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Stewart esten what happens to your property if you die without a will in ontario- (1)
1. What Happens to Your Property if
You Die Without a Will in Ontario?
2. People mistakenly think that the
government takes your assets and estate if
you die without a will. This is not true.
3. There are laws that govern what happens
when someone dies without a will.
4. The laws that apply to distribution of the
property without a will attempt to
equitably distribute the assets of the
deceased among the deceased party’s
relative.
9. The Estate Trustee must identify and locate
all of the assets and liabilities of the estate,
and must ensure that liabilities of the estate
are paid.
10. The balance left over after payment of these
liabilities forms the assets available for
distribution from the estate.
11. What is a Wife Entitled to if her
Husband Dies without a Will?
12. In Ontario the Succession Law Reform Act and
the Family Law Act intersect to create rights for
the surviving spouse of the deceased.
13. The Family Law Act defines a spouse as a
legally married person, and the term spouse
in this act does not include cohabiting
parties or common law partners.
14. Under this Act a married spouse is entitled to
receive one half of the amount by which the
deceased’s net family assets exceed the net
family assets of the surviving spouse.
15. This “equalization payment” ensures that
the surviving spouse has the opportunity to
share equally any increase in the value of
the property that the couple earned over
their marriage.
16. The surviving married spouse must elect to
accept this payment OR to take what they are
entitled to under Part II of the Succession Law
Reform Act.
17. Under the Family Law Act, the married
spouse also has the right to remain in
possession of the matrimonial home for a
period of 60 days following the death of
their spouse, on a rent free basis.
18. Alternately, the Succession Law Reform Act
gives all spouses (married and common law) a
preferential share, being the right to receive the
first $200,000.00 of assets from their deceased
spouse’s estate.
19. In addition, they have the right to share in
the balance of their deceased husband’s
estate.
20. The surviving spouse must choose between the
entitlement to equalization and the property
rights that they would receive under the
Succession Law Reform Act.
22. The Succession Law Reform Act sets up a
scheme to divide the estate of a person who
dies without a will.
23. If the deceased had assets worth less than
$200,000.00 at the time of their death their
spouse will be entitled to the entire estate.
24. If the assets of the deceased are worth more
than $200,000.00 then the remainder of the
estate after payment of the preferential share
will be divided as follows...
25. If the assets of the deceased are worth more
than $200,000.00 then the remainder of the
estate after payment of the preferential share
will be divided as follows…
● If the deceased had a spouse and 1 child,
they each get one half of the remainder
of the estate
● If the deceased has one spouse and
more than one child, the spouse gets
1/3rd and all of the children share
equally 2/3rds of the remainder of the
estate.
26. If a child has predeceased his parent, but
would have otherwise been entitled to
share in the estate, that child’s share will
be divided among his own children
28. If the person who died intestate leaves no
spouse, children or issue living at their
death, then their estate is divided amongst
their parents
29. If they have no surviving parent it is then
divided amongst their siblings equally.
30. If they have no brothers or sisters
surviving them it is then shared amongst
their nieces and nephews and if they have
no surviving nieces of nephews then it
gets distributed amongst their next
closest next-of-kin.
31. Only when a person dies having no will, no
spouse, child, issue, parent, sibling, niece,
nephew, or next-of-kin surviving them will
their property then “escheat” and become
the property of the government.
33. If the deceased was legally or morally
responsibly to provide support to
someone but did not make adequate
arrangements for support, then the
defendant may bring a claim for relief
before the court.
34. The judge may make an order for payment
of same from the assets of the estate. The
order may supersede the interests of a
spouse or other noted above.
35. As an estate litigation law firm in Barrie,
we at Stewart Esten appreciate the
importance of properly managing the
inheritance of a loved one’s estate.
36. Creating a will can help relieve the burden
of others stressing over the estate
inheritance process after you pass.
37. Our lawyers can assist you in preparing
wills and Powers of Attorney to protect
you and your family.
38. Contact us to learn more.
Stewart Esten has a litigation lawyer on staff that knows how to protect your estate.
(705) 728-5591