Wills Lawyers In Calgary, AlbertaJeff Kahane2022-03-08T23:23:49+00:00
Wills lawyers in Calgary
Calgary Wills Lawyers
As wills lawyers in Calgary we recognize that people plan for their future in different ways. The wills and estates lawyers at Kahane Law Office are here to meet your estate planning needs. Remember, without a will, provincial law determines who will inherit your estate. This same law will also trigger when they will receive it. We refer to an estate with no will as an intestate estate. Learn about how wills protect your wishes, you estate, your beneficiaries and family. In Calgary, Alberta call 403-225-8810. We always meet with you to assist in drafting your will.
A will determines many factors. We review each of them with every client so that they make informed choices throughout the process. That said, several factors play more predominant roles in people’s minds than others. The key benefits to having a will include your ability to determine many things about the dealing of your estate. For example, this includes naming the person or people who will:
Administer your estate
This person decides how to manage your assets after your death, ensure your beneficiaries receive what you want them to, run your business for your estate, invest your estates assets for the benefit of your beneficiaries and wind up your estate including the filing of your final tax return. This person is the executor or executrix but is now titled the personal representative. This was only a name change in the position and not a change to the role. A key factor in selecting this person includes ensuring that you trust them. Many argue that is the only factor, however having the skill set to manage your estate is also important. Talk to your wills lawyer. The role of the personal representative changes depending on the nature of your estate.
Inherit your estate
Next, you give specific assets to specific people and / or split your estate into percentage shares. Some people make provisions for charities, while others are concerned with family members or specifically disinheriting someone. The choice is largely yours in determining who benefits from your estate. Our Calgary wills lawyers help ensure that you follow Alberta law with respect to the terms you put into your will. This helps to avoid estate disputes and litigation. Further, it allows you to strategically plan for tax advantages, thus helping your beneficiaries. Lastly, a will is the only mechanism to ensure that your estate ends up with the people you want it to.
Be guardian of your children
While a non-deceased parent will generally continue to raise your child/children, wills lawyers work with you to appoint a guardian of your children. You do this in the event that the other parent passes before you. People often pick a trusted friend or family member. The key importance with setting this up is ensuring your children’s upbringing in a manner consistent with what you want. For example, relevant considerations include religion, education, morals, ethics, etc.. Learn more about wills after you have had children. In addition, we often add guardians for people with no children in case they become guardians of minors at a future date.
Administer a trust for minor beneficiaries, spouses and others
Lastly, your will allows you to set up a trust to ensure that a minor beneficiary, spouses, disabled beneficiaries, spendthrifts, etc. receive their inheritance when ready to responsibly manage it. Our testamentary trust lawyers help you set up those trust provisions. While permissible for your estates assets use for education and day to day living, many people prefer to leave the bulk of their estate to minors at an age over 18 (Alberta). In most cases, older ages reflect when people are financial responsible or have the income from assets go to one person and the capital to another.
Wills Lawyers Reviewing Your Existing Will
With the change in will legislation, so were the rules surrounding wills changed. Many of our clients’ will were drafted under the old laws. In some instances, the effect on their estate necessitates a change to their will. While our lawyers are happy to review your will, often a more cost effective solution is the redrafting of a will from scratch. This ensures that we resolve drafting issues without the expense of the review. We also then ensure that your current wishes are reflected in your estate plan.
The laws surrounding wills and estate administration have changed in Alberta. The Wills and Succession Act was proclaimed in Alberta on February 1, 2012. This legislation incorporates substantial changes into the areas of wills and estates. Kahane Law Office would be pleased to assist you in deciding if you need to make changes to your will based on these changes. You can reach us toll-free at 1-877-225-8817, 403-225-8810 locally oremail us directly here.