Access our free probate or estate planning checklist. Instantly access now.

Access our free probate or estate planning checklist. Instantly access now.

Blog
Estate Planning
How Much Does a Will Cost in BC

How Much Does a Will Cost in BC

Discover BC will costs starting at $821. Compare prices, use our cost calculator, and learn what affects will prices in British Columbia.

  • Written by ClearEstate Staff
  • Posted on August 29, 2024
  • 4 min read time
Fact Checked

Fact Checked

The content on this page has been verified by an experienced estate expert such as a Trust & Estate Practitioner (TEP), Member Trust Institute (MTI), trust officer, lawyer, accountant, paralegal, or otherwise qualified professional to ensure it is factually accurate, meets current industry standards and helps readers achieve a better understanding of the topic covered.

How Much a Will Costs in BC

Article Contents

  1. Understanding Different Types of Wills in BC
  2. Factors Affecting Will Costs in British Columbia
  3. When to Update Your Will in British Columbia

According to a 2021 lawyer fees survey by Canadian Lawyer Magazine, the average cost of a will in British Columbia is $821 - however, the cost of creating a will can vary significantly based on your individual circumstances and the complexity of your estate.

To give you a clearer picture of what you might expect to pay, let's break down the average costs for different types of wills in BC:

Type of WillAverage Cost
Simple Will$821
Complex Will (Individual)$6,983
Complex Will (Couple)$2,158
Simple Will (Couple)

$1,067

Source: 2021 lawyer fees survey by Canadian Lawyer Magazine

Save Over $570 on Your Legal Will Today

Complete your will in under 20 minutes

Create your will now

Understanding Different Types of Wills in BC

Simple Will - Individual

A simple will is suitable for individuals with straightforward estates.

It typically includes:

  • Naming an executor
  • Specifying beneficiaries
  • Basic asset distribution instructions

This option is ideal for individuals with uncomplicated financial situations and clear beneficiary choices.

Example of when a simple will may be needed:

Sarah is a 35-year-old teacher with a modest savings account and a small investment portfolio. She's single with no children and wants to leave her assets to her siblings. Sarah's straightforward situation makes a simple will appropriate for her needs.

Complex Will - Individual

A complex will is necessary for more intricate estates.

It may include:

  • Detailed asset distribution plans
  • Trust creations
  • Business succession planning
  • Specific bequests or conditional gifts

This type of will is suitable for individuals with significant assets, business interests, or specific wishes for asset distribution. The higher cost in BC reflects the complexity often found in estates in this province.

Example of when a complex will may be needed:

Michael is a 55-year-old business owner in Vancouver. He has multiple properties, including a vacation home, significant investments, and a successful company. He wants to set up a trust for his grandchildren's education and has specific instructions for his business succession. Given the complexity of his assets and wishes, Michael requires a complex individual will.

Simple Will - Couple

A simple will for couples is a cost-effective option for partners with straightforward estates.

It typically covers:

  • Mirrored wishes for basic asset distribution
  • Naming guardians for minor children
  • Straightforward beneficiary designations

Example of when a simple will may be needed for a couple:

Alex and Taylor are a young married couple in their early 30s. They have recently purchased their first home in Victoria and have a joint savings account. They have a newborn child and want to ensure their assets go to each other if one passes away, and to their child if both pass away. They also want to name a guardian for their child. Their straightforward situation and mirrored wishes make them ideal candidates for simple wills for a couple.

Complex Will - Couple

Complex wills for couples address intricate estate planning needs for both partners.

These often include:

  • Mutual asset protection strategies
  • Provisions for blended families
  • Business ownership transfers
  • Tax planning considerations

Example of when a complex will may be needed for a couple:

John and Emma are a married couple in their 60s with a blended family. They own a family business, multiple properties, and have children from previous marriages. They want to ensure their assets are distributed fairly among all their children while protecting their business interests. Their situation calls for complex wills for a couple to address their unique family dynamics and asset distribution needs.

Factors Affecting Will Costs in British Columbia

  • Complexity of the estate: More assets, businesses, or specific requests increase the cost.
  • Real estate holdings: Given BC's high property values, this can significantly impact will complexity and cost.
  • Attorney's experience and location: Rates may vary based on the lawyer's expertise and practice location (e.g., Vancouver vs. smaller cities).
  • Additional services: Tax planning, estate analysis, or future update provisions can add to the cost.
  • Urgency: Rush services may incur additional fees.
  • International assets: If you own property outside of BC or Canada, this can increase complexity.

Will Cost Estimator

When to Update Your Will in British Columbia

Consider reviewing and potentially updating your will when:

  • Your marital status changes (note that marriage no longer revokes a will in BC)
  • You have children or grandchildren
  • Your financial situation significantly changes (e.g., acquiring or selling property)
  • You move to or from British Columbia
  • There are changes to BC estate laws or tax regulations
  • At least every 3-5 years to ensure it reflects your current wishes and circumstances

Creating a will is a vital step in ensuring your wishes are carried out and your loved ones are protected. While the cost in British Columbia may be higher than some other provinces, ClearEstate allows you to build a legally valid will for $249.

Ready to start creating your will in British Columbia?

Build your will now

Key Takeaways:

  • The cost of a will in BC varies widely, from simple wills averaging $821 to complex individual wills at $6,983.
  • Couple's wills offer better value, with simple wills for couples averaging $1,067 and complex ones $2,158.
  • Estate complexity, real estate holdings, and business interests are major factors influencing will costs.
  • Regular updates to your will are crucial, especially after significant life events or changes in assets.
ClearEstate Staff

Fueled by a passion for accuracy and a good espresso, ClearEstate's dedicated staff writers offer expert insights on estate planning and settlement.

Backed by our seasoned estate professionals and estate accountants with decades of experience, we rigorously research and fact-check every piece we publish.

Our mission is to provide up-to-date, reliable guidance during challenging times. At ClearEstate, we help make your path clear, turning uncertainty, into clarity.

Estate planning checklist Canada 1 Secure Your Legacy

Get your free 12-step Estate Planning checklist now. 89% of readers complete their estate plan within 3 months of using our guide.

Instantly Access Now

Related articles