There are many factors to consider when planning for the future. We understand that deciding what happens to your property after you die can be difficult. Our estate planning lawyers can help make this part of your estate planning process easier and more organized.
We highly recommend securing a wills package that consists of a Will, Power of Attorney and Personal Directive. These legal documents provide you and your loved ones with peace of mind and ensure that your wishes are carried out according to your plan.
The best part is you can get everything taken care of in one place – we make it convenient for you at Chahal Raj Law.
The best way to protect yourself and your family is to prepare a written document called a Will. This document outlines who gets what after you die, including your real estate property, financial assets, and personal belongings. It also includes instructions about funeral arrangements, burial plots, and any special needs you might have.
What Makes A Will Legal In Alberta?
The law requires that a valid will be signed and dated by two adult witnesses of sound mind who are present at the time of signing.
The Importance of Keeping Your Estate Planning Documents Updated
It’s essential to keep your estate documents up-to-date. The law and your life situation change all the time, so it’s necessary to review your documents regularly. You want to ensure that they are accurate and reflect your current wishes.
If you haven’t updated your estate planning documents in a while, you should contact an experienced lawyer as soon as possible. There are many reasons why you might want to consider making changes to your current estate planning documents. You could include new beneficiaries such as minor children, updates to remove a deceased person, updates to remove the name of your spouse after divorce, update provisions regarding trusts, add codicils, , and more. Your estate planning lawyer can help you identify any problems and suggest solutions.
If you’d like more information on estate planning, please call us today at (780) 447-2799 or contact us through this link for your questions. We look forward to helping you.
A will allows you to specify who gets what when it comes to your property and possessions after you die. It provides a way to protect your family, divide your assets and property as you see fit, and avoid disputes between your relatives.
It’s important to understand what happens to your assets when you die.
If you die without making a Will, then your estate will be categorized as intestacy. The Wills and Successions Act determines who gets what when someone dies without a Will. This could lead to arguments among your family members and cause legal problems for your survivors in distribution of your estate.
If you don’t want your family to deal with these unfortunate issues, it’s worth writing a will and keeping it updated when aspects of your life change. Contact our law office today to schedule an initial consultation with one of our Wills and Estates lawyers.
A Power of Attorney is a document by which you appoint a person to act on your behalf with regard to your finances (specific or general). This appointment ends if you become mentally incapacitated.
An Enduring Power of Attorney (EPA) does not end if you become mentally incapacitated. In fact, most EPAs do not come into effect until you become mentally incapacitated,
It would be best if you appointed someone to act on your behalf if you become mentally incapacitated. This person becomes known as your ‘Power of Attorney’ (POA). They can manage your finances and deal with your property and taxes when you are mentally incapacitated to take your financial decisions..
If you lose your capacity and do not have an Enduring Power of Attorney
An Enduring Power of Attorney (EPA) is a document that allows someone else to act on your behalf if you become mentally incapacitated. It gives them authority to manage your financial affairs, pay bills, sign contracts, and take care of any other legal obligations you might have.
It can be an expensive Court battle, if you become mentally incapacitated without an Enduring Power of Attorney as there will be no one to take care of your finances. You need to know how to protect yourself in case of an unforeseen event that could impact your family’s financial security.
A Personal Directive is a document by which you appoint a person to act on your behalf with regard to your personal decisions (specific or general).
A Personal Directive includes giving, refusal or withdrawal of consent with regard to health care. It also includes decisions about where and with whom you may live, with whom you may associate socially, educational and employment matters and legal matters that do not relate to your estate.
This legal document identifies your “agent,” which is a person you designate to ensure your written instructions are carried out in case you are mentally incapacitated to take your personal decisions.
Contact our law office for more information on how a personal directive can enhance your estate planning package.
If you have questions about preparing an estate plan, don’t hesitate to contact us at (780) 447-2799 or online. We look forward to helping you create an estate plan that works best for you.