The key feature of any estate plan is a will – a legal document that allows individuals to decide how their assets will be handled following their death. You can also specify who will be the Executor – the individual who administers the distribution of your assets.
Special care needs to be taken in the drafting of a will, also known as a Last Will & Testament, as it is legally binding.
Choosing Kiriak Law to prepare your will or Power of Attorney means you will have the peace of mind that comes with knowing that you have a sound estate plan and your proceeds will be distributed as planned. A properly planned and executed will is also necessary to address other key issues, such as instructions on how to handle your funeral and burial and the payment of any outstanding debts.
Without a will, a third-party will decide how your assets are distributed and it is likely that you would not agree with some or all of these decisions. In addition, the total value of your estate could be reduced by pro-bate taxes, which means your beneficiaries will be denied some of the proceeds they would otherwise have received.
It’s important to remember that you can update your will at any time and that regular review of your will is advisable as your objectives can change over time. Every update of your will should be completed with the guidance of an experienced will and estate planning lawyer, which is the best way to ensure that your will does not include errors that could be contested. Some of these errors could be very simple, such as the lack of signatures, or they could involve a problem that only a trained will and estate lawyer could identify and correct.
You can find yourself involved in estate litigation when there is no will or a will is challenged for a variety of reasons, ranging from undue influence to elder abuse. Kiriak Law can help you achieve a successful outcome or, better still, avoid litigation by having a sound wills and estate plan that cannot be challenged successfully in court.
Learn more about wills and estate law and what’s involved in writing a will in Alberta by checking out our web page on frequently asked questions about wills and estates.
If you don’t have a will, need help and guidance to update an existing will or are considering contesting a will, contact Kiriak Law online or by phone to request a no obligation consultation with a will and estate planning lawyer.
How long does it take to probate a Will in Alberta? Does dying without a will create special legal challenges? How much does a Will cost?
Get answers to your legal questions by requesting an introductory consultation with a Wills and Estates lawyer at Kiriak Law, each having extensive experience handling probate and estate administration applications.
Mr. Jerry Kiriak stresses the importance of taking prompt action in any legal matter involving Wills and Estates. “It is never a good idea to play the waiting game as you may miss important windows of opportunity that only open once,” Mr. Kiriak says. “I am here to help and the sooner you call me, the more I can help.”