Estate and Financial Planning
New Brighton T2Z 1G9 Calgary, AB, Canada
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Locality: Calgary, Alberta
Phone: +1 403-589-6796
Address: New Brighton T2Z 1G9 Calgary, AB, Canada
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Some basic information and definitions: Wills A will is a revocable instrument by which an individual disposes of his or her property to take effect after their death. This document allows the person creating the will, called the testator/testatrix, to decide how his or her assets are to be distributed upon their death.... Through a will, the testator/testatrix chooses the individual who will act as the personal representative of his or her estate. The personal representative takes legal ownership of the assets of the testator’s estate, with a fiduciary duty to distribute the assets of the testator/testatrix in accordance with the directions set out in the will and to act in the best interests of the beneficiaries of the estate. In the will, the testator/testatrix makes provision for the distribution of his or her estate to named beneficiaries. A will also allows the testator/testatrix to establish a testamentary trust for his or her beneficiaries including but not limited to minor children. Moreover, a will allows for the naming of a guardian of minor or dependent children. Enduring Power of Attorney An Enduring Power of Attorney is a document whereby an individual (the Donor) can name a person or persons to act on their behalf to manage their financial affairs while the Donor is alive. This document may either come into effect immediately or may spring into effect upon the mental incapacity or infirmity of the Donor. The Enduring Power of Attorney will remain in effect upon the Donor losing their capacity. Personal Directive Under a Personal Directive an individual, called the Maker, may authorize a person or persons to make decisions regarding a personal matter upon the Maker losing the capacity to make these decisions for themselves. A personal matter includes health care; accommodation; determining the persons with whom the person may live and associate; participation in social, educational and employment activities; legal matters; and any other matter prescribed by the regulations to the Personal Directives Act.
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Well said......so simple, i love it https://www.ted.com//curtis_wall_street_carroll_how_i_lear
Next week is "Make a Will Week" in BC. Something to think about in all the provinces https://www2.gov.bc.ca//dea/wills-estates/make-a-will-week
Is a handwritten will legal in Canada? The entire Will must be in the handwriting of the testator; a typed Will with testator's signature is not accepted as a legal holographic Will. Alberta is one of the provinces in Canada that recognizes handwritten Wills. Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick and Newfoundland are the other provinces.
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