Estate Planning Lawyers in Calgary

 

Estate planning is about deciding what happens to your property, finances, and personal affairs both during your lifetime and after your death.

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Stonetree Law helps individuals and families in Calgary and throughout Alberta prepare practical estate plans built around three core documents: a Will, Enduring Power of Attorney, and Personal Directive.

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We also advise on testamentary trusts, blended families, minor children, business interests, real estate, and other circumstances requiring more detailed planning.

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Wills

A Will sets out how your estate is to be administered after your death.

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A properly prepared Will can:

• name the person who will administer your estate;

• direct how your property is distributed;

• create trusts for children or other beneficiaries;

• address the timing of inheritances;

• nominate a guardian for minor children;

• make specific gifts;

• address business or corporate interests; and

• provide instructions for the administration of your estate.

 

Without a valid Will, your estate will generally be distributed according to Alberta's intestacy legislation rather than according to instructions chosen by you.

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A Will should reflect your family circumstances, assets, obligations, and objectives rather than simply follow a standard template.

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Enduring Powers of Attorney

An Enduring Power of Attorney allows you to appoint someone you trust to deal with your financial and legal affairs.

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Depending on how the document is drafted, the authority may begin immediately or arise when a specified event occurs, such as loss of capacity.

 

Your attorney may be given authority to deal with matters such as:

• banking and investments;

• payment of expenses;

• real estate;

• contracts;

• tax matters;

• business interests; and

• other financial and legal affairs.

 

An Enduring Power of Attorney continues to operate despite a later loss of capacity.

Without one, a family member or other person may need to seek a court-appointed trusteeship if you become unable to manage your financial affairs.

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Personal Directives

A Personal Directive addresses personal decisions if you become unable to make those decisions yourself.

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It allows you to appoint an agent to make decisions concerning matters such as:

• health care and medical treatment;

• where you live;

• personal care;

• education and activities; and

• other non-financial personal decisions.

 

A Personal Directive can also record instructions and wishes that you want your agent to consider.

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Your Will deals with your estate after death. Your Enduring Power of Attorney and Personal Directive are primarily concerned with what happens while you are alive if you are unable to make decisions for yourself.

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A complete estate plan should consider all three.

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Estate Planning for Families

Estate planning becomes particularly important when family circumstances are more complex.

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We assist clients who:

• have minor children;

• are part of a blended family;

• are married or in an adult interdependent relationship;

• are separated or divorced;

• have children from previous relationships;

• wish to provide differently for particular beneficiaries;

• are concerned about a beneficiary's ability to manage an inheritance; or

• want to establish trusts for children or other family members.

 

Clear planning can reduce uncertainty and help avoid disputes after death.

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Estate Planning for Business Owners and Professionals

Business ownership can create additional estate-planning considerations.

An estate plan may need to account for:

• shares in a privately held corporation;

• partnerships or other business interests;

• shareholder agreements;

• succession arrangements;

• business liabilities;

• jointly held assets; and

• the relationship between personal and corporate planning.

 

Where appropriate, estate planning should be coordinated with the client's accountant, financial advisor, insurance professional, or other advisors.

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When Should You Review Your Estate Plan?

An estate plan should not simply be prepared and forgotten.

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You should consider reviewing your Will, Enduring Power of Attorney, and Personal Directive following significant changes such as:

• marriage or a new relationship;

• separation or divorce;

• the birth or adoption of a child;

• the death or incapacity of an executor, attorney, agent, or beneficiary;

• acquiring or selling significant property;

• starting, buying, or selling a business;

• a significant change in financial circumstances; or

• a substantial change in your wishes or family relationships.

 

Even without a major life event, periodically reviewing an older estate plan can help ensure it still reflects your circumstances and intentions.

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Practical Estate Planning in Alberta

Estate planning does not need to be complicated.

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For many clients, the objective is straightforward: choose the right people to act, provide clear instructions, protect children and beneficiaries, and reduce uncertainty for family members.

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For clients with more complex assets or family arrangements, careful planning can help identify issues before they become estate administration or estate litigation problems.

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Stonetree Law provides estate planning advice tailored to the client's family, assets, and objectives rather than relying on a one-size-fits-all approach.

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Speak With a Calgary Estate Planning Lawyer

Whether you are preparing your first estate plan, updating older documents, planning for children or a blended family, or dealing with business and property interests, Stonetree Law can help.

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We prepare Wills, Enduring Powers of Attorney, Personal Directives, and related estate planning documents for clients in Calgary and throughout Alberta.

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Book an Estate Planning Consultation