If my estate is not big enough to cover my debts, will my beneficiaries be responsible for paying these debts?
FAQ about Wills, Enduring Powers of Attorney and Personal Directives
Put another way by the beneficiaries, the question goes like this: If a parent dies and leaves a substantial amount of debt, and the amount of the estate is not enough to cover the debt, will I be saddled with it?
What Compensation should I give in my Will to my personal representative? Is the compensation I give to a personal representative taxable income for him or her?
We conducted a very successful seminar in Athabasca this past weekend about estate planning: Wills, Enduring Powers of Attorney and Personal Directives. Local Accountant Glenn Martin of Martin Romanchuk also came to speak about some tax considerations in estate planning.
What is a Joint Tenancy in regard to land? How can it be severed? Can it be severed by a Will?
In Alberta, there is no set amount of compensation or remuneration that must be given to a personal representative or personal representatives to administer an estate after death. In most situations, a personal representative can expect to be reimbursed for any reasonable out-of-pocket expenses, including mileage, associated with administering the estate.
10 Things to Know about a Real Estate Transaction
There are two types of ownership of land. Knowing how property is described on title is very important in understanding how that property passes on death.
A “tenancy in common” is a type of ownership in which each owner holds a particular share or interest in the property.
January: The Month for Divorce
Although real estate is a year-round business, typically most homes are bought and sold during the spring and summer months. As the warmer weather approaches, we thought we would provide you with a list of things you should know if you are contemplating buying or selling in the near future.
In recent years, January has been nicknamed “Divorce Month” in legal circles. According to an article on CHCH-TV website, experts say there are 25% more divorces started in that month than any other. Why is it this month is more popular than any other?
Why I Advocate for Mediation
If you are planning to incorporate a company, and need to arrange some contracts in advance, under the Alberta Business Corporations Act, you are able to act as an agent for a pre-incorporated company and enter into pre-incorporation contracts.
Personal Injury Claims
Not too long ago, a mediator called me to ask if I would be open to a referral from her. She had a matrimonial client who had reached a mediated agreement with a spouse and was looking for a lawyer to help finalize that agreement. “Not very many lawyers will take on work from a mediator,” she stated. I cannot comment on whether or not family law lawyers are reluctant to work with mediators or mediated agreements. However, I do know why I really do appreciate referrals from mediators.
Duties of the Personal Representative of an Estate
It’s What We Do!
At Quantz Law we assist clients in maximizing their claim for personal injuries sustained by individuals in wrongful tort claims. These “damages” arise when a person has been injured through the fault or negligence of another person under tort law. The liability for an injury might rest with several parties and it is important to contact us immediately after the injury is sustained to ensure all responsible parties are included in your claim.
Things to Consider When Incorporating Your Company
A personal representative of the Estate must act in fairness to and for the advantage of all those benefiting from the Estate. This mandate is not simply restricted to those who are named in a Will as a beneficiary, but also extends to creditors who have a claim against the Estate for debts owed.
What is Civil Litigation?
You can be proactive from the start by considering how you want your business to be set up. If you need advice, our experienced team will help you make and execute these business decisions.
New Wills Legislation
When I was growing up, the kids in our elementary school would resolve their disputes by going to the local cemetery to duke it out. The cemetery was close enough to the school to make it worth the trip for spectators, yet far enough away to be outside of the teacher’s purview. Some adults still resolve their disputes this way, meeting at the “cemetery” to settle the score. In elementary, we called it a “fight, fight, fight.” As adults, we call it “assault,” a criminal offence.
The New Wills and Succession Act, RSA 2010, c. W-12.2 replaces the Wills Act, the Intestate Succession Act, and several other Acts. The Wills and Succession Act introduces significant changes to the law of Wills.