Wills & Estates
CREATING A COMPREHENSIVE ESTATE PLAN IS AN ACT OF LOVE
A comprehensive estate plan is as much for those you love as it is for yourself. If you have worked hard and accumulated any assets at all over the course of your life, an estate plan will assure that those assets are passed to your loved ones in the manner you wish. Estate plans are not solely for those with a substantial net worth. Simply put, if you have people in your life whom you love, you should have an estate plan.
At Byron & Company, in Fort McMurray, we help individuals create comprehensive estate plans that reflect their lives and the people they love. Because every estate plan is a reflection of the person it is for, each one is unique. At the very least, however, every estate plan should include these components:
- A will that provides instructions on how your assets should be distributed upon your death. The person you select to administer your will is known as the executor. We assist executors in estate administration.
- A power of attorney gives a person whom you select the authority to manage your financial and other personal matters such as paying bills and filing taxes if you become incapacitated. The person you select to have power of attorney is known as your agent.
- A personal directive or "living will" (also referred to as health care power of attorney) provides someone whom you trust the authority to make decisions regarding medical care and life-sustaining measures that should be taken if you are unable to make those decisions for yourself.