Estate planning is not a priority in people’s lives, mostly because dealing with it feels so stressful or unfamiliar. Making sure you have a solid, lawful plan will help you protect your possessions and ensure your choices are followed. You can get specific advice from a Wills & Estate Lawyer in Calgary, who is familiar with Alberta’s legal rules.
No matter if you’re moving into a home, becoming a parent or facing important life changes, you should reach out to a professional. They may write your will, organize your powers of attorney and help you sort out your estate plans so as to prevent troubles in the future. In this blog, we provide guidance on when it’s wise to consult a Wills & Estate Lawyer.
What Does a Wills & Estate Lawyer in Calgary Do?
A Wills & Estate Lawyer is important in advising you on handling your future and ensuring your assets are secure.
Estate lawyers can prepare a will showing how your property will be handled after your death, manage trusts for safeguarding assets, handle probate to prove the new owner of your estate and create powers of attorney for when you need trusted individuals to make your decisions.
Thanks to their knowledge, your estate is managed by the law, less likely to cause trouble and keeps your family finances safe.
Key services include:
- Drafting and updating wills
- Establishing trusts
- Probate assistance
- Setting up power of attorney
Key Life Events That Call for a Wills & Estate Lawyer in Calgary
- Marriage or Divorce
Your financial and legal duties usually shift when you get married or go through a divorce. You should talk to a Wills & Estate Lawyer in Calgary to adjust your beneficiary choices in your paperwork after you are married.
- Birth or Adoption of a Child
Adding a child to your family is a major change in your life. A Wills & Estate Lawyer in Calgary helps you arrange guardianship and write inheritance clauses to secure your child’s future.
- Purchasing Property or Business
Managing your property or business after acquiring it is important to plan ahead. Calgary Wills & Estate Lawyers can set up your assets correctly to prevent problems and ensure your funds are well looked after.
- Serious Illness or Diagnosis
When you have a serious illness, it becomes clear why advance directives and health care proxies are necessary. If you authorize a Will & Estate Lawyer in Calgary, they will help you draft your living will and power of attorney to ensure your medical care and financial actions are respected when you cannot make decisions yourself.
- Retirement or Major Financial Changes
When your financial circumstances change or you’re getting closer to retirement, it’s a good idea to review your estate. You can hire a Wills & Estate Lawyer in Calgary to update your plans to account for changes in tax laws and to distribute assets in ways that meet your needs now.
The Importance of Early Wills & Estate Planning
- Keep Harmony with Your Family
When you plan well in advance, misunderstandings among your family are more likely to be avoided and the chance to handle troubles with love and respect is greater.
- Reduce Taxes
If your estate plan is well structured, estate taxes will be reduced, helping your heirs keep more of what you have left and receive a larger part of your legacy.
- Ensure Your Wishes are Carried Out
If you make a will early, it will be legally protected and your final wishes will be accomplished without problems or delays.
- Stay Away from Major Errors that Hurt Your Company
If you do not prepare your estate plan in time, you can lose money and be stuck with papers that are no longer valid.
- Make the Probate Process Easier
When you prepare early and make useful documents, your family will have less trouble with probate, pay less for lawyers and experience fewer hassles during the process.
How to Choose the Right Wills & Estate Lawyer in Calgary?
Here are some of the easy steps by which you can effortlessly choose the right lawyer:
Step 1: Identify Your Needs
Check if you can benefit from getting help with wills, trusts or probate, so you can look for the right lawyer.
Step 2: Research Experience
Choose lawyers with expertise in wills & estate planning Calgary, who also know the laws in Alberta.
Step 3: Check Reputation
Check out what previous clients say and request recommendations for professional companies.
Step 4: Evaluate Communication
Find a lawyer who can describe difficult terms simply and respond fast to whatever questions you have.
Step 5: Consider OB Law Office
If you are looking for individual attention and confidence in estate planning, people suggest using offices like OB Law Office in Calgary.
Signs You Shouldn’t Delay Contacting a Lawyer
- You Haven’t Created a Will
If there is no will, provincial laws will determine who owns your assets when you die. Your wishes might not be followed and your family may experience difficulties with the paperwork involved. It can be valuable to have a lawyer write your will.
- You’ve Recently Married or Divorced
Anytime you experience a big life change like marriage or divorce, your estate documents need quick updates. Failing to review who benefits from your assets or accounts can lead to problems and unplanned outcomes.
- A Child Has Been Born or Adopted
When you become a parent, you should make sure guardians and inheritance decisions are clear. A lawyer makes sure your child is legally and financially safe if an emergency occurs.
- You’ve Bought a Property or Business
Buying a home or business has a big effect on how your estate plan is organised. You should rely on legal advice to arrange the transfer of ownership, plan succession and safeguard what you own for those who come after.
- You Have Been Diagnosed With Serious Illness
When a diagnosis is seriously needed, it becomes urgent to make a plan. Power of attorney and advanced medical directives provide a way for your wishes about money and health to be followed if you can’t state them personally.
Conclusion
Choosing the right lawyer for your estate matters will help ensure your wishes are met after you’re gone. Starting early and using a professional’s advice can help protect your assets and relieve your worries about the future.
Working with a reliable lawyer will help you handle the law and ensure your legacy is safe, no matter if you are updating your will or preparing a new one.