Estate planning is not only for the elderly, the ultra-wealthy and business owners.
This sort of thinking could leave your loved ones in a predicament if something unexpected happens to you.
It is never too early to start estate planning – and most people need more than a simple will to cover their needs.
A few essential documents can help you ensure that assets end up where you intend and that your children, spouse, or other loved ones are properly cared for.
At Vest Estate Lawyers, our lawyers will help you create an executable estate plan that achieves all the things you intend for the future.
Learn More → Why should I hire an estate planning lawyer?
Without an estate plan, what would happen if you were either no longer around or became incapacitated through sickness or injury?
- Loved ones may need to navigate arduous court processes to get authorization to make decisions on your behalf if you are incapacitated
- You could be left without the end-of-life care you want
- The Alberta courts may assume you made no choices of beneficiaries and distribute your assets according to provincial law once you pass away
- You could end up paying excessive taxes on the assets you leave behind
- Your loved ones could be left wondering what you intended as they try to administer your estate
There are practical and emotional reasons for creating your estate plan as soon as possible. It is natural to want to protect loved ones, and nobody wants their assets consumed by unnecessary taxes. Or perhaps you want to leave a charitable legacy behind with a donation from your estate?
Nobody intends to leave a mess for those they leave behind. But it happens frequently. Families are left guessing and frequently in conflict about what to do.
The Alberta government now suggests that residents put in place at least a minimal estate plan to avoid potential problems.
We can help you do that with a few simple documents that save many potential headaches.