Here at KJF we understand that death can be a sensitive topic for some, BUT should you die without a Will (dying “intestate”), the Alberta Wills and Successions act will be the ones who determine how your estate shall be divided and the results of this might not be at all what you would have wished.
A Will is a legal document by which a person expresses their wishes as to how they would like their property & money to be distributed upon death, and this document names one or more persons, the executor(s), to manage the estate until its final distribution.
An Enduring Power of Attorney (EPA) is different from a Will- in that it comes into effect while you are still alive. It appoints a person(s) to make legal and financial decisions on your behalf if you become incapacitated. Without an Enduring Power of Attorney in place, the Adult Guardianship and Trusteeship Act applies and your family would need a Court Order for Trusteeship, which can be both stressful and extremely costly.
A Personal Directive (PD) is a document, under the Personal Directives Act, that allows you to name the person(s) you trust to make decisions on your behalf should you lose mental capacity (e.g., coma, alzheimer’s, dementia, ect.) and list the areas in which they have decision-making authority (e.g., health care & residential issues.)
Hopefully with this information you will begin to think about your estate, and should you have any further questions or wish to book an appointment Contact us today and we’ll help you create an iron-clad plan for your will and estate needs.