Why do you need an Estate Lawyer in Edmonton, Alberta

It is essential for each one of us to have a will, at some point or other, in order to ensure that one’s personal assets are distributed according to their wishes after the death.

What is a Will?

A will is a legally binding document, which contains the details regarding handling your assets after your death. In addition, a will may also be used to appoint a guardian to take care of children until they are “of age”.  If a Will is not made in time, it may create a lot of confusion for the family members after death. Moreover, this is maybe a cause of conflict as the assets would then be divided as per intestacy rules.

Learn more about the differences between the Power of Attorney and Directive Principles.

“ Intestacy is the condition of the estate of a person who dies without having made a valid will or other binding declaration. Alternatively, this may also apply where a will or declaration has been made, but only applies to part of the estate; the remaining estate forms the “intestate estate”. Intestacy law, also referred to as the law of descent and distribution, refers to the body of law (statutory and case law) that determines who is entitled to the property from the estate under the rules of inheritance.” – Wikipedia.

The person willing to create a Will is often referred to as Testator. A lawyer would ensure that the Testator is in a healthy physical and mental condition while he/she is drafting the will.

Also, it must be noted that a Will should be drafted as a part of estate planning and not strictly as per the statutory rules. It is always recommended to have a legal advice prior to having an estate planning. An experienced lawyer provides expert advice in all the matters related to family and estate planning. They can help you to create the most effective estate planning considering the financial, social & economic factors such as taxes, insurances, premiums, mortgages, debts, inflation of the family. Moreover, working with an Estate Lawyer will ensure that you can change or update the will if any of the rules of Wills and Succession Act changes.

Our experienced Estate Lawyers at Right Legal in Edmonton, Alberta help you create an effective Estate Plan.

The post Why do you need an Estate Lawyer in Edmonton, Alberta appeared first on Right Legal.