Buying a fresh property is a big undertaking. With thousands of dollars at stake, it’s vital that you obtain the right legal advise to ensure you have all the information necessary to protect your investment. Tiffen Law Office provides a complete real estate law solution.
Ask questions before signing the purchase agreement:
Make the sale contingent on:
An executor, or personal representative is named in the will to be the person who ensures that the deceased’s wishes are carried out
The executor is responsible for things like gathering all of the assets of the deceased, paying the taxes, distributing specific gifts to beneficiaries, and transferring the money in the estate to the beneficiary
Normally if married each person names their spouse and then an alternate is a family member or child (depending on their age)
Discuss your wishes regarding burial and who gets what with family while you are alive. It is important that family knows what you want down when you pass away, as grief affects everyone differently and they may not react the same way in grief as they do normally
Burial wishes are not put in wills as a will is not usually read until after a funeral.
Beneficiaries – who gets your assets upon your death
Typically people choose a spouse then children if a spouse has predeceased them
A guardian is the person(s) who is going to raise your child(ren) and care for them
Minor children also need a trustee – who manages the money left to the minor children
The guardian and trustee can be the same person or they can be different people.
If they are different people ensure that they are individuals who know each other
Consider how disputes between them will be settled – who has ultimate decision making power
If children are under 18 – what can the money be used for while they are under 18
At what age do you want your child(ren) to receive the money coming to them from the estate?
Tornado clause – who gets your money if there is no surviving spouse, children or grandchildren?
Do your siblings get the money? Your parents?
Charity?
Other
PREPARING FOR A MEETING
The lawyer’s job is to determine:
If the value of your estate is over $500,000 then consult a tax account, tax lawyer and wills & estates lawyer to ensure that your estate planning meets your goals. There will be more complex tax considerations for a larger estate than for a smaller estate.
What To Do In A Car Accident
Visit this website for more detailed information: http://www.edmontonpolice.ca/TrafficVehicles/TrafficCollisions/ReportACollision.aspx
Once at a safe location:
IF INJURED IN A CAR ACCIDENT
Edmonton, Stony Plain & Surrounding Areas
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