Writing a will? Time to update a will? We can help

Most people are aware that they need a Will. But they are not so sure about the timing. “I still meet a lot of people who think a Will is for people who are much older than themselves because that is when people usually die” explains Edmonton estate lawyer Belal Najmeddine. “They just assume they are not going to die when they are young, but the sad truth is that bad things can happen at any time.”

“Then there are the people who mistakenly think Wills are only for rich people. I tell them the need for a Will has nothing to do with how many assets you own, it is about ensuring that your wishes are followed when those assets are distributed following your death.”

See where you stand by reviewing the following checklist:

• I know the difference between estate planning and estate administration
• I have a legally enforceable Will in a safe place
• I know my Will should be updated whenever there is a big change in my life (divorce, a death of a loved one, business sale)
• I know how to minimize probate fees
• I understand that estate planning often includes tax planning
• I know what happens if some of my assets are held outside of Alberta
• I understand why some people include a Personal Directive or Enduring Power of Attorney in their estate plan
• I know what happens if a person dies without a Will

If we have raised even one issue that you had not considered before, now is the time to request your free introductory estate planning consultation. “Estate planning is not about what you think is going to happen,” explains Mr. Najmeddine. “It is about considering what could happen. Those are two very different things.”