The Hidden Dangers of Online Wills

In today’s digital age, online wills may seem like a quick and cost-effective way to handle estate planning. With just a few clicks, you can create a document that claims to distribute your assets and protect your loved ones. However, these DIY wills often come with legal risks that can lead to costly disputes and delays.

A major issue with online wills is the lack of personalization. A will is not just about dividing assets—it’s about ensuring your loved ones are protected in all situations, such as blended families, minor children, dependent beneficiaries, or business ownership. Online will services rarely provide tailored advice or help you navigate important considerations like tax implications, executor responsibilities, or contingencies for unforeseen circumstances. What seems like a simple and affordable solution today could create serious costly problems for your family down the road.

Many people assume they have a straightforward estate, only to be surprised during an initial consultation with a lawyer of hidden complexities—like joint assets, beneficiary designations, or family dynamics—which can lead to unintended consequences. A professionally drafted will ensures that every detail is considered, significantly reducing the risk of legal challenges and ensuring your wishes are carried out exactly as intended.

Our estate planning services ensure that your will is properly executed, compliant with Alberta law, and structured to protect your assets and beneficiaries. Don’t leave your legacy to chance—contact us today to ensure your final wishes and estate are legally secure.

What is a Personal Directive?

A Personal Directive is a legal document in Alberta that allows you to appoint someone, known as an "agent," to make personal decisions on your behalf if you become mentally incapable of doing so.

This document covers non-financial matters such as health care, living arrangements, and other personal choices. It ensures that your wishes are followed in situations where you are unable to communicate or make decisions due to illness, injury, or cognitive decline.

A personal directive only takes effect when a medical professional (or your designated individual) determines that you no longer have the capacity to make your own decisions. Until that time, you remain in full control of your affairs.

Unlike a Will, which takes effect after death, a personal directive is specifically for situations where you are alive but incapacitated. It can include detailed instructions on medical treatments you would or would not want, where you would prefer to live, and who should advocate for your well-being.

Having a personal directive in place prevents the need for family members to apply for a court-appointed guardianship, which can be a costly and time-consuming process. It also gives you peace of mind knowing that someone you trust will be making decisions based on your values and preferences.

In Alberta, if you do not have a personal directive and become incapacitated, decisions about your personal care may be left to a government-appointed decision-maker under the Adult Guardianship and Trusteeship Act. By creating this document, you retain control over your future, even when you cannot speak for yourself.

If you are interested in creating a personal directive you can contact our team at Varsity Law.

What Is an Enduring Power of Attorney?

An Enduring Power of Attorney (EPA) is a legal document that allows you to appoint someone to manage your financial affairs if you become mentally incapable due to illness, injury, or aging. Unlike a general power of attorney, which becomes invalid if you lose capacity, an EPA remains in effect even if you are no longer able to make decisions for yourself. This ensures that your bills are paid, investments are managed, and other financial matters are handled without the need for court intervention.

In Alberta, an EPA can take effect either immediately upon signing or only when you are deemed incapacitated. You can choose a trusted family member, friend, or professional to act as your attorney, and you can outline specific powers they will have. Without an EPA in place, your loved ones may need to apply for a court-appointed trusteeship, which can be time-consuming and costly.

Having an EPA as part of your estate plan provides peace of mind, knowing that your finances will be managed according to your wishes if you become unable to do so. It is a crucial document for adults of all ages, not just seniors. If you want to learn more or need help drafting an EPA tailored to your needs, Varsity Law can assist you in ensuring your affairs are in order.

Spousal Trusts: Protecting Your Spouse and Preserving Your Legacy

A spousal trust can be a valuable estate planning tool in Alberta, particularly for individuals who want to provide for their spouses while preserving assets for future beneficiaries. It ensures that the surviving spouse still has financial security during their lifetime, with assets managed and protected by a trustee, reducing the risk of mismanagement or external claims.

This can be especially useful in blended families, where the goal is to support a current spouse while ensuring children from a previous marriage eventually inherit assets. Additionally, spousal trusts offer potential tax deferral benefits, as assets can transfer on a tax-deferred basis, delaying capital gains tax until the surviving spouse passes away.

If you want to explore whether a spousal trust is right for your estate plan, feel free to contact our law firm.

The Importance of Having a Will, Enduring Power of Attorney, and Personal Directive in Alberta.

Having a will, enduring power of attorney, and personal directive is crucial in Alberta to ensure your wishes are respected and your loved ones are protected. A will is a legal document that outlines how your assets should be distributed after your death. Without a will, Alberta's Wills and Succession Act will determine the distribution of your estate, which may not align with your intentions. This can lead to delays, increased legal costs, and potential disputes among family members. Additionally, a will allows you to appoint a guardian for your minor children, ensuring they are cared for by someone you trust.

An enduring power of attorney is essential for managing your financial affairs if you become mentally incapacitated. This legal document allows you to appoint someone you trust to make financial decisions on your behalf. Without an enduring power of attorney, your loved ones would need to apply to the court for the authority to manage your finances, which can be a lengthy and costly process. By having this document in place, you can ensure that your financial matters are handled smoothly and according to your wishes, even if you are unable to make decisions yourself.

A personal directive, also known as a living will, is important for making healthcare and personal decisions if you become incapable of doing so. This document allows you to appoint an agent to make decisions about your medical treatment, living arrangements, and other personal matters. Without a personal directive, your family may face difficult decisions without knowing your preferences, potentially leading to conflicts and stress. By having a personal directive, you can ensure that your healthcare wishes are respected and that your loved ones are not burdened with making these decisions during a challenging time.