Uncategorized

Do You Need To Update Your Will?

Do You Need to Update Your Will? We often discuss the importance of putting a Will in place. However, in some cases, having an out-of-date Will may be more problematic than not having a Will in place at all. The following example is illustrative. Ali’s Current Will At the time the Will was drafted, Ali was married to Brett. They had two children, Austin (12) and Blake (15). A lawyer prepared mirrored Wills (i.e. two individual, almost identical Wills, where the terms of each Will reflect those of the other). Both Wills have the following terms: ·         The surviving spouse…


Read More
Tax & Estate Planning

When to Review Your Estate Plan

While death and divorce may be clear indicators that a review of Will is needed, a variety of life events can impact your estate planning, from starting a new business venture to welcoming a new member of your family. These changes may impact not just your Will but also your Enduring Power of Attorney or Personal Directive. The following table presents a non-exhaustive list of circumstances that should prompt a review of your estate plan. When to Review Your Will A non-exhaustive list of circumstances that should prompt a review of your estate plan A. Changes in Family Relations ·        …


Read More
Tax & Estate Planning

The Modernization of the Estate Planning Process?

A Discussion of Recent Changes in BC and Alberta Remote Signings Officially Possible in Alberta Back in May, we excitedly announced that Wills, Enduring Powers of Attorney, and Personal Directives could be validly signed and witnessed via video conference in Alberta. While that was technically true, it became immediately clear that further guidance would be required in order to make the process workable. The initial language allowed witnessing to occur virtually, but it did not specify that each witness could sign a separate but identical version of each page of a Will (i.e. it did not allow counterpart signature pages)….


Read More
Tax & Estate Planning

Estate Planning in Uncertain Times

Caution: Documents prepared at home may not be effective in achieving your wishes Posted by: Britta Graversen | May 15, 2020 | Filed under: Estate Planning PLEASE NOTE: Since the date of this post, the Province of Alberta passed a Ministerial Order regarding virtual witnessing of estate planning documents, which impacts the options available during this time. Please see our post on that topic dated May 25th, 2020 for additional information. Everyone speaks about all the "extra time" we have on our hands these days, but I have personally found that, in many ways, it feels like there are even...

Read More