FAQ on Wills Answered by a Trusted Calgary Legal Wills Lawyer - Part 8

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FAQ Question of the Week Wills
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FAQ1
If I die without a will, does the government get
everything?
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This is a popular misconception. If you die
intestate (without a will) legislation will
dictate where your assets will go. Usually,
assets go to a spouse and/or close relatives such
as children, parents, siblings, etc. Intestate
legislation varies from province to province, and
from country to country.
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That being said, while intestate legislation may
change from time to time, a will makes your
wishes explicit. A will also has the advantage of
stipulating who your executor will be, and that
will save your loved ones needless grief and
legal costs.
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FAQ2
I dont have any significant assets yet, and am
unmarried. Is it important for me to have a will?
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Yes. People often do wills after they acquire
wealth, but sometimes they dont get around to
it. Also, you should keep in mind that you may
leave behind a substantial estate if you die due
to the negligence of another person, even if you
died poor or in debt.
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FAQ3
What is more important, a will or life insurance?
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They are both important. Life insurance may be
more important for a young person with a young
family, but a will is still useful for
stipulating guardianship of children.
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As you get older, you may not even qualify for
life insurance. At that point, having a will is
of upmost importance. As a rule of thumb, for
most of your life, you should have both a will
and life insurance.
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Let Russ Weninger help you with your inquires
with regards to writing your wills?
Visit our website today for more information!
www.CalgaryLegalWills.com