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Calgary Legal Wills Question - Wipe-Out Clause

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Calgary Legal Wills Question - Wipe-Out Clause

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  1. Calgary Legal Wills Question: 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?

  2. Answer: It is a good idea to have a clause in your will that is sometimes morbidly referred to as a “wipe-out clause”.

  3. A wipe-out clause stipulates beneficiaries in the event that your immediate family members have all died.

  4. Typically, a wipe-out clause will leave assets to: • Parents • Siblings • Nieces • and, Nephews

  5. And in some cases, wipe-out clauses will leave assets to friends or charities.

  6. http://www.calgarylegalwills.com/faqs Visit:

  7. Call us today! • (403) 265-4496

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