Wills
A will is a legal document that allows you to:
- direct how your property will be distributed after your death
- name your executor(s) or personal representative(s) who will represent your estate after your death and carry out the wishes you have stated in your will
- name a guardian for any children who are minors at the time of your death
What happens if I do not have a will when I die?
In Alberta, if you die without a will (or there is estate property which is not disposed of in the will), your estate will fall into what is called intestacy, and you will be referred to as the intestate. The Wills and Succession Act decides out how a person's estate will be distributed if they die intestate.
Types of Wills
There are different types of wills, each with certain formalities and requirements to make them valid.
A formal will:
A formal will:
- is in writing, has your signature
- is signed in the presence of 2 witnesses, who also sign the will in your presence
- is prepared entirely in your own handwriting and signed by you
Preparing a will
It is recommended that anyone interested in making a will consult a lawyer, who can help prepare your will. If you do not have a lawyer, you can contact the Law Society of Alberta’s Lawyer Referral service program at 1-800-661-1095.
Storing Your Will
The location of your original will is important. There is only one original will – the one that is signed by the willmaker and the witnesses. This original will should be safely guarded. If the original cannot be found, the law will presume that the willmaker intended to revoke the will. If an original will is destroyed in circumstances that clearly do not reflect the intention by the willmaker to revoke the will, a copy of the will may be admitted to Probate.
Here are some options for storing your will:
At Home, In a Safe
Some people prefer to keep their wills at home. It is a no-cost option, and your original will is easily accessible in case you wish to change it in a rush. However, your will can be damaged or destroyed in a fire or flood, or accidentally or intentionally destroyed by someone other than you. Be sure your executor(s) know the location of your safe and the passcode.
Safety Deposit Box
Most financial institutions have safety deposit boxes where you can keep your will. The benefit is that the original may only be retrieved by the Executor upon your death, protecting the original from alteration, destruction or removal. Safety deposit boxes have the added benefit of being housed in a more secure setting than your home and provide greater protection against destruction of the will in the event of a disaster. Keeping your will in a safety deposit box at your financial institution is preferable because your financial accounts are invariably examined upon your death in order to determine the extent of the Estate. During such preliminary investigations your will can be retrieved by your named Executor(s) in the will.
At your Lawyer’s Office
Your lawyer may be able to store your will at their office. However, not all lawyers have the facilities to keep original wills.
While storing your will at a law firm provides a degree of security, it may provide administrative problems for you and the law firm because:
Here are some options for storing your will:
At Home, In a Safe
Some people prefer to keep their wills at home. It is a no-cost option, and your original will is easily accessible in case you wish to change it in a rush. However, your will can be damaged or destroyed in a fire or flood, or accidentally or intentionally destroyed by someone other than you. Be sure your executor(s) know the location of your safe and the passcode.
Safety Deposit Box
Most financial institutions have safety deposit boxes where you can keep your will. The benefit is that the original may only be retrieved by the Executor upon your death, protecting the original from alteration, destruction or removal. Safety deposit boxes have the added benefit of being housed in a more secure setting than your home and provide greater protection against destruction of the will in the event of a disaster. Keeping your will in a safety deposit box at your financial institution is preferable because your financial accounts are invariably examined upon your death in order to determine the extent of the Estate. During such preliminary investigations your will can be retrieved by your named Executor(s) in the will.
At your Lawyer’s Office
Your lawyer may be able to store your will at their office. However, not all lawyers have the facilities to keep original wills.
While storing your will at a law firm provides a degree of security, it may provide administrative problems for you and the law firm because:
- the law firm may not survive you; or
- the drafting solicitor may not survive you; or
- the drafting solicitor may not be employed by the Firm at the time of your death; or
- you may die without revealing to anyone that your lawyer's firm held a copy of the will.