Thursday, December 01, 2016

LawFact of the Day: Wills and Estates

Here is your daily LawFact form Wise Law for Thursday December 1, 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 parents, siblings will inherit.

- Garry J. Wise, Toronto
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