— Weary and Company Law Office has the skills and experience to provide complete estate planning for clients in the St. Albert and Edmonton, Alberta area. The professionals are trained and knowledgeable about a range of legal details associated with probate, powers of attorney, estate litigation, personal care directives, and will preparation. The legal team is committed to assuring that assets are protected in order to offer a smooth transition of wealth to future generations.
A key element in estate planning is the creation of a will. The will is the legal record of everything which is to be done with the estate. The will is the only document which will describe how, where and to whom the estate will be distributed. There are several reasons why creation of a will is very important. Only the client can decide how they prefer to distribute any assets which may be available. The property of an individual who dies without a will (intestate), will be distributed according to a stated legal definition. The wishes of the individual are not considered.
By preparing a will, the client can decide who will manage the estate. Without a will, the affairs of the estate will be managed by the spouse, or by a child. For the individual who prefers to have matters handled by any other party, the information must be stated in the will.
If there are family heirlooms or collectibles, the disposition of such items can be spelled out in the terms of the will. Otherwise, the items, even valuable assets can be taken over by the government and the items placed in an auction to liquidate them and distribute the funds according to the formula stated by law.
Creation of a will allows the benefactor to decide how the estate will be distributed. For example, a payment of the estate proceeds may be set in stages based upon the age of the recipient. A will should be kept up to date, especially if there are changes in relationships. Divorce or remarriage can affect the distribution of the estate.
Name: Stacy L. Maurier
Email: Send Email
Organization: Weary & Company Law Office
Address: #400 30 Green Grove Drive, St. Albert, Alberta T8N5H6
Phone: (780) 459- 5596
Release ID: 117633