UNews - Kristin Ailsby-Wood

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trevor.kenney — Wed, 06 Feb 2013 22:20:30 +0000

If getting a will seems like a daunting, confusing process, you're not alone. However, preparing your estate can be as simple as spending a short time planning and meeting with your lawyer. Kristin Ailsby-Wood (BA '96), a lawyer with Davidson & Williams Barristers and Solicitors in Lethbridge and a member of the U of L Planned Giving Advisory Committee, demystifies the process with the answers to a few common questions:

Q: What information do I need to provide?
A: Too often, people think they need lists of assets, bank account numbers and financial statements before they move forward with making a will. Ailsby-Wood notes that misconception actually prevents people from beginning what is a very simple process.
"People think they need to do so much work before they go see their lawyer. That perception prevents them from going to see a lawyer in the first place. In actuality, will planning starts with three simple details: what you own, how you own it and what you hope to achieve with your will.

"Many clients often think they need to bring lists of accounts, addresses, details about their investments and tax-related information. While this information is helpful, it's not required. I'd rather my clients prepare for the first meeting by talking with their spouse and their families about what is important to them and why. In your initial lawyer consultation, you lawyer will discuss what you want to achieve and how that aligns with what you own. A perfect plan is not necessary before making an appointment to see a lawyer. Let us help organize your thoughts and create that plan."

Q: Do I even need a lawyer to prepare a will?
A: The short answer? No. But, Ailsby-Wood issues a caution about self-prepared wills or on-line legal will kits.
"We have found that when people prepare their own will, things hardly ever go smoothly after they pass away. The clients' intentions are sometimes very unclear and the estate is typically difficult to administer. Working with a lawyer will ensure you understand what a will does and how it affects what you own or don't own. A lawyer will also ensure that all of the formal requirements are satisfied."

Q: What can I expect at the first meeting with my lawyer?
A: "Expect your lawyer to review what you own, how you own it and how your death will or will not affect it. First meetings are typically about information sharing – your lawyer learns their clients' goals and the clients learn about their legal obligations and the effect a will has on their different kinds of assets. Lawyers will typically walk their clients through decisions like choosing an executor, choosing a guardian and they'll identify important factors that might not be on the top of their client's minds, but that could affect their will (ie: former spouses, blended families, assets outside of the jurisdiction).
By the end of the meeting, you'll have a clear picture of the shape your will will take and you'll be in a position to make any decisions you hadn't prior to the meeting."

Q: What if I want to leave a gift to charity in addition to ensuring my family is cared for in my will?
A: Philanthropy is a powerful way to ensure you leave a legacy after your death. Legacy gifting is one way to ensure your will not only reflects your desire to leave your family in good care, but also reinforces your passions and goals. Ailsby-Wood notes a will should be a balance of priorities. And, most importantly, don't shelve the idea of legacy gifting because your estate is not significant.

"A lot of people think they don't have enough to give. No matter how large or modest a person's estate is, the will doesn't have to be all family and no philanthropy. There are ways that lawyers and other professional advisors can help their clients achieve both. A well-structure estate plan can give people more philanthropic power than they knew they had. It can be very satisfying."

Q: How do I choose the right person for executor and guardian?
A: "An executor will carry out the terms of your will. People often think they need to choose an executor with a great deal of financial savvy, but that's not so. Look for three key characteristics in an executor: honesty, availability and common sense. Choose someone you trust to understand your directions and carry them out. A guardian will serve as decision-maker for your underage children. If you have underage children, you should look for a person who will focus on the best interests of your children and meet each child's emotional and financial needs."

Q: How do I decide who gets what in my will?
A: "There are legal obligations that affect how you can delegate the proceeds of your estate. A lawyer will help clarify what those obligations are and how they impact distribution of the estate."

Q: When should I update my will?

A: "If you've experienced a big life change, it's probably time to update your will. Things like marriage, having children or grandchildren, retirement and significant changes in your assets are all occasions to check with your lawyer whether any will changes are necessary."

Q: Is drafting a will expensive?
A: Don't let the cost of a will be a deterrent to getting one. Ailsby-Wood notes many lawyers not only charge reasonable fees, but are willing to offer payment plans or other arrangements to ease any financial burden.
"A will is an invaluable document which not only affords you peace of mind that your family will be cared for after your death, it ensures a simple and straight-forward process for those dealing with your estate."

Q: What are the benefits of a will?
A: "First and foremost, a will provides peace of mind – the assurance that the family you love will be provided for once you're gone. People work hard to generate wealth, as well as family and community connections, and a will enables people to share that wealth – and their priorities – with those they love. A will makes good sense by helping avoid various negative tax consequences, gives structure and certainty to your plans, and ensures the decisions you've made will be honoured at your life's end."

