Must reading about Wills & Estates planning

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Whether you are writing a Will for the first time or need legal advice to update an existing Will, the lawyers at Der Nguyen can help.  "There is more involved in Estate Planning than you might think, such as considering what happens if things change with your beneficiaries," explains Richard Der.  "Life rarely unravels exactly as we expect.  "There are unexpected births, sudden deaths, changes in marital status, a business can start or go bankrupt.  "All these possibilities need to be addressed in your Will."

Six things you may not know about Estate planning

1. Your assets don't just include the things you can see and touch, such as your home.  It's also important to consider your retirement plan, insurance and university for your children.  Then there are new-age digital assets, such as web businesses, that were not even mentioned in Wills prior to the invention of the internet.
2. Some of the most important planning addresses what happens before you die.   Learn more by asking us about the purpose and value of a Living Will.
3. Incomplete or out-of-date Wills are subject to challenge in the courts, which could lead to judgements or orders that are contrary to what you intended.
4. Estate law varies from province to province and your Will needs to take into account those differences if you have assets outside of Alberta.
5. Most Wills should be updated every five years or whenever you have done one of the following: bought or sold a property; change in marital status; bought or sold a business; significant change in health.
   

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