The legacy of love blog

Who should you appoint as your Executor?

Uncategorized Jul 17, 2019

Appointing an Executor to administer and handle your estate is an important decision. This is the person (or people – or organization) that you are entrusting with the disposition of your property and possessions. Basically, your Executor will grant your final wishes.

Here are three things to consider when appointing an Executor:

1. Age and Qualifications

It is important to take the qualifications of your Executor into consideration. While they are not required to be an expert in...

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Drop the Mic: We have a Canada Wide Wills Registry!

Uncategorized Jul 11, 2019

The silence is always deafening.

At least once a week over the last 18 years, I have had to end a will signing on an uncomfortable note. Shortly after the document has been signed and my staff have left the room to make the necessary copies, the client asks when I will be registering their will.

I swallow and clear my throat - there is no will registry in Alberta. I have no place to register your documents. The client looks at me and expectantly says "WHAT?" They are shocked and...

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Why is it important to review your Will?

will Jul 02, 2019

Your Will is the document that specifies how your estate will be distributed upon your passing. Once it is made, it should be reviewed and updated to account for any major life changes. Many people will create a Will, store it in a safe place, and then forget about it, failing to consider that when it comes time to read the Will, it may not adequately address new or altered relationships and circumstances. Here are three reasons why you should review your Will:

You need to appoint a new...

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What are the benefits of having a joint bank account with your spouse?

Uncategorized Jun 26, 2019

A bank account held jointly by spouses has many benefits – one being convenience. It enables both parties to deposit or withdraw monies in accordance with any guidelines set by the account. The pairing may choose to hold a primary joint account that is used to pay bills with ease, and to hold additional accounts in each of their individual names – and that is fair, but if the intent is to avoid probate altogether, this may not be functional.

If spouses hold a bank account jointly...

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What Should I do with the Cabin?

Uncategorized Jun 20, 2019

Family cabins provide memories of times sitting in the sun,sipping wine or drinking beer, however for some families the cottage goes from being the family castle to being the family haunted house.

Whenever a married couple owns a family cottage their wills should state who gets the cottage after the last of them dies. Many time the couple will want to give the cottage equally to all their children equally. While other times people may want to create various other vehicles for the...

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What to do if you find a body

Uncategorized Jun 12, 2019

Our staff was at the West End Seniors Association Bigger Bolder Better Symposium the beginning of June. We had lots of questions about revising wills and probate but one of the top questions we received was  - WHAT TO DO IF YOU FIND A BODY. I have to say my staff was stumped by this question, and we thought dial 911? Call the funeral home? Call the police? None of these answers seemed to address the concern that these seniors had about finding a friend or family member who had...

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Cant Give What you Aint Got!

Uncategorized Jun 05, 2019

In our office, we meet with clients to discuss what types of gifts people want to leave in their will. On a daily basis, we see clients who try to give away more then they have. These clients typically arrive at our meeting with a long list of who gets what, and many times the list of who gets what if the first beneficiary dies can be even longer. However, many times after we examine the person's assets and analyze what amount of tax will need to be paid upon their death along with any items...

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Codicil v. New Will - Should I re-write my will or have a codicil made?

Uncategorized May 29, 2019

Many people contact our office and want to make a small change to their wills. For some clients, it may be that their executor has died, or maybe their child is now old enough to become the executor. Whatever the change and reason for the change, we are often asked if the change should be done by Codicil or a will-re-write.

A codicil is a document separate from the original and apart from the will that makes an addition or a change to the will. In our office we try to avoid creating codicils...

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Henson Trust

Uncategorized May 22, 2019

In January 2019 the Supreme Court of Canada released a decision on the case of S.A. v. Metro Vancouver Housing Corp. 2019 SCC 4. This case is a positive decision for persons with a disability.

The case involved a 56-year-old women (S.with disabilities who couldn't work, and who was denied a housing subsidy in 2015 because she refused to provide the Metro Vancouver Housing Corporation information about a Henson trust that she had been left in her late fathers estate. The  women was told...

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Mobile Wills

Uncategorized May 08, 2019

Our clients are increasingly mobile and often have connections to multiple jurisdictions. They may own a house in Palm Springs, have bank accounts in the UK, a cottage in Croatia, or a business in Spain.

Our office once dealt with and estate where a husband and wife had been married for several years. They had three lovely children, and owned a successful business in Edmonton. When the husband past, everything rolled over to his wife...BUT the condo in Hawaii! We had to take the Canadian will...

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