In BC, your choice between single and multiple wills depends on your asset composition and estate value. A single will works well for estates under $1 million or those primarily containing probate-required assets. Multiple wills can save significant probate fees (about 1.4% of asset value) by separating probate and non-probate assets, but add complexity and higher initial legal costs. The strategy proves most beneficial when your non-probate assets exceed $1 million, offering both tax savings and privacy advantages.
Understanding Probate Fees in British Columbia
When estate planning in British Columbia, understanding probate fees is essential for making informed decisions about whether to use single or multiple wills.
In BC, probate fees are approximately 1.4% of the gross value of assets that pass through the estate. For every $1 million in assets, you will pay about $14,000 in fees. These costs apply to assets that require probate – typically those solely in the deceased’s name.
The probate process involves two phases: first, disclosing the estate’s inventory to the court to obtain a Grant of Probate, and second, distributing assets to beneficiaries.
When a Single Will Makes Sense
Despite the potential benefits of multiple wills, a single will approach remains the most sensible option for many BC residents.
If your estate consists primarily of assets that require probate (like real estate and financial accounts) with few or no private company shares, the complexity of multiple wills is not justified.
A single will is also appropriate when your estate’s value falls below the threshold where probate fees become significant—typically under $1 million.
The additional legal costs of preparing multiple wills (which can range from $2,500-$5,000) may outweigh the potential savings.
Furthermore, if you prefer simplicity in your estate administration, a single will reduces complexity for your executor.
This straightforward approach allows for clearer directions and potentially faster distribution to your beneficiaries, particularly in uncomplicated family situations.
The Multiple Wills Strategy Explained
The Multiple Wills Strategy in BC represents a sophisticated estate planning approach for individuals with complex asset portfolios.
This technique involves creating two separate wills: a Primary Will covering assets requiring probate (like real estate and bank accounts), and a Secondary Will governing assets that do not need probate (such as privately-held company shares and personal items).
Asset Categories: What Requires Probate vs. What Doesn’t
Understanding which assets require probate and which do not forms the foundation of an effective multiple wills strategy in British Columbia. By categorizing your assets correctly, you will maximize the benefits of using multiple wills while minimizing probate fees.
| Assets Requiring Probate | Assets Not Requiring Probate |
|---|---|
| Real estate solely owned | Private company shares |
| Bank accounts in your name | Personal effects and jewelry |
| Public company investments | Assets held in joint tenancy |
| Registered accounts without named beneficiaries | Loans receivable from companies |
When creating your multiple wills strategy, place assets that require probate in your primary will, and those that do not in your secondary will. This separation allows your executor to probate only the primary will, saving your estate significant probate fees while maintaining privacy for your business interests.
Legal Requirements for Secondary Wills in BC
For your secondary will to be legally valid in BC, several specific requirements must be met to confirm it functions effectively alongside your primary will.
The courts have established clear guidelines to ascertain multiple wills work properly within BC’s legal framework.
- You must appoint different executors for each will—the same person cannot serve as executor for both your primary and secondary wills.
- Each will must clearly identify which assets it governs without overlap or contradiction between documents.
- The wills must contain specific language preventing one from revoking the other.
- Your secondary will must be properly executed with the same formalities as your primary will, including proper witnessing by two adults.
The Executor Dilemma: Different Executors for Different Wills
Unlike most estate planning decisions, BC law presents a unique challenge when creating multiple wills—you must appoint different executors for each document. This requirement exists to maintain the separation between probate and non-probate assets, preventing cross-contamination that could expose all assets to probate fees.
| Executor Considerations | Primary Will | Secondary Will |
|---|---|---|
| Relationship | Close family member | Trusted professional |
| Responsibility | Probate assets | Non-probate assets |
| Expertise needed | Legal process knowledge | Business/investment acumen |
When selecting these different executors, you will need to take into account their qualifications, willingness to serve, and ability to cooperate. Many testators appoint a spouse or child for the primary will and a business associate or accountant for the secondary will containing private company shares or other non-probate assets.
Privacy Benefits of the Multiple Wills Approach
Why would you want to keep your estate details private after you are gone? Using multiple wills in BC can greatly enhance your estate’s privacy.
