The legacy of love blog

The point of points – what happens to your points when you die?

estate planning points Sep 04, 2017

Everywhere we shop we are encouraged to collect points. From gas stations like Esso and Petro-Canada; stores like Save-On Foods and Hudson’s Bay Company we have the opportunity to collect points with the individual store, Aeroplan or Airmiles. The points are free and many of us use them to buy little luxuries we might not otherwise enjoy. They are an intangible property that we never see but can have value.

I once dealt with an estate where a St Albert grandmother had been collecting...

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Your cruise ship has left port

estate planning will Sep 02, 2017

Many people who do not have a will believe that they can time the preparation of their will like they do an oil change. Unfortunately, dementia, which affects many new patients every year, does not provide adequate warning signs so that you can time the preparation of your documents before you become ill. There is no flashing sign that states “you have 25 days to write your will”. Many times the ship has left the port without anyone knowing that they were headed on a cruise.

...

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How is legal (in)capacity determined in Alberta?

Legal capacity addresses a person’s ability to understand the nature and consequences of making decisions that:

A) are legally binding

B) affect their rights, responsibilities, obligations, and legal entitlements, as well as those of others

Examples of these decisions include entering, buying or selling a home or business; initiating a lawsuit; and executing a Health Care Directive, Power of Attorney, or will. Someone who lacks legal capacity (in other words, is legally incapacitated)...

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Understanding Grants of Administration

When a person dies in Alberta without a will, they are said to die “intestate.” If a thorough search for a will turns up nothing and the estate has assets that need to be administered, a person may apply for a Grant of Administration so that those duties may be carried out.

Who May Be a Personal Representative?

Section 11(2) of the Surrogate Rules specify an order of preference when it comes to who may be a Personal Representative and apply for a Grant of Administration. Unless...

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4 common mistakes people make when naming a potential Guardian for their kids

guardianship May 20, 2017

Estate planning is strongly recommended for anyone, but when you have young children, the process is especially important. Urgent, even. Not only do you want to provide for them financially, you also need to name a guardian who will raise them in the event that you and their other parent die or are otherwise unable to care for them.

If you haven’t done this yet, you’re not the only one. Over 60% of parents have yet to name a guardian for their minor children. For some, it’s...

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Fairness

estate planning will May 08, 2017
I plan to be fair to my children, but if I leave them an unequal amount of money, am I setting up a future battleground? 
 
Fair isn’t always equal in estate planning. The quandary for parents is how to treat their children equally, even when the monetary amount that each child will receive is unequal. This is particularly prevalent in families that own a business and some but not all of the children have worked in it.  
Maintaining family...
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The difference between a Guardianship Order and a Trusteeship Order

guardianship trusteeship Apr 20, 2017

Many adults across Alberta are not in a position to make their own decisions regarding their personal and financial matters. In instances like these, the Adult Guardianship and Trusteeship Act (AGTA) permits family members and concerned parties to apply for a Guardianship or Trusteeship Order to ensure that their loved ones are not compromised or taken advantage of.

Because they both support the care and protection of a vulnerable loved one, Guardianship and Trusteeship Orders are often...

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The probate process and beneficiaries

executor probate Apr 12, 2017

Families, Estates, and What You Leave Behind

The hardship on individuals and families can be substantial upon the death of a loved one. When there are no known beneficiary designations of property and assets for passing onto beneficiaries or heirs, it can become difficult and emotionally taxing for successors to speculate at the deceased’s final wishes.

For this reason, when a person dies testate, (dies leaving a will) there is a legal process of settling a debts and distributing...

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What a Personal Care Directive can and cannot achieve

A personal care directive  (PCD) is a legal document that enables you to indicate how, why, and by whom your personal care decisions may be made in the event that you cannot make them on your own. In Alberta, your PCD is placed in your Green Sleeve, an advanced care planning document that conveys your wishes regarding medical, resuscitation, and comfort care to your doctors and other medical support staff.

Because a personal care directive is an estate planning document, there is some...

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The basics and process of probate

probate Mar 23, 2017

Every human must come to terms with the finite nature of life. One of the greatest hardships in one’s life is losing a loved one. When a family member passes away, there are often loose ends to be tied up. It can be surprising how much tape there is to cut through by the surviving members of the family. 

The paperwork and bureaucratic regulations regarding a personal trauma can feel as though it is adding insult to injury. For this reason, estate litigation and the grant of probate...

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