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When is the right time to write a Will? Hint: right now

Home // Wills and Estates Law

Most people assume a Will is unnecessary until they have children or have accumulated significant wealth. Ask them why and you will usually get one of these responses:

Edmonton Wills and estate lawyer Andrew Geisterfer, a trusted planner of trusts, wills and estates for estates & trust administration & planning in Edmonton Alberta.

Most people over estimate the cost of having a Will done by a Wills & Estates lawyer– and severely under estimate the consequences of not having a Will.

  • I will have to make some difficult decisions I would rather avoid
  • Only old people need a Will
  • Having a Will done by a lawyer is expensive
  • I don’t have the time
  • I can to the Will myself

Now let’s look at what Andrew says about each answer:

It forces me to make decisions I don’t want to make

Andrew’s answer: Having no Will means someone else will make decisions about your estate. Having a Will means you make the decisions. They may be tough decisions, but they are your decisions and that is always the better alternative.

Only old people need a Will

Andrew’s answer: Age is not the issue. You should focus instead on the assets in your estate. If they have value and you care about how they are distributed following your death, it’s time to get a Will done.

Having a Will done by a lawyer is expensive

Andrew’s answer: Not having a Will can lead to unnecessary costs that far exceed anything you spend on your Will. Moreover, the absence of a Will typically means that it takes much longer to execute the transfer of assets. Put simply, you are making the distribution of your assets much more difficult than it needs to be.

I don’t have time

Andrew’s answer: What’s more important than the assets you have accumulated in a lifetime? Not much. So go ahead and schedule a meeting with your lawyer to discuss your Will. It’s time well spent.

I can do the Will myself

Andrew’s answer: Only a trained legal professional with years of experience handling Wills and Estates knows how to set up a Will that ensures your intentions are followed. If you miss just one consideration, the distribution of your assets could be much different than you wished.

Legal Scenario

Real Property Report

"I am buying a house in Alberta. The seller has asked me to accept a Real Property Report even though it does not include recently added features, including a new fence, a new shed and a new deck."

What Would Andrew Recommend?

Don’t accept any unknowns. Call your lawyer and have him/her explain to you the importance of having a complete and up-to-date Real Property Report. You should also know that the buyer’s bank will generally require that the real estate buyer has full compliance with all the governing authority’s bylaws and regulations. Remember: if it is not in writing, it is not legal.

Meet Andrew Geisterfer Edmonton Real Estate Lawyer

Andrew Geisterfer

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