Calgary Legal Wills Question - Wipe-Out Clause

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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? Answer: 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. Know more about Calgary legal wills related issues by visiting http://www.calgarylegalwills.com or call Calgary will lawyer Russ Weninger at 403-265-4496 today.