CALGARY LEGAL

WILLS FAQAnswered By Russ Weninger

Calgary Legal Wills Lawyer

Are there any special considerations that go into estate planning for gay and lesbian couples?

Estate Planning Canada

From a legal point of view in Alberta a gay or

lesbian couple is the same as a heterosexual

couple. A more relevant factor may be whether

or not couple has children.

With a husband and wife, would you prepare one joint will or two wills?

Some jurisdictions allow for joint wills. However, my practice is to prepare two wills, one for each spouse. I think joint wills have too many drawbacks. Since a joint will may be probated for the spouse who dies first, the second spouse would then likely have to do another will anyway.

Joint Wills or Two Wills

I am considering purchasing property in the US. Is there something I should consider?

Purchasing Property in US

Yes, purchasing US property may subject you to US

estate tax. Also, if you live in the US for a significant

period of time or acquire US citizenship, you may be

subject to US estate tax. I would recommend speaking

with a US tax lawyer before you consider purchasing

US property, living in the US, or applying for US

citizenship.

I have a young family. I know that I should provide for my spouse and children in my will. What happens if we all die at the same time, say in a car accident?

If Accident Occur

It is a good idea to have a clause in your will that is

sometimes morbidly referred to as a “wipe-out

clause”. A wipe-out clause stipulates beneficiaries in

the event that your immediate family members have

all died. Typically, a wipe-out clause will leave assets

to parents, siblings, and/or nieces and nephews. In

some cases, wipe-out clauses will leave assets to

friends or charities.

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