Calgary Wills Questions Answered by a Trusted Calgary Wills Lawyer - Part 2

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FAQ Questions of the Week
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FAQ 1
I own a company. Can I leave company assets to
people through my will?
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No. Company assets dont belong to you, they
belong to the company, which is considered a
legal person. As such, you cant will them to
anyone.
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However, if you own the company, you can will
shares in the company to your beneficiaries. In
many cases, the beneficiaries will chose to wind
down the company and disburse the assets amongst
them.
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FAQ 2
I am divorced. If I die, I want my child to live
with someone from my family. Can I state this in
my will?
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The answer to this is a complicated maybe.
Children arent property. Ultimately, courts
retain authority to determine guardianship based
on the best interests of the child.
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FAQ 3
Ive heard that probate is bad and that good
estate planning involves avoiding probate. Is
this true?
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To some degree, that depends on where you live.
Probate involves both financial costs and time
delays, but it is often difficult to avoid
entirely, and in many cases, steps taken to avoid
probate have their own costs as well.
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Does this FAQs helped you with your questions
about writing your wills?
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