P: (587) 287-2913
E: [email protected]
P: (587) 287-2913
E: [email protected]
If you’ve ever wondered, “Do I really need a will?”, you’re not alone. Many Albertans, particularly young families and working professionals, tend to overlook the importance of creating a will. The reality, however, is straightforward—almost everyone can significantly benefit from having a legally valid will drafted by a professional.
A will is a legally binding document specifying exactly how you want your assets, property, finances, and other belongings distributed upon your passing. It allows you to clearly outline who inherits your assets, who should care for your children if you’re no longer around, and who will manage your estate (executor).
In Alberta, having a valid will is essential because it prevents your assets from being distributed according to default provincial intestacy laws—which can result in unintended outcomes, confusion, and family disputes.
1. Control Over Your Estate Distribution
Without a valid will, your estate distribution is handled by the Wills and Succession Act in Alberta. This default system rarely matches your personal wishes and can cause hardship and disputes for your loved ones. With a will, you explicitly state who receives specific items, properties, or sums of money, preventing uncertainty and disagreements.
2. Protecting Your Children & Naming Guardians
For parents, the primary benefit of having a will is appointing guardians for minor children. Without this directive clearly stated, courts make the final decision regarding guardianship—potentially leading to outcomes you wouldn’t have chosen. With a will, you choose guardians you trust explicitly, securing your children’s futures.
3. Reducing Stress and Conflict for Loved Ones
When your wishes aren’t documented, your loved ones are left guessing your intentions. This uncertainty often leads to significant stress, financial strain, and prolonged family conflicts. A professionally drafted will significantly reduces these challenges by providing clear instructions.
4. Simplifying the Probate Process
Your executor—often called a personal representative in Alberta—must manage your estate after death. Without a clear, valid will, their tasks become considerably more complex and costly. Probate—the legal validation of your will—can also become lengthy and complicated, causing unnecessary delays and increased legal costs.
You should strongly consider a professional will if you:
Own a home, rental property, or significant personal assets.
Are married, in a common-law relationship, or recently divorced.
Have children under 18.
Have specific wishes regarding your estate or possessions.
Own a business or professional practice.
Have investments, retirement accounts (RRSP, TFSA), or significant debts.
Want specific personal items to go to particular individuals.
Wish to leave assets to charity or specific organizations.
Have digital assets, like cryptocurrency, online accounts, or digital property.
If any of these conditions apply to you, having a legally valid will in Alberta isn’t just advisable—it’s essential.
One foundational step toward creating your will is clearly identifying and valuing your assets and liabilities.
Identify and Value Your Assets (Estate Inventory):
Make a comprehensive list of everything you own, including:
For each asset, clearly note:
Assess Your Debts and Liabilities:
List all outstanding debts and liabilities clearly:
Understanding your assets and liabilities gives you a clear snapshot of your net worth. This clarity is critical for drafting a precise, well-informed will.
Selecting the right executor (personal representative) is critical. This individual handles asset distribution, debt settlement, and probate proceedings. Consider someone who:
You trust implicitly and has excellent organizational skills.
Lives in or near Calgary for practical convenience.
Is likely to outlive you (generally younger or in good health).
Has sufficient time, capability, and financial awareness to fulfill responsibilities.
Remains neutral amidst family disagreements.
Is fully informed and comfortable accepting this significant role.
Discuss the role thoroughly with your potential executor and always appoint an alternate executor if your first choice is unable or unwilling to serve.
While online Alberta will kits or holographic (handwritten) wills may seem easy, they often lead to disputes, confusion, or even invalidation. Professional estate planning through Mobile Wills Calgary ensures:
Compliance with Alberta legal standards.
Proper witnessing and execution procedures.
Clear, specific instructions tailored to your exact wishes.
Avoidance of costly legal pitfalls or errors.
Reduced likelihood of family disputes or probate complications.
