3 Reasons Why You Need A Will and The Most Affordable Place to get one

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Calgary Financial Advisor

We are not Lawyers, but we firmly believe that a Will is the foundation to a solid Financial Plan.

We have been searching for sometime for a Lawyer that is willing to offer their service to the general public at a very reasonable cost. We have now found that Lawyer. 

One of the barriers for many people for not having a will is the perceived cost of the process. When we meet with first time clients one of the very first questions we ask is if they have an updated will. Surprisingly, most people do not. Here are the 3 big reasons why you need a will.

1.) Can save a great deal of time, expense and stress for your family and loved ones during a time of grief.

A properly prepared estate plan, including a will, allows you to direct where your property will go after your death.

A will is a legal document that details how your property will be distributed after your death. It also allows you to name your personal representative who will represent your estate after your death and carry out the wishes you have stated in your will. A will also allows you to name a guardian for any children who are minors at the time of your death.

An estate plan, including a will, can save a great deal of time, expense and stress for your family and loved ones during a time of grief.

 

2.) Keep Your Life up to Date.

A will that is out of date could create more problems than it solves. Laws change, personal and financial circumstances change, and new developments arise with respect to financial resources and estate planning. For instance, the wishes written down by a single person could change dramatically if they were to marry and have children. Acquiring or selling property could also change what you want to happen after your death.

It is a good idea to review your will with your lawyer on a regular basis to make sure it does what you want it to do.

3.) Personal Directives and Enduring Powers of Attorney

In addition to a will, it is important to think about what you would want to happen if you were no longer able to make personal or financial decisions before you die. Whereas a will comes into effect on your death, a Personal Directive or Enduring Power of Attorney can ensure your wishes are followed while you are still alive but unable to make decisions (e.g. due to an illness or injury).

  Personal Directive

A Personal Directive allows you to name a decision maker and/or provide written instructions to be followed when, due to             illness or injury, you no longer have the capacity to make personal decisions such as where you will live or the medical treatment you will receive.

  Enduring Power of Attorney

An Enduring Power of Attorney allows you to appoint someone to make financial and legal decisions on your behalf. It is a good idea to consult with a lawyer to discuss your estate plan to ensure you have the appropriate documents in place to protect you and your property.

Some life changing events require a revisit of your Will. Marriage or second marriage. Buying or selling a business. Divorce. Dependent children. Change of wishes. Health status change. Foriegn property ownership. Citizenship change. Burial requests. Common Law relationship with children from different relationships. Life Insurance proceeds.

 

Our Recommendation:

Lydia Lytwyn

Direct: (403) 930-0881

llytwyn@gfslaw.ca

Click for Prices

Learn more about our planning services.

 

Fee-only Retirement Income & Investment Planning

Willis J Langford BA, MA, CFP

Nancy R Langford CRS

 
 

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If you are nearing retirement, newly retired, or well into that stage of life and need some honest, reliable financial advice and tax planning services, I highly recommend Willis and Nancy Langford at Langford Financial. I have been working with them since the fall of 2020 and am really happy I made the switch.

I needed much better advice than I was getting from my new bank rep as I was actively preparing for retirement. I found Langford Financial online and booked a review meeting. I was happy that I was sent a complete list of all the information that would be needed prior to my initial meeting so I arrived prepared.

From that initial meeting, I decided to have Willis prepare a retirement plan for me. After we reviewed everything he had prepared, I felt much more confident in what was to come financially during retirement and how I could manage it. That's when I decided to transfer my investment portfolio from my bank to Langford Financial so they could manage it with and for me. I felt they really had my best interests at heart.

It was a pleasant surprise that their approach combined both income planning for retirement and tax planning for both the immediate future and well into retirement. This has proven to be very helpful as it has ended up saving me a lot of money (a lot!) by using credits that had been missed by the company I previously used to prepare my taxes.

I really like working with Willis and Nancy. They are very quick to answer any questions I have and can accommodate virtual or in-person meetings based on what is needed. They also produce a regular newsletter that I really enjoy. It has lots of tips in it and some very good in-depth information that helps me make better decisions---or at least ask better questions!

Moving to Langford Financial was a great decision for me. It has lead to better financial planning and decision-making and much greater peace of mind for me at this time of life.
 
 
 
Sharon Stroick
Full Service Client Since 2020

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