WILLS & ESTATES
Thinking about the time when you will no longer be with your loved ones or able to direct your own care overwhelms many people. The wills and estate lawyers in Edmonton at Haryett & Company understand how weighty and important your final decisions are. We also understand how preparing the proper legal documents to protect your personal property and family’s financial well-being can bring peace of mind. A clear and legal will ensures that after your death specific gifts for loved ones and your estate are distributed according to your wishes. Your estate includes:
A Will Is the Cornerstone of Estate Planning
The essential legal tools for effectively planning for possible incapacity and inevitable death are a will, powers of attorney, and personal directives. Your will not only specifies how you want your financial assets dispersed, but you can also use it to designate guardianship of your minor children in the event of your death. Your will should also specify the person or persons you want to administer your estate. If you die without a will, your estate may not be distributed as you would want but will be divided according to the Wills & Succession Act that covers people who have died intestate.
Executing and Updating Your Will
Assure yourself that your will clearly directs the distribution of your estate to family, friends, or organizations as you wish. Wills and estates lawyers at our Edmonton office can guide you through the process according to your individual needs and the required procedures. If your financial or family situation changes, you do not have to execute a completely new will to make updates with a codicil, a document containing a record of the changes and additions you are making. You should update your will for many reasons, including:
Powers of Attorney
One of the planning tools you might need is the power of attorney, which is used while you are living but are not able to understand or take care of your estate or daily financial decisions. Our wills and estates lawyers clearly inform our clients about the conditions that trigger a power of attorney and the effects it has, including:
Preparing for a time when you might be incapacitated by age, illness, or accident affords you a measure of control and peace of mind. Much like the power of attorney, your personal directives gives a trusted relative, loved one, or authority the right to make decisions about your medical and personal care if you cannot speak for yourself. Your personal directive can also contain instructions for actions you want taken for end-of-life care, medical treatment for illness or injury with no hope of recovery, and decisions about organ donation.