Calgary Legal Wills FAQ Answered By Russ Weninger Calgary Legal Wills Lawyer
Are there any special considerations that go into estate planning for gay and lesbian couples?
Estate Planning Canada From a legal point of view in Alberta a gay or lesbian couple is the same as a heterosexual couple. A more relevant factor may be whether or not couple has children.
Joint Wills or Two Wills Some jurisdictions allow for joint wills. However, my practice is to prepare two wills, one for each spouse. I think joint wills have too many drawbacks. Since a joint will may be probated for the spouse who dies first, the second spouse would then likely have to do another will anyway.
I am considering purchasing property in the US. Is there something I should consider?
Purchasing Property in US Yes, purchasing US property may subject you to US estate tax. Also, if you live in the US for a significant period of time or acquire US citizenship, you may be subject to US estate tax. I would recommend speaking with a US tax lawyer before you consider purchasing US property, living in the US, or applying for US citizenship.
I have a young family. I know that I should provide for my spouse and children in my will. What happens if we all die at the same time, say in a car accident?
If Accident Occur It is a good idea to have a clause in your will that is sometimes morbidly referred to as a “wipe-out clause”. A wipe-out clause stipulates beneficiaries in the event that your immediate family members have all died. Typically, a wipe-out clause will leave assets to parents, siblings, and/or nieces and nephews. In some cases, wipe-out clauses will leave assets to friends or charities.
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