  • review of recent cases

    Emily Clough — Alexander Holburn Beaudin + Lang LLP, Vancouver

B. Beneficiary Designations

  • insurance (life insurance, trusts)
  • RESPs
  • TFSAs

Kirsten Jenkins — Norton Rose Fulbright Canada LLP, 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 
  • POA, representation agreement, advanced directive, living will
    Geoffrey W. White — Geoffrey W. White Law Corporation, Counsel, Clark Wilson LLP, Kelowna & Vancouver 

Networking Lunch (Provided)

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
  • bare trusts
  • trusts for minors and disabled beneficiaries
  • principal residence trusts

Fiona Hunter — Horne Coupar, Victoria

Wills Variation Considerations

A. Recent Wills Variation Cases

  • what constitutes “adequate provision”
  • reasons for disinheritance
  • competing claims by adult children
  • competing claims between spouse and children
  • blended family claims
  • role of executor
  • costs

B. Wills Variation and the Family Law Act

  • spousal qualification
  • the assessment of the legal obligation under the Family Law Act
  • family property and excluded property

Networking Break

C. Wills Variation and Other Estate Claims

  • wills variation and proof of will proceeding
  • wills variation and resulting trust claims
  • procedure for bringing all claims at the same time

D. Impact of Wills Variation on Estate Planning

  • effective use of a will in contentious circumstances
  • memorandum of reasons
  • ethical issues relating to planning to avoid variation claims

    Anna Chen — Fasken Martineau DuMoulin LLP, Vancouver
    Helen H. Low, QC — Fasken Martineau DuMoulin LLP, Vancouver

Closing Questions and Comments