A will is one of the most important documents a person can prepare in their lifetime. Having a valid, up-to-date will can help you maintain control over your assets, provide for children, spouses and other loved ones, and establish clear instructions for how your estate should be managed after your death.
However, a will is only one part of planning for the future. A comprehensive estate plan may also include powers of attorney, beneficiary designations, trusts, business succession considerations and strategies for addressing changing family circumstances.
At Gelman & Associates, our Toronto wills and estates lawyers help individuals and families plan for the future with practical, personalized guidance. Whether you are preparing your first will, reviewing an existing estate plan, appointing someone to make decisions if you become incapable, or considering how a family business should pass to the next generation, we take the time to understand your family, assets, and long-term priorities.
To find out how we may be able to help you and your family, call 1-844-736-0200 or fill out our online contact form now. We serve clients across all of Ontario.
Key Takeaways: Wills & Estates Law in Ontario
- A comprehensive estate plan may include a will, powers of attorney, beneficiary designations, trusts, and succession planning.
- If you die without a valid will in Ontario, your estate is distributed according to the province’s intestacy rules rather than your own instructions.
- Common law spouses do not automatically inherit under Ontario’s intestacy rules in the same way as legally married spouses.
- A Power of Attorney for Property and a Power of Attorney for Personal Care can help establish who may make financial or personal care decisions if you become incapable.
- Estate plans should be reviewed after major life changes such as marriage, separation, divorce, remarriage, the birth of a child, or significant changes in assets.
- Blended families, common law relationships, second marriages, and family businesses can create additional estate planning considerations.
- Toronto wills and estates lawyers can help coordinate wills, powers of attorney, beneficiary arrangements, and family or business succession planning.
What Is Estate Planning In Ontario?
Estate planning is the process of deciding how your property and financial affairs should be managed during your lifetime and after your death. It can also establish who will make important decisions for you if illness or incapacity prevents you from making those decisions yourself.
In Ontario, wills and estate planning are governed by legislation including the Succession Law Reform Act, the Substitute Decisions Act and the Estates Administration Tax Act.
A thoughtful estate plan may address your will, powers of attorney, beneficiaries, real estate, investments, family obligations, business interests, and other assets. It may also help reduce uncertainty and potential disputes among family members.
Estate planning is not only for high-net-worth individuals. Anyone who owns property, has children, supports family members, operates a business, or wants greater control over future financial and personal decisions can benefit from reviewing their estate plan.
Who Should Have A Will In Ontario?
Most adults should consider having a carefully drafted and regularly reviewed will.
A will becomes particularly important if you:
- own a home or other significant assets;
- are getting married or entering a new relationship;
- are separating or divorcing;
- are remarrying or becoming part of a blended family;
- have a common law partner;
- have or adopt children;
- own a business;
- receive a significant inheritance; or
- want specific people or organizations to benefit from your estate.
A will can identify beneficiaries, name the person you want to administer your estate, and address how property should be distributed. For parents of minor children, it can also include provisions concerning guardianship and the management of property left for children.
What Happens If You Die Without A Will In Ontario?
If you die without a valid will, you are considered to have died intestate. Instead of your estate being distributed according to instructions you prepared beforehand, Ontario’s intestacy rules determine who is entitled to receive estate property.
Under the Succession Law Reform Act, distribution generally depends on which family members survive you. This can create especially important consequences for common law partners because a common law spouse does not automatically inherit under Ontario’s intestacy provisions in the same way as a legally married spouse.
Dying without a will can also create uncertainty about who should administer the estate and may result in additional court procedures, delays, expenses, and disputes among family members.
A properly prepared will allows you to make many of these decisions yourself rather than leaving them to Ontario’s default rules. Our wills and estates lawyers in Toronto can help you create, update, or review your will at any time.
What Should Be Included In An Ontario Estate Plan?
An estate plan should reflect your individual circumstances rather than rely on a one-size-fits-all approach. Depending on your needs, your Toronto wills and estates lawyer may discuss several planning tools:
Wills
Your will sets out how property that forms part of your estate should be distributed when you die. It can name beneficiaries, appoint an estate trustee, and establish trusts or other arrangements for children and other beneficiaries.
Not every asset necessarily passes through a will. Jointly owned property, insurance proceeds, registered accounts, and other assets with valid beneficiary designations may pass outside the estate. These assets and designations should therefore be considered as part of your broader estate planning process.
Powers Of Attorney
A power of attorney is a legal document that gives another person authority to make certain decisions on your behalf.
Ontario recognizes two primary types of powers of attorney.
- A Power of Attorney for Property: This can authorize someone you trust to manage financial matters such as paying bills, managing investments, collecting money, or dealing with real estate. Depending on how the document is drafted, that authority may begin immediately or be subject to certain conditions.
- A Power of Attorney for Personal Care: This allows your selected attorney to make decisions about matters such as your health care, housing, nutrition, clothing, and personal safety if you become incapable of making the relevant decisions yourself.
Many people assume that a spouse, child, or other family member will automatically have authority to manage every aspect of their affairs if they become incapable. That is not necessarily the case. Preparing appropriate powers of attorney can clarify who you trust to act and what authority that person should have when the time comes.
