Don't Leave Your Estate to Chance

A will is a legal document that reflects your end-of-life wishes and values, and it can provide peace of mind and clarity for yourself and your loved ones. Having a will is important because it allows you to decide who will be charged with managing your estate (your executor), such as overseeing your liabilities, who may take care of minor children and who will inherit your assets. A will can also help you avoid or reduce taxes, fees, and conflicts among your family members or other beneficiaries. If you die without a will, the law will determine how your estate will be distributed, which may not match your preferences or expectations. Furthermore, dying without a will can cause delays, expenses, and stress for your survivors, who may have to deal with legal procedures and disputes. Therefore, having a will is a responsible and compassionate way to plan ahead and protect your legacy. You can even take things one step further and include funeral preplanning in your will to eliminate guesswork and guilt for your family, with your last wishes being clearly defined, and your funeral investment protected from inflation.



"Having a will is a responsible and compassionate way to plan ahead and protect your legacy."

Park Memorial recently added Licensed Preneed and Aftercare Specialist Sarah Kucharski to our team of funeral professionals. Her role is to make the aftercare process of completing forms, applications, and closing a loved one’s estate a little easier; she walks beside each of our families to assist with these tasks after the funeral; she comes to us with almost 20 years of experience. Park Memorial is a full-service funeral home; Sarah’s care is included in our professional services to each family that we care for. 

We took some time to interview Sarah about the importance of having a will: 

Q: Where do you start with families with regards to discussions about wills? 

A: I will generally ask a family: Do you have a will? Do you understand the importance behind having a will? 

Whether the answers are yes or no, we then discuss that there are three types of wills available to residents of Alberta: 

1. A holographic will which you create yourself, must be 100% in your own handwriting, and must be dated and signed as a legal binding will. 

2. A secondary option is a will kit that you would obtain at your local bookstore or registries office. It's a do-it-yourself will kit that has pre-typed information on the page, along with blank areas for you to add your own specific written information. These types of wills require two witnesses to sign at the same time that you, the testator, sign it. 

3. Thirdly, you have the option of having a will that's created through a law firm. If you feel that there could be any issues or that someone may contest the will due to being a blended family or having difficult family dynamics, or if there are businesses owned or a more complicated estate to settle, it is wise to seek out legal advice and have a will written with the assistance of a lawyer.

"Dying without a will can lead to crippling financial burden for your loved ones left behind: they will need to apply for and await a Grant of Administration before they can sell your home, vehicles, etc, and must keep paying for the accompanying insurances, taxes, and utilities for these assets until it is granted."

Q: What are the risks in dying without a will? 

A: Dying without a will may lead to complication, confusion, and delays. A lot of people believe that a will is only about leaving tangible or financial things behind; that's only one piece of a will. Equally as important is that a will names someone to be left in charge - the executor – of your estate. The executor is the person who can go to the bank and close the bank account when it's ready to be closed, can sell your home, car, or other assets, and has sole decision-making capacity with regards to your assets and liabilities. Having that person in charge is critically important; without an executor, families could be held up in court to obtain a Grant of Administration. I've actually had personal experience with this: my mother-in-law passed away intestate (meaning she did not have a will) and it took almost 11 months to obtain a Grant of Administration. This meant that for the duration of that 11-month time frame, we had to carry the expenses of two households (mortgage, insurance, property taxes, car payments, utilities, etc.) as we couldn't dissolve any of those pieces of the estate until we had that one important piece of paper from the King’s Bench stating that we could administer the estate. This was difficult for us, and for most families, this creates crippling financial burden. 

Q: At what age / stage of life do you need a will? 

A: There are a lot of people who are under the false impression that you only need to have a will once you have a mortgage, investments, and / or children. But the reality is that everyone who is over the age of 18 and is considered a legal adult in the province of Alberta should have a will: kids will go into university and obtain student loans that will need to be cared for, there may be car loans, and potentially RESP’s or RRSP’s to deal with. We never want to think about losing a loved one so young, but preparedness that starts at a young age leads to better preparedness through adult life. Canadians should actually go through about four to five will revisions in a lifetime to reflect their changes in assets, liabilities, and dependents; yet the reality is that of the number of Canadians who even have a will, half of those have only created the one, unchanged, original version of their will. 

Your will is not only a legal document, but also a way to express your wishes and care for your loved ones so that their days and months after your passing can be spent without guilt or worrying about decisions made, as well as additional financial burden. 

PLEASE NOTE: The information provided in this post is for general information and educational purposes only and does not constitute legal advice or an opinion on any issue. Park Memorial is not a legal entity nor expert in wills, but seeks to provide timely, empathetic and valuable information regarding wills for the community that we serve. You should always consult a qualified legal professional before making any decisions or taking any actions related to your estate planning. Park Memorial disclaims any liability for any loss or damage arising from your use of or reliance on this information.

To read more about Park Memorial’s Aftercare Program, please click here.

To read more about choosing an Executor, please click here.