Wills and Estate Law
Wills and Estate planning allows you to address how your affairs should be organized in the event of your incapacity or death. Proper estate planning, along with the preparation of a comprehensive Will, gives you an opportunity to organize your affairs so that your loved ones can be provided for and your assets can be protected, utilized, and distributed as you see fit. This will involve the drafting of legal documents such as a Personal Directive, Power of Attorney, and Will. Our lawyers can help you plan for the future while minimizing the costs associated with that planning.
The preparation of a Will, Power of Attorney and Personal Directive can be a complex and highly personalized process. Obtaining the right legal advice is crucial in order to ensure that:
•Your beneficiaries are properly protected in the event of your passing;
•Your wishes are followed with respect to your financial affairs;
•Your loved ones can properly care for you if you lack the requisite capacity to govern your own affairs; and
•Taxes, capital gains, probate fees and legal fees are minimized in governing your financial affairs upon your incapacity or passing.
Our lawyers have experience in all aspects of estate planning, and can advise you throughout the process so that your wishes are followed. We can properly draft your Will, Enduring Power of Attorney and Personal Directive so that these documents comply with the relevant law and effectively carry out your personal intentions. We will also ensure that the probate process upon your passing is as seamless and cost effective as possible
Wills and Estate Law FAQ
Why do I need a Will?
You need a Will to ensure that your estate is distributed according to your preferences. If you die without a will, your property will be divided pursuant to Alberta’s Wills and Succession Act, which may not be how you would have chosen to divide your estate.
What is a Personal Directive?
A Personal Directive is a document that allows you to name a person that you trust to make decisions on your behalf, list the areas in which they have decision-making authority, and express your views about the personal care you would like to receive. It comes into effect if you lose the capacity, by reason of illness or accident, to make these decisions for yourself. A Personal Directive does not give authority to make decisions about your financial matters.
What is an Enduring Power of Attorney
A Power of Attorney is a legal document by which you grant a trusted person authority to make decisions on your behalf with respect to your financial matters. While a “normal” Power of Attorney ceases to be effective if you lose mental capacity, an Enduring Power of Attorney remains in effect. An Enduring Power of Attorney can also take effect upon your loss of mental capacity. This allows you to prepare for the possibility of future incapacity due to accident or illness.