Dying without a will question

[BrokeBastard]

I'm 40 years old and don't have a will drawn up. Hypothetically let's say I have a mother, one brother, and another half-brother and half-sister as close living blood relatives. I haven't talked to my half-siblings for over a decade as we had an arguement and are distant.

To make it simple all let's say all I have in assets are 100K in straight cash and another 100K in RRSPs. If I suddenly died does everything get split 4 ways? Or does it get divided between my mother and brother? Do half-siblings get treated equally and receive my a part of my assets?

Thanks in advance for the answer.

 

[badbadboy]

Read up on dying intestate.

http://www.lawyers-bc.com/probate/articles/nowill.htm

 

[Stella_Hardon]

I'm 40 years old and don't have a will drawn up. Hypothetically let's say I have a mother, one brother, and another half-brother and half-sister as close living blood relatives. I haven't talked to my half-siblings for over a decade as we had an arguement and are distant.

To make it simple all let's say all I have in assets are 100K in straight cash and another 100K in RRSPs. If I suddenly died does everything get split 4 ways? Or does it get divided between my mother and brother? Do half-siblings get treated equally and receive my a part of my assets?

Thanks in advance for the answer.

Some ideas from a fellow Perbert who is NOT an lawyer ...

1. Find a law firm and get professional advice. Your situation is simple and the cost will be minimal.

2. Don't use a self help kit. Odds are you will miss something.

eg. If you want to exclude your distant half siblings you should bequeath them 10 dollars each.
If you don't mention them and put a specific dollar toward them they can contest the will
and suggest that you intended to include them but it was an oversight



I did a google : "rules for intestate inheritance British Columbia" some good information there ....

Talking to the lawyer will also help you in getting your stuff organized and other items such who is your executor and funeral arrangements

While you are at it you should also ensure you have a shovel buddy
" A close friend who, in the event of your death will remove any and all embarassing personal items from your home
you do not wish family to see. ie Pornography, sex toys or drug paraphernila. "

 

[nd1]

I'm 40 years old and don't have a will drawn up. Hypothetically let's say I have a mother, one brother, and another half-brother and half-sister as close living blood relatives. I haven't talked to my half-siblings for over a decade as we had an arguement and are distant.

To make it simple all let's say all I have in assets are 100K in straight cash and another 100K in RRSPs. If I suddenly died does everything get split 4 ways? Or does it get divided between my mother and brother? Do half-siblings get treated equally and receive my a part of my assets?

Half-siblings are treated equally as full-blooded siblings. Nevertheless, unless your mother passes away first, none of them will get a share of the property you leaves behind.

If you are married and/or have children, then even your mother will not get anything. Furthermore, you can name specific beneficiaries for your RRSP account, effectively segregating it from the intestate distribution.

 

[AngelaAurora]

For the love of god, make sure you sign your will. My late father didn't, and there is still bs to deal with the feds

 

[sweett]

I agree, if you want to know the facts, see a lawyer.

But if you want a basic coverage, do it yoursellf, you can pick up a Will and a Living Will Kit at Chapters for $9 and it does not have to be notorized. If you die without a will the government "probate" takes up to (I think its) 30% of your assets. Dont quote me, but I've had friends go through a sibling dying and they were surprised at how much our GOV took because the assets were not in a will. Your registerd assets (like TFSA / RSP) can be left to a beneficiary without a will.

I just did a basic will...figured why not - I dont need lawyers fees at this early stage of my life (without sizable assests or a spouce to consider) but I want things to be clear to my family who gets what, and there is no bad feelings or misunderstandings between those left behind.

 

[sweett]

ps - if you do have money in cash why not put it into a TFSA (tax free savings account). You can put in $15 k as of now, and $5 k each year going forward, the benefit of course being when you draw from it, you wont pay taxes (unlike your RSP) - but you can put the money in investments that draw a higher ROR (rate of return) than current bank rates.

Of course, ask your bank or investment advisor first, and make sure they are very clear on the fees (annual, back end, withdrawal, even closing fees can be quite steep) so you dont lose out on your profits...

 

[nd1]

ps - if you do have money in cash why not put it into a TFSA (tax free savings account).

Good point!

And in BC, you can name specific beneficiaries for your TFSA account too.

 

[storm rider]

Be a total bastard and have the assets of your estate converted into gold bullion.....have that gold bullion poured into your casket and then have your casket buried at sea.....the Laurentian Abyssal is you best bet......if you cant spend it on pussy then take it with you.

SR

 

[Flanders]

Be a total bastard and have the assets of your estate converted into gold bullion.....have that gold bullion poured into your casket and then have your casket buried at sea.....the Laurentian Abyssal is you best bet......if you cant spend it on pussy then take it with you.

SR

I volunteer to be your shovel buddy, SR. I will ensure that ALL your bullion makes into the casket, and that you have a suitibly lavish ceremony.

 

[Monet]

i assume it goes to your mother, the first direct relative.
but maybe there is law out there to deal with this kind of situation.

If I suddenly died does everything get split 4 ways? Or does it get divided between my mother and brother? Do half-siblings get treated equally and receive my a part of my assets?

Thanks in advance for the answer.

 

[storm rider]

I volunteer to be your shovel buddy, SR. I will ensure that ALL your bullion makes into the casket, and that you have a suitibly lavish ceremony.

Thanks buddy.....if the situation happens.....if I snuff it....then do your duty and take a bit off the top to get yourself a duo with Lian & Ayumi at Sugarland......and think of me whilst you are nailing those hot asian gals :thumb:

SR