Corcoran Law & Mediation Centre are Experienced Lawyers in Calgary for Wills & Estates
Everyone should plan for their future – young, old, modest, and wealthy alike. If you are at least 18 years old, it is advisable to have a Last Will & Testament, Personal Directive, and Enduring Power of Attorney.
Last Will & Testament
Having a Will in place allows you to retain control over how your estate is managed and administered after your death. An estate refers to the assets and property an individual leaves behind. Under a Will, among others, the following determinations are made:
Appointment of Personal Representative
A personal representative (a.k.a. executor / executrix / trustee) is an individual whom you appoint to be in charge of carrying out your wishes as outlined in your Will. You will want to appoint an alternate personal representative in the event that the first personal representative predeceases you or is unwilling to act as such.
Disposition & Administration of Estate
A key element with respect to the disposition of your estate under your Will, is the identification of beneficiaries to whom you wish to leave specific assets, for instance, money, personal effects (e.g. heirlooms), or investments. Your beneficiaries may include friends, family, or charitable organizations. Contemplate the depreciation of assets when outlining your gifts given that the value of certain assets may have decreased significantly by the time of your death.
It is important to keep in mind that property held under a joint tenancy will not be disposed in accordance with your Will, notwithstanding your expressed wishes. Instead, the right of survivorship operates upon your death such that your ownership interest in the property is automatically transferred to the surviving co-tenant(s).
Couples often choose to own property under a joint tenancy for the automatic transfer of ownership, or avoidance of probate applications and taxes upon their partner’s death; however, given that your stake under a joint tenancy cannot be passed under your Will, consider effecting severance of a joint tenancy in the event that your relationship breaks down.
You can also use your Will to specify your wishes with respect to payment of outstanding debts, funeral and burial arrangements, appointment of a guardian to care for any minor children, and to set up trusts for minor beneficiaries, pets, spouses, and more.
Remember, the estate of an individual who dies without a Will is administered in accordance with the law, which may not reconcile with your wishes. If the disposition of your estate is effected pursuant to the Wills and Succession Act, the beneficiary who inherits any remaining interest you have in your property at the time of your death may not be the beneficiary to whom you want your property to be distributed.
Our team has extensive experience drafting Wills in accordance with provincial law. Allow us to help relieve the burden on your loved ones during a time of grief, and ensure your last wishes are followed. Review our Flat Fee Services page and contact our office to draft and execute a simple Will for a flat fee.
Already have a Will?
If you already have a Will, you may nonetheless benefit from having it reviewed by a lawyer. Our team can review your Will to confirm that disposition and administration of your estate is outlined in accordance with your wishes, and to ensure that your Will satisfies all formalities and requirements to be legally enforceable.
You have the ability to amend or revoke your Will at any time. It is important to review your Will on a regular basis in order to avoid complications. Review is especially advisable after major life events like marriage, separation, divorce, or the birth of a child. You will want your Will to reflect your objectives as they change over time based on your personal and financial circumstances at respective life stages. Remember, although your Will is automatically revoked upon marriage, your Will is not automatically revoked after you separate or divorce.
We advise updating your will under the guidance of a lawyer in order to mitigate concerns if the Will is contested in the future. To this end, Corcoran Law can either make amendments to your existing Will by way of a codicil (an addition to your Will that explains, modifies or revokes a Will or part of a Will), or draft a new Will for you at reasonable expense.
Personal Directive
A Personal Directive (a.k.a. living will) is a voluntary legal document executed by yourself, which confirms that a specific individual (agent) has the legal authority to make personal decisions for you in the event that you no longer have the capacity to do so, as a result of illness or injury. An agent’s decision-making authority is customizable and outlined by you in the document.
Examples of personal decisions:
- medical treatments which you would or would not want
- where you would like to live
- who you would like to live with
- who will care for your minor children
- which activities you engage in (recreation, employment, education, etc.)
- any other personal and legal decisions
Without a Personal Directive in place, if you lose your mental capacity to make decisions on your behalf, you would not be able to appoint an agent. Any individual seeking the legal right to make decisions on your behalf would have to file a court application for a guardianship order, after which the Court renders their decision on the appointment.
Our team can meet with you to discuss your options under a Personal Directive to ensure that your personal life decisions are vested in an agent you appoint and trust. Review our Flat Fee Services page and contact our office to draft and execute a Personal Directive for a flat fee.
Powers of Attorney
A Power of Attorney (POA) is a legal document that gives an individual (agent) the same legal authority as you would have to handle your financial and estate affairs. This individual must act in your best interests, and so long as they act within the bounds of the authority you have provided, you are bound by their decisions. A POA must be signed in the presence of a witness.
There are 3 types of Powers of Attorney:
- General POA: This is the least restrictive type of POA. This type of POA would be used in the event that you wish to give your agent broad authority to handle all of your financial affairs. A general POA terminates if you lose mental capacity – use an enduring POA should you want your agent’s authority to persist after you lose your mental capacity.
- Special POA: This type of POA is used to provide limited powers. It is generally executed to provide your agent the authority to act on your behalf for one specific purpose, for instance, to effect the sale of your house, or to manage specific assets while you are away on vacation.
- Enduring POA: This is the only type of POA which survives your mental incapacity. Your agent’s authority under this POA will continue after you have lost the mental capacity to make decisions. If you do not have an executed enduring POA, a concerned individual may apply to the Court for an order appointing them as a trustee to handle your financial and estate matters. The Court will make a determination based on number of factors including the suitability of the proposed trustee.
There are 3 ways in which a POA is terminated:
- After you have provided written notice to your agent stating that the POA has been revoked
- At such time as you lose your mental capacity (unless an enduring POA is in place)
- Upon your death
Review our Flat Fee Services page and contact our office to draft and execute the appropriate POA that suits your specific needs and circumstances, for a flat fee.
Grant Applications
In the event that you find yourself involved in estate litigation, presented with no existing Will or presented with a contested Will, Corcoran Law can help you navigate this unfamiliar territory by evaluating your legal options and implementing a litigation plan in line with your objectives.
Grant of Probate
If an individual executed a living Will, then the personal representative in charge of administering the testator’s estate may submit an application for a Grant of Probate – a court order that confirms that the Will is valid, and confirms the appointment of the personal representative named in the Will. A grant of probate is not always necessary, but it may be required by a financial institution prior to their release of the testator’s assets, or if a challenge has or may be advanced against the validity of the Will.
Contact our team to facilitate completion of the numerous probate forms and to submit your application for a grant of probate efficiently and cost-effectively, so that you may proceed to carry out your role as a personal representative under the Will.
Grant of Administration
A Grant of Administration is court order that appoints an Administrator, and confirms that the estate can be distributed to the people who inherit the estate of an intestate person (someone who died without an existing Will). This type of grant is necessary if there is no Will, or the Will is invalid because it does not meet the legal requirements for a Will and it has not been declared to be valid by the Court. Until the Court issues a grant of administration, no individual has the authority to deal with the deceased’s estate.
The Estate Administration Act sets out who may submit an application for a grant of administration based on a prioritized list of individuals. 1 to 3 individuals may be appointed as the Administrator, however preference is given to Alberta residents, and in the event that there is equal priority, the court can be asked to render a decision.
Corcoran Law has experience handling probate and estate administration applications. Contact our office to facilitate completion of the numerous probate forms, to challenge the validity of a Will, or to discuss your priority with respect to submitting a grant of administration. Our team will guide you through court procedures and help you find peace of mind.
Please see our Billing & Flat Fees page for our flat fees.