How much money should you leave behind after death?

BC Funerals Association says a death in a family unit occurs, on the average, once every 12 years

You can’t take it with you when you die, so how much money should you leave behind?

Not everyone has money to pass along in their will, but retirement adviser Willis Langford says it’s good to leave at least enough for your funeral costs.

According to the BC Funerals Association, a death in a family unit occurs, on the average, once every 12 years.

According to the Public Guardian and Trustee of British Columbia, the personal representative named in a will has the first priority in arranging the funeral of a loved on, followed by the deceased person’s spouse.

Next are adult children, adult grandchildren, parents, adult siblings, adult nieces and nephews, then other closest next of kin.

Depending on the cause of death and other factors, British Columbians have access to nine different death benefits and financial assistance programs.

With files from The Canadian Press


@ashwadhwani
ashley.wadhwani@bpdigital.ca

Like us on Facebook and follow us on Twitter.

Just Posted

Narcosli Creek Fire 50% contained; Blackwater River Fire gets more firefighters

An incident management team for fires in the North Cariboo to be established by the end of the week

Quesnel air quality index rating at 10+

Heavy smoke in the air a very high risk for residents

UPDATE: Wildfire on Hawk Road, off Nazko Road, now extinguished

Crews had the fire out within a day after it started Aug. 12

Get involved in the Great Canadian Bumble Bee Count

Environmental organization develops app to help with the nationwide count

Letter: Let marijuana growth in ALR

How much more unproductive land do we want to accumulate in the ALR?

Average Canadian family spends 43% of income on taxes: study

Fraser Institute’s consumer report shows taxes accounting for larger chunk of income each year

Seven people with ties to Red Scorpions gang arrested in B.C. drug bus

Delta police have secured 94 charges against seven people, including drug and firearm offences

Second measles scare this summer at YVR

An infected traveller flew out of Vancouver’s airport three times

Judge OKs Weinstein suit, cites casting couch’s history

Actress Kadian Noble can sue disgraced Hollywood mogul for violating sex trafficking laws

Employers to raise salaries 2.6% on average next year: report

Firm points to factors such possibility of more trade protectionism, rising interest rates

PM Trudeau and federal ministers to meet on Vancouver Island

Cabinet retreat will be held in Nanaimo from Aug. 21-23

Evacuation alert lifted for 57 properties in Houseman Road area

The Houseman wildfire is now considered being held and is 100 per cent contained

B.C. school’s pledge to ban sex outside of heterosexual marriage now optional

Community convenant of Langley’s Trinity Western University has been centre of rights debate

48 sockeye, harbour seal seized from poachers caught on B.C. river

Charges pending after two poachers arrested for salmon fishing at night

Most Read