Tuesday, March 29, 2016

LawFact of the Day: Wills and Estates

Here is your daily LawFact from Wise Law for Tuesday March 29, 2016. Today we are talking about Wills and Estates.

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Where a person dies without a will, an intestacy arises.  Ontario’s Succession Law Reform Act establishes rules for the distribution of an intestate deceased person’s property. An intestate person’s spouse inherits the first $200,000 of an Estate.

Estate property over $200,000 is divided between the deceased's spouse and children in proportions that depend on the number of surviving children. Where there are no surviving spouse or children, parents inherit. If there are no surviving parent, siblings will inherit.

- Garry J. Wise, Toronto
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