Wood leads School of Graduate studies into future

trevor.kenney — Fri, 23 Sep 2011 21:06:52 +0000

His colleagues may have seen an administrative future for Dr. Robert Wood but the dean of the School of Graduate Studies (SGS) didn't necessarily buy into their forecast. In fact, given Wood hadn't even planned on being an educator when he started his post-secondary career, that he's now the dean of a key strategic directive seems even more unlikely.

"I had no aspirations whatsoever to do any admin work until about three or four years ago," laughs Wood, who is now in his 12th year at the
U of L. "So I certainly didn't see myself in this role at that time."

Originally from Leicester, UK, Wood has been in Canada since he was a young boy, growing up largely in Edmonton, where he first studied and earned a bachelor's degree in sociology. He entertained the notion of law school but was too enamored with the study of sociology to leave it behind. A master's degree at the ��Ѹ��Դ��߿�Ƭ of Toronto, followed by a PhD back at the ��Ѹ��Դ��߿�Ƭ of Alberta, paved the way for his career as an academic.

"For me an academic career was an unplanned outcome, but it has been an immensely positive part of my life," says Wood.

Dr. Robert Wood with his wife Kristin Ailsby-Wood and daughter Georgia.

Wood's early years at the U of L were focused on establishing a research portfolio and igniting a passion for sociology in his undergraduate students. By 2005-06 he'd begun to involve himself at the committee level throughout the ��Ѹ��Դ��߿�Ƭ.

"I actually found the chance to have some strategic input into the direction and priorities of the institution to be quite exciting," says Wood. "For me it's all about creating momentum and I saw those committee settings as an opportunity to do that."

Over the next three or four years Wood says he really connected with the committee service aspect of his job and the idea of a future in administration. His move into the area of graduate studies was natural, having been active as a graduate student supervisor and serving on a number of graduate education committees.

He now finds himself on the cusp of a whole new era for graduate studies. The SGS has its own dedicated space in Anderson Hall and it has been identified as a key strategic directive as the ��Ѹ��Դ��߿�Ƭ further establishes itself as a comprehensive institution.

"When I came here in 2000, the key message was that we were an undergraduate university," says Wood. "As a new faculty member, I got the sense that grad studies was a bit of an add-on to what we were really all about, which was undergraduate education. A lot of that has changed now because today it's really a central component of not only how we see ourselves as an institution but where we see ourselves going forward."

Wood will play a key role as graduate studies continue to evolve. While much progress has been made, there are many areas that need to be addressed in order to truly advance the SGS.

"I would like to see the program areas and faculties properly synchronized and co-ordinated with respect to the resourcing, administration and delivery of graduate education," says Wood. "I also want to emphasize the importance of quality. Not only enhancing the quality of the programs that we offer, but also enhancing the quality of the overall experience of graduate education on this campus."

Wood is fully invested in his role as dean, meaning he's had to put his research ambitions and teaching responsibilities on the back burner. While he is in the midst of co-editing a book on Internet gambling that is due out in February 2012, teaching is out of the question.

"If you take an administrative job, it definitely impacts your ability to prosper as a researcher. I'm still actively engaged as a researcher but the dean's job takes priority," says Wood. "I do miss the classroom though. Teaching was probably my favourite part of the job as a professor. I love being around undergraduate students and I love teaching in the classroom. I just love the dynamic interaction and really do miss it."

He has a bigger picture focus now, one the ��Ѹ��Դ��߿�Ƭ sees as a priority and one where the U of L is beginning to garner a reputation for excellence.

"While we're still relatively small as a graduate school, we're becoming more and more recognized for many key strengths," says Wood. "I think where we're really being noticed on the national terrain is with the very unique multi-disciplinary programs we have, especially at the PhD level. People are certainly taking notice and I think that will continue as we continue to expand the range of PhD majors that we offer at the U of L."

GET THE FACTS

• Wood is married to alumna Kristin Ailsby-Wood (BA '96, MA, LLB), a family lawyer at Davidson & Williams, and they have a five-year-old daughter, Georgia. He took a year of parental leave in 2006.

• An avid fisherman, Wood tries to find time to fish for walleye, on the Oldman River, in the Grassy Lake area.

• Wood has authored or co-authored a number of peer-reviewed articles and books on youth culture and the various aspects of problem gambling.

• Wood's family originally emigrated from the UK to Grande Cache, Alta.

This story first appeared in the September issue of the Legend. For a look at the Legend in a flipbook format, follow this link.

UNews - Kristin Ailsby-Wood

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Wood leads School of Graduate studies into future

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