Protecting Your Assets with a Wills Lawyer in Calgary

When planning for the future, creating a valid and comprehensive Will is one of the most important steps you can take to protect your estate and support your loved ones. Whether your estate is simple or complex, legal guidance helps reduce the risk of disputes and ensures a smooth transfer of assets.

At First West Law LLP, our lawyers focus on providing legal clarity and structure around your estate decisions. This blog outlines the key roles our lawyers  play and the advantages of having a formal Will.

How Can a Wills Lawyer Help You?

A Wills lawyer in Calgary is trained to assist clients with drafting Wills that comply with Alberta’s legal requirements. Their responsibilities often include:

●      Interpreting estate laws: Understand the nuances of Alberta’s Wills and Succession Act, ensuring all legal provisions are met.

●      Drafting clear and enforceable documents: Use precise legal language to avoid ambiguities that could lead to future disputes.

●      Identifying potential challenges: Assess your estate structure to flag areas that may cause issues or conflicts later.

●      Ensuring capacity and voluntariness: Verifies that the individual creating the Will is mentally capable and is not being unduly influenced.

Legal professionals can also update your Will as life circumstances change—whether it involves marriage, the birth of children, property acquisition, or changes in beneficiaries.

What Are the Benefits of Having a Will?

Having a legally valid Will in place provides several practical and legal benefits:

●      Clarity of asset distribution: Control and certainty over your estate’s distribution, your instructions guide how your property is distributed among your heirs.

●      Appointment of an executor: You can designate a trusted person to manage the administration of your estate.

●      Guardianship for minors: A Will allows you to name guardians for children under 18, avoiding court-appointed decisions.

●      Tax planning opportunities: Proper structuring of your Will may help minimize probate fees and other tax liabilities.

●      Reduced family disputes: With clear directions in place, family members are less likely to engage in legal battles.

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Key Legal Requirements for Wills in Alberta

Alberta has specific requirements for a Will to be considered legally valid. These include:

●      Age and capacity: The testator (person making the Will) must be at least 18 years old and of sound mind.

●      Writing and signatures: The Will must be in writing and signed by the testator in the presence of two witnesses.

●      Witness eligibility: Witnesses must not be beneficiaries or spouses of beneficiaries named in the Will.

Failing to follow these steps could result in a Will being deemed invalid, which might leave your estate subject to intestate distribution laws.

Updating Your Will: When and Why It Matters

Creating a Will is not a one-time task. Major life events often require a review and update of your estate plan.

Reasons to update your Will include:

●      Marriage or divorce.

●      Birth or adoption of children or grandchildren.

●      Acquisition or sale of significant assets.

●      Relocation to another province or country.

●      Death of a named beneficiary or executor.

A Wills lawyer Calgary can ensure your updates are properly documented and consistent with legal requirements. Regular reviews help keep your Will aligned with your current intentions.

Choosing an Executor: What You Should Consider

The executor plays a central role in the administration of your estate. Choosing someone trustworthy and capable is essential. Consider the following when selecting an executor:

●      Availability and willingness: The executor must be willing to take on the responsibility and available to do so.

●      Organizational skills: Handling financial matters, paperwork, and court procedures requires strong administrative abilities.

●      Understanding of duties: The role includes filing tax returns, managing accounts, distributing assets, and possibly attending court proceedings.

Our lawyers can also assist with appointing a corporate executor if no personal choice is suitable.

Common Misconceptions about Wills

Misunderstandings about Wills can lead to estate litigation or unnecessary stress for loved ones. Common misconceptions include:

●      “Only the elderly need a Will.”

Wills are essential for adults of any age, particularly those with dependents or significant assets.

●      “A handwritten note is enough.”

While holographic Wills are legal in Alberta, they often lack legal clarity and are more prone to challenges.

●      “Everything automatically goes to my spouse.”

Without a Will, Alberta’s intestate succession rules apply, and they may divide your estate in ways you did not intend.

What Happens If You Die Without a Will?

Dying without a valid Will (called dying intestate) means your estate is distributed according to Alberta’s Wills and Succession Act, which may not align with your wishes.

This process includes:

●      A court-appointed administrator manages your estate.

●      Standard distribution rules apply regardless of personal wishes.

●      Delays in settling the estate due to administrative complexities.

●      Possible disputes among family members.

Having a Will helps you maintain control and reduces administrative challenges for your loved ones.

Planning for Charitable Giving and Legacy

Some individuals choose to leave part of their estate to charitable causes. A Wills lawyer can help structure charitable gifts in a way that meets both your philanthropic goals and your tax planning needs. This includes:

●      Specifying charities in your Will.

●      Establishing donation conditions or restrictions.

●      Ensuring compliance with Revenue Canada requirements.

Clear instructions help avoid confusion and ensure your legacy is carried out as intended.

Why Timely Estate Planning Matters?

Creating a Will is a responsible and necessary step for individuals seeking to manage their affairs in a structured and lawful manner. From clarifying your wishes to easing the burden on your loved ones, a well-drafted Will is essential in safeguarding your estate.

At First West Law, our team endeavours to provide the legal foundation required to help Albertans protect their assets and secure their future. Consulting one of our lawyers is a valuable decision for anyone who wishes to take a proactive approach to estate planning. Contact our team today to discuss your estate planning needs