Wills & Estate Planning
Understanding Wills & Estates
Developing a will or estate plan can be hugely beneficial for an individual and their family. Estate documents include a will, a power of attorney, a personal health directive, and trusts. These documents provide certainty during your life if you become mentally incapable of making decision, and upon your death by formalizing the handling of you estate. At McLean Legal Family Lawyers, we can help you draft and prepare you estate documents in accordance with your wishes.
Simple & Complex Wills
A will is a crucial document that stipulates the distribution of an individual’s estate after they pass away, which may include real estate, money, and personal belongings. A will can provide for specific gifts, ongoing support, life estates, guardianship of children, and dispute mechanisms, to name a few. A will can be simple or creative, depending on your specific situation. A formal will can minimize family disputes and legal proceedings.
The Benefits of Having a Will
Having a will provides a sense of ease knowing that your loved ones are taken care of. These documents provide specific directions to reduce confusion about your intentions and wishes to reduce disputes. Also, you can control the distribution of your estate. Without a will, your estate is disbursed in accordance with the Will and Succession Act. As the leading estate lawyers in Calgary, we can draft a will that meets your needs.
What’s included in your will depends on your situation. Wills can include directions regarding specific gifts or legacies, life estates, the residue, maintenance or support, trusts for dependents, guardianship of children, who your executors will be, who your beneficiaries are and any alternative beneficiaries.
We can help you decide what to include in your will based on your situation.
Understanding Wills & Estate Administration in Alberta
The administration of an Estate can be scary and overwhelming. We can assist you by helping you understand your obligations under the Estate Administration Act, providing directions on your duties, and helping to prepare the necessary documentation for probate. Whether the estate has a formal will, holographic will, or no will, we will use our experience and knowledge to help you.
We will review your estate wishes, your legal obligations, and your current situation. Furthermore, we will help identify and resolve any concerns that may arise due to future plans, family conflict, or legal obligations. It is very important that the directions in your will are clear. Ambiguity can cause confusion for your executor, lead to litigation, and cause unintended consequences (e.g. alter how you estate is disbursed).
A formal will is one that meets legal requirements set out in the Wills and Succession Act. A holograph will is prepared solely in your handwriting and is signed at the end only by you.
You should review your will and estate documents every 2-5 years or after any major life events, such as marriage, divorce, having children, death of a loved one or major financial changes. Reviewing and updating your will with our family lawyers ensures that it reflects your current situation and wishes.
Yes, it can be. You can revoke your will by destroying it or having a written and signed statement that you are revoking it.