Best Private Client Lawyers in Calgary

About Private Client Law in Calgary, Canada

Private Client law in Calgary, Canada focuses on providing legal services to individuals and families regarding personal assets, estates, and related legal matters. This area of law includes estate planning, wills and trusts, powers of attorney, incapacity planning, probate, estate administration, and taxation of estates. The goal of Private Client law is to help people safeguard their wealth, ensure their wishes are respected, and make the legal process smoother for their loved ones. Calgary, being in Alberta, is governed by both provincial and federal laws that affect how these matters are handled.

Why You May Need a Lawyer

There are several situations where you might need a lawyer specializing in Private Client law in Calgary. Common scenarios include:

• Drafting or updating a will to determine how your assets will be distributed after your passing
• Setting up trusts for minor children or dependents, or for tax and estate planning purposes
• Creating a power of attorney or personal directive to appoint someone to make financial or health decisions if you are incapacitated
• Administering an estate as an executor, including navigating probate and asset distribution
• Applying for guardianship or trusteeship for adults who cannot manage their own affairs
• Addressing disputes regarding wills, estates, or the actions of executors and trustees
• Planning to minimize estate taxes and avoid unintended legal complications for your heirs

Local Laws Overview

In Calgary, Private Client law is primarily governed by provincial legislation in Alberta. Important laws include the Wills and Succession Act, which dictates how estates are distributed if there is no valid will, and how wills should be drafted to be legally valid. The Estate Administration Act outlines the duties of executors during estate settlement. Powers of Attorney and Personal Directives are covered under the Personal Directives Act and the Powers of Attorney Act. Alberta also recognizes both probate and non-probate transfers, and there are unique rules for family members, common-law partners, and dependent children.

Taxation issues are influenced by both federal and provincial tax laws, including the Income Tax Act (Canada). It is important to comply with all legal requirements, as errors can result in delays, increased costs, and family disputes.

Frequently Asked Questions

What is probate, and do all estates in Calgary require it?

Probate is the legal process of validating a will and appointing an executor to administer the deceased's estate. Not all estates require probate. If assets are jointly held or have named beneficiaries, probate may not be needed. However, many financial institutions require probate for significant assets.

What happens if someone dies without a will in Calgary?

If an individual dies without a will (intestate), the estate is distributed according to Alberta's Wills and Succession Act. The law sets out a specific order for distribution among surviving spouses, children, and other relatives.

How do I create a valid will in Calgary?

A valid will in Calgary must be in writing, signed by the testator (the person making the will), and witnessed by two individuals who are not beneficiaries or the spouse of a beneficiary. Holograph wills (handwritten and signed by the testator) are also valid.

What is a power of attorney, and why should I have one?

A power of attorney is a legal document that appoints someone to manage your financial affairs if you become unable to do so yourself. It is important for incapacity planning and often complements other planning documents like wills and personal directives.

Can I change my will after I have signed it?

Yes, you can update your will at any time as long as you are mentally capable. Changes must meet legal requirements, such as preparing a new will or adding a formally executed codicil (an amendment).

Do common-law partners have the same inheritance rights as married spouses in Alberta?

Common-law partners, known in Alberta as Adult Interdependent Partners, have similar rights as married spouses for inheritance if they meet certain criteria, including cohabitation for at least three years or having a child together.

What is a personal directive?

A personal directive is a legal document in Alberta allowing you to appoint someone to make personal and health care decisions for you if you become unable to do so. It only comes into effect when you lose capacity.

Who is responsible for paying estate taxes in Alberta?

Alberta does not have a provincial estate or inheritance tax. However, the estate may need to pay income tax returns (final returns, and certain taxes on registered assets) under federal laws. Executors must ensure these are settled before distributing assets.

Can family members dispute a will in Calgary?

Yes, family members can contest a will in certain circumstances, such as concerns about undue influence, lack of capacity, or improper execution. Dependent spouses or children can also apply for maintenance and support if they feel insufficiently provided for.

How long does estate administration usually take in Calgary?

Estate administration timeframes vary depending on complexity, the need for probate, payment of debts, and resolving any disputes. Simple estates can close in several months, but more complex ones may take a year or longer.

Additional Resources

Several resources and organizations can help those seeking legal advice in Private Client matters in Calgary:

• The Law Society of Alberta - provides lawyer referrals and public legal information
• Alberta Courts - offers information on probate and estate administration
• Public Legal Education (PLEA Alberta) - educational resources on wills, estates, and incapacity planning
• Service Alberta - for registering documents like personal directives and powers of attorney
• The Canadian Bar Association Alberta Branch - public resources and lawyer directories

Next Steps

If you believe you need legal advice or services related to Private Client matters in Calgary, consider the following steps:

• Take stock of your current situation and gather any relevant documents, such as existing wills, financial statements, or powers of attorney
• Decide on your goals, such as ensuring the financial security of your beneficiaries or resolving a dispute
• Contact a local lawyer who specializes in wills, estates, and incapacity planning for an initial consultation
• Prepare your questions in advance and be ready to discuss both your assets and your wishes
• Follow through on your lawyer's advice regarding the preparation or review of legal documents, and make regular updates as your life circumstances change

Seeking legal advice early on can help you avoid problems later and give you and your loved ones peace of mind.