Beneficiary Designations And Asset Reviews
Your estate plan should also consider assets that may pass outside your will, including certain insurance policies, pensions, and registered accounts.
Beneficiary designations should be reviewed periodically, particularly after a major family or financial change. Your estate planning documents, ownership arrangements, and beneficiary designations should work together rather than unintentionally creating conflicting results. An estate planning lawyer can help ensure your documents are comprehensive and complementary.
Trusts And Planning For Beneficiaries
Depending on the circumstances, trusts may be used to manage property for children or other beneficiaries rather than distributing an inheritance outright.
Trust planning can be particularly relevant where a beneficiary is a minor, has a disability, faces financial vulnerabilities, or where a family wishes to retain greater control over how and when inherited property is distributed. Establishing trusts can also help prevent disputes over your will or the contents of your estate plan down the line.
Wills And Estate Planning After Separation, Divorce, Or Remarriage
Changes in family relationships are an important reason to review your will or larger estate plan.
If you separate, divorce, remarry, or begin a new common law relationship, you may need to reconsider your will, powers of attorney, beneficiary designations, and other estate planning documents.
Ontario law concerning the effect of relationship breakdown on an existing will has changed in recent years. Marriage itself no longer automatically revokes a will. Separation and divorce can also affect certain provisions involving a former spouse, depending on the circumstances. For this reason, relying on an old will after a significant relationship change can create unintended consequences.
Estate planning may also need to be coordinated with obligations arising from a separation agreement, marriage contract, support arrangement, or property settlement.
At Gelman & Associates, our combined family and estate law experience allows us to consider these overlapping issues when advising clients about their future plans.
Estate Planning For Blended Families And Common Law Partners
Blended families, second marriages, and common law relationships can create estate planning issues that do not arise in every family.
For example, someone entering a second marriage may want to provide for a new spouse while also protecting an intended inheritance for children from an earlier relationship. A common law partner may need to consider property ownership and beneficiary designations carefully because Ontario’s intestacy rules treat common law and legally married spouses differently.
Estate planning can also intersect with marriage and common law issues, property division, and inheritance.
Addressing these issues proactively can help ensure that your estate plan reflects both your wishes and your existing legal obligations.
Business Succession And Estate Planning
For entrepreneurs and family business owners, estate planning should also consider what happens to the business following retirement, divorce, incapacity, or death.
A succession plan can help establish how ownership and management will transition while considering the needs of family members, shareholders, employees, and other stakeholders.
Important factors that can be addressed in your estate plan may include:
- who will own or operate the business in the future;
- whether some family members are involved in the business and others are not;
- business valuation;
- shareholder agreements and existing corporate arrangements;
- how business interests should be treated under your will;
- tax and financial planning; and
- how the business succession plan interacts with marriage, separation, or divorce.
Because business succession can involve corporate, accounting, and tax issues beyond estate and family law, it may be appropriate to coordinate planning with accountants, financial advisors and other professionals.
For business owners whose personal and business assets overlap, our experience advising business owners and entrepreneurs on family law matters can provide valuable additional perspective.
When Should You Update Your Will And Estate Plan?
An estate plan should evolve as your life changes. Even a carefully drafted will can eventually stop reflecting your family circumstances, assets, and intentions.
You should consider reviewing your estate plan following major events such as:
- Marriage;
- Separation;
- Divorce;
- A new common law relationship;
- The birth or adoption of a child;
- The death or incapacity of an intended beneficiary or decision-maker;
- A major inheritance
- The purchase or sale of significant property;
- Starting or selling a business;
- Moving to or from Ontario;
- And more.
Periodic reviews can also be helpful even when there has been no significant or major life event.
How Can Our Toronto Wills And Estates Lawyers Help?
Wills and estate planning involve more than completing documents. A lawyer can help identify issues that may otherwise be overlooked and ensure that different parts of your plan work together.
At Gelman & Associates, our Toronto wills and estates lawyers can assist with:
- Drafting and reviewing wills;
- Replacing lost or damaged wills;
- Preparing Powers of Attorney for Property;
- Preparing Powers of Attorney for Personal Care;
- Reviewing beneficiary designations and estate planning considerations;
- Planning for minor children and other beneficiaries;
- Estate planning following separation, divorce, or remarriage;
- Planning for blended and common law families;
- Considering trusts and complex asset structures;
- Coordinating family business and succession considerations; and
- Updating existing estate planning documents as circumstances change.
We take the time to understand both your immediate concerns and your longer-term goals so that your estate plan reflects your family and financial circumstances.
Speak With Our Toronto Wills And Estates Lawyers
Planning for the future can provide greater clarity for you and the people who matter most to you. Whether you need to prepare a will, update an existing estate plan, create powers of attorney, or address family or business succession concerns, our lawyers can help you understand your options.
Contact Gelman & Associates to speak with a Toronto wills and estates lawyer about your needs. We serve clients throughout Toronto and Ontario from offices across the province.
Call 1-844-736-0200 or contact us online to book a consultation.
