Alberta > Wills and Estates:When does a will take effect?A will does not take effect until you die. If you specify in your will that you leave certain property to someone — for example, a diamond bracelet to your sister or a lake lot to your brother — you may still dispose of that property during your lifetime. You may sell it or mortgage it or deal with it in any way you choose. If that item is no longer in your possession at the time of your death, then the will is interpreted as if that property did not exist. Of course, you may also change your will at any time.
July 1996 |
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