People in Alberta will no doubt agree that many important events occur at different times in their lives. Some of those are anticipated are planned for, while others happen without proper plans being in place. When it comes to wills and estates, plans are drafted for those events that are anticipated, and occasional reviews and modifications are done to address circumstances that were not part of the plans during the original development.
Estate planning should not be seen as a one-time event, nor is it something to only consider when a person is older. Anyone who earns an income and owns any assets can start with basic estate planning at a young age. Accidents can happen at any age, and although most people do not like to consider death or disabling injuries at a young age, it might be smart to get the plans in place and then review them when significant events occur.
Life events that have legal and financial impacts include a common law partnership or marriage or a divorce or separation of the owner of the estate plan. Birth and adoptions might need addressing, and relocation to another territory or province will have legal ramifications. People’s wishes and priorities also change, and some changes might be required to accommodate those changes.
Some people might consider establishing wills and estates but find the prospect daunting. An experienced estate planning lawyer in Calgary with extensive knowledge of applicable Alberta laws can simplify the process. A lawyer can assess the unique circumstances of each client and provide the necessary support and guidance not only with the initial drafting but also with regular reviews to keep the documents current.