When you probate a will, your asset details become public record—accessible to anyone willing to pay the fee. By creating a secondary will for assets that do not require probate, you are protecting sensitive information from prying eyes.
- Your business valuation remains confidential, protecting your company’s competitive position.
- Family heirlooms and their distribution stay private, reducing potential family conflicts.
- Debt information does not become public knowledge, preserving your financial reputation.
- Specific bequests to individuals or charities remain discreet, respecting both your privacy and theirs.
Potential Pitfalls and Risks of Using Multiple Wills
While multiple wills can offer significant probate fee savings and privacy benefits, this strategy comes with several notable risks that shouldn’t be overlooked.
First, you will need different executors for each will, which can create administrative complexity and potential conflicts. Legal costs for drafting multiple wills are higher than preparing a single document.
Managing multiple wills requires separate executors, increasing administrative burden and potential disputes while driving up initial legal costs.
Additionally, if your secondary will isn’t probated, the window for potential challenges remains open indefinitely, creating long-term uncertainty for your beneficiaries.
The wills must be carefully drafted with precise language to avoid one accidentally revoking the other.
Finally, this strategy is not beneficial unless your non-probate assets exceed approximately $1 million in value, as the increased legal fees may outweigh the potential probate savings otherwise.
Cost-Benefit Analysis: Is the Multiple Wills Strategy Worth It?
Deciding whether to implement a multiple wills strategy requires a thorough cost-benefit analysis based on your specific circumstances.
When determining if this approach makes financial sense for your estate, you will need to weigh the upfront legal costs against the potential probate fee savings.
- Multiple wills generally become cost-effective when your non-probate assets exceed $1 million, as the savings on probate fees (approximately 1.4%) will outweigh the additional legal fees.
- You will incur higher initial legal costs—typically $2,000-$5,000 more than a single will.
- The strategy requires appointing different executors for each will, which may complicate estate administration.
- Potential savings must be balanced against increased complexity and the possibility of leaving wills variation claims open indefinitely for non-probated wills.
Estate Planning Strategies Beyond Multiple Wills
Beyond the multiple wills strategy, a detailed estate plan should incorporate several other powerful tools that can help you achieve your legacy goals. At Vest Estate Law, our boutique team of dedicated legal professionals can guide you through these complementary strategies alongside your will planning.
| Strategy | Benefits | Best For |
|---|---|---|
| Trusts | Privacy, tax planning, control | High-net-worth families |
| Power of Attorney | Financial management during incapacity | All adults |
| Representation Agreements | Healthcare decisions if incapacitated | All adults |
| Joint Ownership | Probate avoidance, easy shift | Spouses, select assets |
| Beneficiary Designations | Direct transfer, probate bypass | RRSPs, TFSAs, insurance |
While multiple wills can reduce probate fees, these additional strategies create a thorough approach to protecting your assets and ensuring your wishes are honoured efficiently across both Alberta and BC.
Frequently Asked Questions
Can Multiple Wills Be Contested More Easily Than a Single Will?
Multiple wills are not necessarily contested more easily, but your non-probated secondary will remains vulnerable indefinitely since the challenge period never expires, unlike a single probated will.
How Do Multiple Wills Affect International Assets or Foreign Beneficiaries?
Multiple wills can streamline distribution of international assets by following each country’s inheritance laws. They will also help your foreign beneficiaries avoid complicated cross-border probate procedures and potential double taxation issues.
Can One Will Be Invalidated Without Affecting the Other?
Yes, one will can be invalidated without affecting the other if they are properly drafted with clear separation. You will need explicit language showing each will is independent and self-contained.
Do Multiple Wills Require Different Witnesses for Each Document?
You do not need different witnesses for each will. Each document requires two witnesses who are not beneficiaries, but they can be the same people for both wills.
How Do Multiple Wills Interact With Trusts Already Established?
You will need to coordinate your multiple wills with existing trusts, ensuring they do not contradict trust provisions. Assets already in trusts bypass probate and will not be affected by either will.
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Myron Plett
WILLS and ESTATES LAWYER
Myron is a seasoned litigator with nearly twenty years of experience and a broad range of skills that has led to significant successes in the Provincial Court of British Columbia, the Supreme Court of British Columbia. He has also taken his clients to victory before tribunals such as the Residential Tenancy Branch and the BC Human Rights Tribunal.
