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The Five Costliest Mistakes in Estate Planning By Tara R. Britnell.

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Presentation on theme: "The Five Costliest Mistakes in Estate Planning By Tara R. Britnell."— Presentation transcript:

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2 The Five Costliest Mistakes in Estate Planning By Tara R. Britnell

3 Five Problem Areas Wills Variation Act Joint Title Undue Influence Fraudulent Conveyance Act Incapacity

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5 Wills Variation Act How to avoid it 1.No assets on death Joint Title Gifts before death Trusts 2.Explain the Will In writing Valid and rational reason

6 Joint Title Leading cause of estate litigation Why is it a good idea? The Problem: Resulting Trust The property goes back to the Estate Demonstrating Intention Transferors intention is key

7 Joint Title How to protect against resulting trust: Deed of Gift Independent legal advice Good notes Payment

8 Undue Influence Invalidates the transaction Coercion Protect against it BC Law Institute Guidelines

9 Fraudulent Conveyance Act Transferring property to defeat creditors Wills Variation Act creditors Family Relations Act creditors Best defence strategies Good notes Inform spouse

10 Incapacity Invalidates transactions How to spot it Preventative measures Meet with client alone Medical opinion Independent legal advice

11 Tara Britnell trb@hdas.comtrb@hdas.com Hamilton Duncan Armstrong & Stewart 1450 – 13401 108 th Avenue, Surrey, BC (604) 581-4677 www.HDAS.com


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