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A will that is out of date could create more problems than it solves.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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I contacted Langford Financial to see if they could help me with specific questions on retirement & estate planning, efficient tax strategies, CPP and OAS benefits, and income drawdown strategies. I was very nervous at first about whether they would be a good fit for my needs, but my concerns were quickly put to rest and Willis and his team made me feel at ease right from the very first meeting.

They are very easy to work with, are very knowledgeable and resourceful, are able to break down complex matters into an easy-to-understand manner, and are always quick to respond to any questions. They reviewed my situation and were able to tailor a plan to fit my specific needs, to my complete satisfaction.

The plan included amongst other things, the best way to utilize efficient income tax strategies. helped me to understand the correct drawdown of assets which would result in larger savings, and provided guidance on insurance products and efficient estate planning.

As a result, I have a much clearer picture of my financial situation now and feel very confident and satisfied with the plan that they have proposed for me, going forward. What I appreciated the most about Willis and his team was that, in addition to their friendly, personable and professional approach, at no time was there ever any pressure to purchase any products.


I am very happy with the service I received from Willis and his team and would recommend Langford Financial to anyone looking for advice on their retirement planning needs. You will not be disappointed!

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Naila Jinnah
Fee-Only Planning Client

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