Are You Looking for a Calgary Wills & Estates Lawyer?
At Shory Law, our wills and estates lawyers can guide you with Estate Planning and Estate Administration.
Our wills and estates lawyers are here to assist you with preparing and drafting:
A will is a legal document that allows you to:
- Direct how property will be distributed after your death;
- appoint a personal representative to carry out the wishes in your will and to manage and distribute your property after death; and
- Name any guardians for children who are minors at the time of your death.
For a will to be legally enforceable, it needs to clearly state your wishes and eventually be confirmed by the courts. A carefully drafted will would prevent increased estate administration costs in the future. In Alberta, if a person dies without a will (intestate), then the Wills and Succession Act determines the next steps.
Enduring Power of Attorneys
An enduring power of attorney is a legal document that allows a person (the “donor”) to choose a person (the “attorney”) to look after the donor’s legal and financial affairs both before and after the donor becomes incapable of doing so. The Enduring Power of Attorney allows the attorney to deal with financial matters such as the donor’s home, mortgage, bank accounts, debts, bills, and insurance.
A Personal Directive is a legal document that allows an adult who has capacity (the “maker”) to appoint another adult person (the “agent”) to make personal decisions for him or her at a future time if the maker no longer has the capacity to make them. A Personal Directive allows an agent to plan for non-financial personal matters on behalf of the maker, like medical treatment, residence, carrying on with life support, and other personal activities.
If a family member passes away, or you are a Personal Representative named in a will, you might require a wills and estates lawyer to assist you with you dealing with the deceased’s estate.
Grant of Probate
If a family member passes away and they have left a will, you will have to ask the Court to “probate” the will and give you a Grant of Probate. Applying for a Grant of Probate proves the legality of a will and allows the named Personal Representative to distribute the deceased’s estate and assets to the named beneficiaries.
A Grant of Probate will allow the executor to deal with banks, the Alberta Land Titles office, and other institutions holding assets of the deceased.
Grant of Administration
A Grant of Administration is similar to a Grant of Probate, however, it is the grant that is applied for if a family member passes away without a will or with a will that is not valid. A Grant of Administration will allow an appointed Personal Representative to administer the deceased’s estate.
Based on the Wills and Succession Act, the law determines the priority of who will be named as the Personal Representative of the estate of a person who dies without a will. The Act also governs the beneficiaries for a person who dies intestate (without a will).
Preparing A Will
Here’s a quick guide to preparing a Will.
Make a list of your assets. Find out what you own, how much you own and include very real estate, account, investments, etc.
Decide who your heirs are going to be and how much share of the property each one of them will get and what they will get.
Hire a Wills & Estates Lawyers in Calgary, someone you trust 100% and discuss your intentions with them.
Talk to your accountant on issues related to tax planning.
Prepare a personal directive and enduring power of attorney, which specifies who should manage your affairs should you be rendered incapacitated by an injury or illness.
Why hire a wills & estates lawyer in Calgary?
It’s not so easy to prepare a Will and to carry out estate planning yourself; you will need professional help with that. Shory Law is a leading Calgary Law Firm that specializes in Family Law.
We have an experienced team of lawyers specializing in Family Law who work with executors, families and trustees on the Administration of Estates. They handle all court applications; it is their responsibility to take care of all of the legal details related to the Will and Estate Planning.
If I get married or divorced, does that affect my will?
No. It is important to update your will if you experience any major life changes. If your former spouse is mentioned, or if your new spouse is not mentioned, your affairs will be governed by the latest version of your will.
Do I need to create a new will when I update the distribution of my estate?
If you intend to alter the distribution of your estate, it is important that your intended changes are reflected in your will. It would be wise to speak to a wills and estates lawyers to assist you in drafting a new will or Codicil (a document explaining changes you wish to make to your will).