Free Community Event, June 7, 2017 – Your Will. Events that trigger the need to make (or review) your will
posted in: Firm News + Our Community + Wills and Estate Planning
When to make a will
It is generally recommended that you consider making or updating your will when major life events occur. For example, life events that trigger the need to make or update your will include:
- an impending marriage,
- the birth of your children,
- when you are approaching retirement,
- catastrophic injury to a family member for whom you need to provide,
- a separation or divorce,
- when children move out of the house.
Each of these events can have significant effect on how you wish to deal with their assets if you pass away.
Why making a will and keeping it up-to-date is a good idea
There are still many people who don’t think about a will, or think that getting a will is not worth the time, effort, and expense. However, it is often the case that having a will can save your surviving loved ones significant amounts of money. More importantly, a will that clearly spells out your wishes often helps preserve family unity and fosters good relationships after your passing.
It is (sadly) surprising how a parent’s death, without a will, can lead to disputes that grow into bad feelings and contempt between beneficiaries who are often siblings. Further, if you die without a will, you need to be aware that the Alberta Wills and Succession Act applies and you effectively forfeit any say over who gets your assets. Many people are (unhappily) surprised to learn what the default distribution of assets is under the Wills and Succession Act.
Free Public Seminar on Making Your will
Want to learn more about the why’s and how’s of making a Will? Mark your calendar for June 7, 2017 @ 6:30pm and join Cam Smith, KMSC’s Student-at-law, who will team up with the Grande Pairie Council for Lifelong Learning to present a FREE workshop on making a will.
Details and Registration
For details and how to register, visit the Grande Prairie Council for Lifelong Learning Facebook Event page.
In addition to answering your questions, Cam will discuss three important estate planning documents:
- the Enduring Power of Attorney,
- the Personal Directive (Living Will), and
- the Last Will and Testament.
Together these three documents are designed to provide you with comfort and peace of mind that your affairs will be handled in an efficient manner and in accordance to your wishes. Cam will also include a brief overview of the administration of an estate.
We look forward to seeing you there!