The Importance of Estate Planning in Alberta
At Verhaeghe Law Office – our Edmonton estate administration lawyers always advise our clients to have a proper estate plan regardless of how old or young you are. While estate planning for someone in their 20s may differ from someone in their 30’s or 40’s – the sooner you have an estate plan in place, the better. Our estate lawyers can provide many estate planning solutions regardless of how small or large and complex your estate needs may be. Our lawyers will begin by gaining a thorough and detailed understanding of your estate as well as your individual needs and goals. After undertaking this phase – our lawyers will present you with many options to help accomplish your estate goals. For some individuals – the thought of succession planning after death can be a very uncomfortable and daunting task. But estate planning is very important for many reasons which we’ll explain here.
Why is Estate Planning So Important?
Having a plan in place is always better than not having a plan. One of the primary benefits of estate planning is that it leaves your loved ones with less burden after you pass on because every aspect of your estate plan will be clearly outlined in a legal document. A lawyer may provide in-depth advice on matters such as:
- Cottage property and other investment property succession
- Establishing trusts
- Minimizing probate and estate taxes
- Charitable planning
- Power of attorney for personal care and other financial related matters
- Maximizing life insurance and other insurance policies in an estate plan
- Providing for beneficiaries with special needs
- Providing for dependants
- Complex will planning
- Business succession planning
- Retirement Planning
- Incapacity Planning
- High-net worth estate planning
- Financial incapacity planning
- Investment planning
- And more
While disputes may still arise even if there is a will present – having a detailed estate plan may minimize the chances for conflict down the road if a lawyer has done it properly. An estate lawyer will also ensure that your last wishes will be carried out in the most effective, pragmatic and cost-efficient way possible. At Verhaeghe Law Office – our estate planning lawyers can also assist with domestic, cross-border and multijurisdictional trust and estate legal advice. We understand that all clients have different needs – and that’s why our lawyers will come up with a custom estate solution for you based on your individual needs.
Contact our Edmonton Estate Planning Lawyers Today
If you or a loved on are in need of legal advice regarding estate planning – contact our Edmonton estate planning lawyers today. Our estate planning lawyers can represent Albertans with all their estate planning needs. Our law firm has three offices – making it easier to serve our clients with an office in Edmonton, Athabasca and St. Albert. Book a consultation with our legal team today and let us put our experience to work for you.
Disclaimer: If you are in need of specific legal advice regarding estate planning please consult with a lawyer for specific legal advice. Our article here is intended to act as a general overview on a legal topic and not as individual legal advice.