FAQ: WILLS AND ESTATE
Top 5 FAQ regarding Wills:
Do I need a Will?
There is no legal requirement for you to have a Will in Canada. However, as explained above unless you want to pay more in probate taxes or risk that the person you intended does not receive their share of your inheritance it would be best to have a Will drafted by a lawyer with experience in this area of the law.
Can’t I just prepare a Will using a Will kit or use one of the many on-line services without using a lawyer?
Do it yourself Wills are less expensive and legal for the most part, but in my experience when it comes time to probate the Will, the courts will often reject the Will for some form of deficiency.
Do I need a lawyer to prepare a Will?
There is no obligation to have a lawyer prepare a Will and holographic Wills which are handwritten Wills are considered acceptable Wills in Ontario so long as they meet certain criteria, which include the following:
a. The Holographic Will must wholly be in the handwriting of the Testator;
b. The Holographic Will must be signed by the testator at the end of the document;
c. The Holographic Will must contain a “deliberate or fixed and final expression of intention as to the Testator’s disposal of property upon death”;
d. Any gifts ‘below’ the signature are NOT valid;
e. Holographic Wills do not require witnesses;
f. Holographic Wills do not require a date (although this can be very helpful).
What happens if I don’t have a Will when I die?
When you die without a Will which is commonly known as dying intestate, your estate will be distributed according to the Ontario Succession Law Reform Act. As a result, the individuals that you had wished to inherit your estate may not necessarily be the ones who receive it. In addition, you will most likely end up paying more in probate taxes and you will have no control over who will be appointed to act as executor or trustee over your estate.
What if my common law partner dies without a Will?
A common law partner is not entitled to any benefits from your estate if you die without a Will. In certain circumstances, a common law partner can make a claim to their partner’s property for unjust enrichment or a resulting trust claim, but these claims are very difficult to prove, which is why it is critical to prepare a Will as not having an Estate Plan will lead to unintended consequences.
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