WHAT IS THE WILLS VARIATION ACT?
In a nutshell, the British Columbia Wills Variation Act is the statute which permits a surviving spouse or children to contest a will on the basis that it does not make adequate provision for the claimant. The class of eligible claimants includes the surviving spouse, common-law spouse, same-sex spouse and both the natural and adopted children of the deceased.
Using insurance contracts with products like segregated funds, GICs, or annuities in your estate plan can be hugely beneficial for many reasons.