An Alberta court can order a constructive trust to right a wrong that led to one party being financially abandoned, abused or taken advantage of by another party. Although such an order can be issued in family court, it also forms part of estate planning under certain circumstances. When the court finds that one party lawfully owes the other party specific property, it can order that the obligated party hold the property in a constructive trust for the other party.
The trauma of losing a loved one could be exacerbated if it becomes clear that someone who expected to be a beneficiary is disinherited. Anyone in Alberta who is in such a situation will want to retain legal counsel at the first opportunity. Once the will is probated and assets are distributed, it might be too late to file a claim contesting it.
Some people in Alberta shy away from thoughts about their own and their spouses' deaths. However, dealing with wills and estates in a timely manner can provide peace of mind. Losing a spouse is understandably traumatic, though having estate plans in place can ease the financial and emotional impact of such a loss.
Estate law in Alberta can be contentious and complicated. The stakes can be high, and in some cases, a will can lead to bitter disputes. When the testator chooses to impose conditions on gifts or bequests, he or she might risk the will, or specific conditions of the will, being declared invalid.
Albertans often shy away from thoughts of their own mortality, but it is never too soon to consider estate planning. As soon as an individual starts earning an income, it is advisable to draft a will. A will is just one aspect of estate planning.
Many people in Alberta feel uncomfortable discussing or even considering their own mortality. However, those who die without establishing wills and estates could make life very difficult for the surviving loved ones. Estate planning can give directions about how to distribute a person's assets after his or her death.
Estate planning as an Alberta business owner is significantly more complex than dealing only with personal assets. Wills, trusts and other estate planning documents of business owners should also cover their business assets. Dealing with large estates, tax issues and business succession will likely complicate the process. The business owner may be unsure of whether to seek legal counsel, and looking at specific questions might provide the answer.
Many Albertans might consider do-it-yourself kits when they decide it is time to address estate planning. The amount of money they can save by finding cheap -- or even free -- offers to draft wills online is often the primary consideration for choosing to proceed without legal counsel. However, the slightest mistake can ultimately result in a will being declared invalid, and it is therefore not surprising that the DIY kits typically have disclaimers that seek to absolve the entity that offers the service of any responsibility for errors and omissions.
Many people in Alberta do not realize the importance of estate planning, and those who do might not realize that estate plans do not only serve a purpose after the death of the testator. While wills and estates might record the testator's wishes for distributing assets after death, there are ways to protect his or her interests in the event of incapacitation. Establishing powers of attorney can protect a person who becomes unable to handle financial and medical matters.
Technological development has changed how most people in Alberta and across Canada navigate their daily lives, including their finances. Goods are ordered and paid for online and dealing with bills, bank accounts and more are done on smartphones, laptops and PCs. This has also brought about changes in the way wills and estates are handled.