Most BC residents put off estate planning until something goes wrong. Here's a clear, practical checklist of what to have in place — and why each item matters more than you might think.
Estate planning is not about dying. It is about making sure that if something happens to you — illness, accident, incapacity, death — the people and things you care about are protected. In BC, a complete estate plan typically involves five core documents and a series of decisions that are much easier to make before a crisis than during one.
The Five Core Documents
1. A Valid Will
Your will determines who inherits your estate, who manages it (your executor), and — if you have minor children — who raises them (your guardian). Without a will, BC's intestacy rules decide all of this for you, and they may not reflect your wishes at all. Review your will every three to five years, or after any major life change.
2. An Enduring Power of Attorney (EPOA)
This document gives someone you trust the authority to manage your finances and legal affairs if you become incapacitated. Without an EPOA, your family may have to go to court to obtain this authority — a slow and expensive process.
3. A Representation Agreement
Under BC's *Representation Agreement Act*, this document names someone to make healthcare and personal care decisions on your behalf if you cannot. It also allows you to state your wishes about medical treatment, including end-of-life care.
4. Beneficiary Designations
RRSPs, TFSAs, RRIFs, and life insurance policies all allow you to name a beneficiary directly. Assets with named beneficiaries pass outside your estate — they are not subject to probate fees and are not governed by your will. Review these every few years and after any major life change. An outdated beneficiary designation (an ex-spouse, a deceased parent) can have serious consequences.
5. A Letter of Wishes (Optional but Valuable)
This is not a legal document, but it can guide your executor and family on things your will does not cover: who gets specific personal items, your wishes for funeral or memorial arrangements, passwords and digital accounts, the location of important documents. It can be updated without legal formality.
Estate Planning Checklist
☐ Will — drafted, properly executed, stored safely, copy with executor
☐ Enduring Power of Attorney — in place while you are still capable
☐ Representation Agreement — named someone for healthcare decisions
☐ Beneficiary designations reviewed on all registered accounts and life insurance
☐ Executor named and has accepted the role; alternate named
☐ Guardian named for minor children
☐ Key documents location known to family or executor
☐ Digital estate: passwords, accounts, instructions documented
☐ Letter of wishes (optional) — personal property, memorial wishes, guidance
☐ Will reviewed after: marriage or cohabitation, separation, birth of child, death of beneficiary or executor, significant asset change
Common Gaps BC Families Miss
- Not reviewing beneficiary designations after separation — a former spouse may still be named
- No representation agreement — a will and EPOA cover finances but not healthcare decisions
- Executor named without asking them first — the named person may not want the role or be suitable for it
- Will stored somewhere no one can find it — an original will that can't be located may be treated as revoked
- Blended family not addressed — stepchildren do not inherit under BC intestacy law unless adopted; a will is essential
- Digital assets not documented — banking, email, social media, and cryptocurrency accounts that no one can access
When to Start
The honest answer is: now. Estate planning is not a task reserved for people over 60 or people with significant wealth. If you have a partner, a child, a home, a business, or anyone who depends on you — you need an estate plan. The cost of getting it done is a fraction of the cost of not having it when something goes wrong.
As soon as you have assets, dependants, or anyone who relies on you — which for most people means their 20s or 30s. The legal minimum age to make a will in BC is 19 (or 16 if you are married or in a common-law relationship). The right time to start is before you need it, not after something goes wrong.
No. Under BC's WESA (which came into force in 2014), marriage no longer automatically revokes an existing will, as it did under the older Wills Act. However, your spouse acquires certain rights on death — including the right to apply under wills variation if they are not adequately provided for. You should review and update your will when you marry.
If you named a successor holder (a spouse or common-law partner) on your TFSA, the account transfers directly to them with no tax consequences and no loss of contribution room. If you named a designated beneficiary (anyone else), the funds pass directly outside the estate but the tax-sheltered status ends and income earned after death may be taxable. If no beneficiary is named, the TFSA becomes part of your estate.
For simple situations — a single person with straightforward assets and a clear distribution — a DIY approach may work. But most people benefit from professional guidance: a lawyer can identify issues you haven't considered, ensure documents are properly executed, and advise on interactions between your will, beneficiary designations, jointly held property, and taxes. Many estate planning lawyers offer fixed-fee packages that make the cost predictable.