For many Canadians, estate planning feels like a task to put off for another day. Shockingly, over half of Canadians do not have a will, leaving their loved ones vulnerable to unnecessary legal and emotional challenges. At Kimel Law Group, we often see the unfortunate outcomes of intestacy — the legal term for dying without a will. This blog will explore the serious consequences of not having a will in Canada and why it’s essential to prioritize estate planning today.

 

What Happens If You Die Without a Will in Ontario?

When someone dies without a will in Ontario, the Succession Law Reform Act dictates how their assets will be distributed. While this law ensures a basic framework for estate division, it often falls short of reflecting an individual’s wishes. Key consequences include:

      1.    Pre-Determined Beneficiaries:

          Assets are distributed to immediate family members based on a rigid hierarchy.

          Spouses receive a preferential share, but if the estate’s value exceeds this share, the remainder is divided between the spouse and children.

          For those without immediate family, the estate may go to distant relatives or even revert to the government.

      2.    No Control Over Guardianship of Minor Children:

          Without a will, the court decides who will become the guardian of your children. This decision might not align with your preferences, leading to potential disputes among family members.

      3.    Additional Legal Costs and Delays:

          Dying intestate often results in prolonged legal proceedings to settle the estate, increasing costs and causing stress for loved ones during an already difficult time.

      4.    No Provisions for Non-Family Members:

          Close friends, charities, or non-biological family members cannot inherit unless explicitly named in a will.

      5.    Family Disputes:

          Without clear instructions, disagreements among family members about asset division are common, potentially leading to long-lasting emotional rifts.

 

Why Are Canadians Avoiding Wills?

Despite the risks, many Canadians delay creating a will for various reasons:

          Perceived Complexity: Some believe the process is time-consuming or expensive.

          Avoidance of Difficult Topics: Discussing death and inheritance can be uncomfortable.

          Assumption of Time: Younger individuals or those in good health often assume they have plenty of time to draft a will.

          Misconceptions About Asset Size: People with modest estates may believe a will isn’t necessary, not realizing that any unresolved estate can lead to complications.

 

The Benefits of Having a Will

Creating a will ensures your voice is heard, even after you’re gone. Here are some of the key benefits:

          Control Over Asset Distribution: Specify exactly who receives what, avoiding generic distribution rules.

          Guardianship Decisions: Name trusted individuals as guardians for your children.

          Clarity for Loved Ones: Minimize disputes and provide clear guidance for handling your estate.

          Opportunities for Charitable Giving: Support causes you care about through planned gifts.

          Tax Efficiency: Work with an estate lawyer to create strategies that reduce tax liabilities for your beneficiaries.

 

How to Get Started on Your Will

Creating a Will doesn’t have to be daunting. Here’s how to begin:

      1.    Assess Your Assets: Make a comprehensive list of your properties, investments, and valuables.

      2.    Identify Your Beneficiaries and Executors: Choose who will inherit your assets and who will manage the estate.

      3.    Work with an Estate Lawyer: A professional can ensure your will complies with Ontario laws and truly reflects your wishes.

      4.    Review and Update Regularly: Major life events, like marriage, divorce, or the birth of a child, necessitate updates to your will.

 

The reality is clear: dying without a will can create unnecessary financial and emotional burdens for your loved ones. Whether you’re just starting your career, raising a family, or planning for retirement, creating a will is an essential step in protecting your legacy.

At Kimel Law Group, we specialize in estate planning tailored to your unique circumstances. Don’t let the absence of a will leave your loved ones facing the consequences of intestacy. Contact us today to start planning for your future.

The information and comments herein are for the general information of the reader and are not intended as advice or opinion to be relied upon in relation to any particular circumstances. For particular application of the law to specific situations, the reader should seek professional advice.