Do I Need  a Will?

Probably, yes.  While the surprisingly common belief that without a Will your estate will go to the government is NOT true, it is  true that without a Will:

--The Public Trustee, rather than a trustee of your choice will hold funds for minor children or other minor beneficiaries AND the funds must be given at age 18.  In a Will you can provide for the choice of Trustee and age for distribution.

-- Your spouse will receive all of your estate if all of your children are also your spouse’s children – if not, then your spouse will receive the greater of $150,000 or 50% of your estate, with the balance going equally to your children.

 --If you have no spouse or children your estate will go to your parents but if neither are alive then to your siblings equally, but if none then to your nieces and nephews equally.

 -- You cannot provide for assets with named beneficiaries such as insurance or  to be subject to the same trusts (i.e. for children) as your other assets.

What Does a Will Cost?

This depends on the complexity of your estate and wishes.  A basic Will starts at $450,  or $700 for husband/wife mirror image Wills.   We would be pleased to discuss your situation.

Does Alberta recognize common law spouses and does the survivor  have any rights on the other's death?

Yes.  Recent legislation has given certain rights to persons now known as an Adult Interdependent Partner.  The laws are complex and far reaching.    We would be pleased to discuss this in more depth should you desire.

For more information, please call Shel Laven at 263-2444 est #2

        or e-mail shel@lavenco.com

Enduring Powers of Attorney and Personal Directives are often discussed and made at the same time as your Will, as part of your global disability and estate planning.

      INFO

   Shel Laven -- Wills, Estates&  Probate Lawyer

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