Can I show my personality in my Will?

Over the course of the last decade I have helped my clients write a wide variety of Wills. Some of them are touching and include letters to family members letting them know how much they loved them. Other Wills have included spiteful wishes.  One Will had a husband leave money to the person who had mowed his wife’s grass while he was out of town.   Another gentleman who loved scotch gave elaborate wishes for the type Read More

What Your Will Can and Cannot Do

An up-to-date Will is a key part of any effective estate plan. It accomplishes several important goals, allowing you to specify how your estate will be distributed, naming a guardian for any minor children.   It also prevents the time and expense of litigating your estate, protecting the inheritances of your loved ones and preventing a dispute from fracturing the family. WHAT YOU CAN DO IN YOUR WILL: You Can C Read More

Does Adoption Affect Inheritance in Alberta?

Most Wills state that the estate must be shared among the testators children. In many families, it’s obvious who the “children” are while in other families it is less so. An adopted child’s rights against a biological or adoptive  parent are very different under Alberta law. When an adoptive parent passes away, an adopted child has exactly the same legal status as a biological child born to that parent. When the Wi Read More

What happens if you parents owe money when they die

We recently had a client call our office asking a question we hear all the time... "What happens if my father dies owing more money than he has in assets? Will I be personal responsible for paying his debts if I am his Executor?" You will not be personally liable for your father’s debts when he dies. You may however, be taking on a difficult estate where you will be required to negotiate with creditors and p Read More

Capital Gains and Your Estate

We have clients call our office all the time asking "I hear everyone talking about Capital Gains. What is it and what happens when I die?" A capital gain is the increase in value of your capital property. Capital property is an investment or other asset that produces income, or an asset that if sold would produce a profit for you. The federal government currently taxes Capital Gains by you declaring 50% of the Read More