A common misconception is that the government will inherit your estate if you die without a will. Your estate will only go to the government (called escheat) if you die without a will and have no surviving spouse, descendants, parents, grandparents or great-grandparents and also have no surviving descendants of a parent, grandparent or great grandparent of the 4th degree or lesser. If you die with at least one of the above beneficiaries, then the Wills, Estates and Succession Act outlines who gets your estate.
So why get a will? A will ensures your estate goes to who you want and that someone you trust carries out your wishes. It also allows you to name a guardian for your children, create trusts for minor and disabled beneficiaries, and outline funeral wishes. The flexibility of a will goes far beyond what is discussed above. Please contact our office to ensure you have a will that reflects your wishes.
For more information, contact Cory Goodrich at Pearce Schneiderat 250-492-0907