Journal

Estate planning is not a one-time event. It should evolve as your life and financial circumstances change.

For entrepreneurs and small business owners, estate planning must go beyond a simple will.

Estate planning is one of the most important steps you can take to protect your family, preserve your wealth, and ensure your wishes are respected. Yet many Albertans delay putting a plan in place, often believing it is only necessary later in life or for those with significant assets. In reality, estate planning is about clarity, protection, and peace of mind — regardless of age or net worth.

Being named an executor — legally called a personal representative in Alberta — is an important responsibility. If someone has passed away and you have been appointed under their Will, you are responsible for administering the estate in accordance with Alberta law.

Closing day is an exciting milestone in any Alberta real estate purchase. Once funds are transferred, keys are released, and the transfer documents are submitted for registration, you officially become a homeowner. But your responsibilities do not end at closing.

Many condo owners in Alberta assume that because they pay monthly condo fees, they are fully covered under the condominium corporation’s insurance policy. Unfortunately, that assumption can lead to significant financial exposure.