We define a codicil as a legal document that is used to modify an existing will without completely replacing it. This document allows you to make minor changes to your will, such as adding or removing beneficiaries, changing the personal representative, or updating asset distributions. When is a Codicil Used? …
A sensible estate plan is crucial to ensure a smooth and uneventful transition of your assets to your beneficiaries. While estate planning need not be overly complicated, here are some items that should be thoughtfully considered in consultation with a lawyer, tax accountant or financial advisor. Tip: Perhaps this is …
Our office frequently meets with clients to review their estate planning strategies, only to find that they have already taken significant “DIY” steps based on a magazine article or an online blog – often from another jurisdiction – or even the advice of a well-meaning but mis-informed friend. Not all …
There is a common misconception that Alberta estates, and estates in Canada generally, are subject to an “estate tax” based on the total value of the estate, as in the United States. This is not correct; however, Alberta estates are often face a significant tax liability depending on the nature …
Naming an Executor (also known as ‘Personal Representative’ or ‘Trustee’) of your Will would seem to be a fairly non-controversial issue and in most cases it is. Typically, a testator will name their spouse in the first instance, with one or more of their children as alternates. Problems can arise …
In Alberta, the owner of all real property (i.e. real estate) must be registered with the Land Titles Office. The property can be owned as either joint tenants or tenants in common. Joint tenancy is most commonly seen for residential homeowners. Joint tenants are equal owners of the property. If …
Finally, fifteen years after the death of “The Godfather of Soul”, James Brown, his estate has been settled. As with other celebrities such as Aretha Franklin and Prince, who died without a coherent estate plan or a will, expensive and time-consuming litigation has been a hall-mark of the James Brown …
The concept of murder for profit is a consistent theme in real life and fictional pop culture. But can someone who has caused another person’s death also take a benefit from that person’s estate? According to the Slayer Rule, the answer in most instances is no, but there is a …
In the aftermath of separation most former spouses focus on issues such as parenting plans, child or spousal support and division of family assets. Often overlooked is making changes to your estate plan after separation, including changing the designations of your now former spouse as Executor in your Will, Attorney …
This is a question that frequently arises in client consultations, particularly with respect to clients who have children with addiction issues or from whom they have become estranged. The simple answer is “maybe and maybe not”. The complicated answer is that the Alberta courts have long promoted the principle of giving effect …
