: Company Shares in Wills Explained
In , wills are powerful tools for distributing assets like company shares to . But what happens when a will bequeaths shares in a company? Does it count as a , or something else? This question often arises in disputes: Judgment on if will Distributes Shares of Company Among . Understanding this distinction is crucial for testators, executors, and heirs, as it affects how assets are treated during .
This post breaks down the legal principles, key court findings, and practical advice. Note: This is general information based on jurisprudence and not specific legal advice. Consult a qualified attorney for your situation.
What Makes a Legacy 'Specific'?
Under laws like the , legacies are classified as specific, general, or demonstrative. A involves a particular, identifiable item owned by the at death. For shares:
- Definite identification is key, such as quantity, description, or scrip numbers (e.g., my 100 shares in XYZ Ltd. bearing scrip no. 12345) [
