TOP 5 REASONS WHY TO MAKE A WILL

 

1.  Your spouse is NOT automatically entitled to your estate. If there is no will, in Ontario, your spouse is entitled to the first $200,000.00 of estate assets and any amount over $200,000.00 is shared equally between surviving spouse and surviving children.

 

2.  A common law spouse does not have the same rights to share in the assets of the deceased as a married spouse. So to ensure they receive property after death, a will must exist.

 

3.  A spouse that you are separated from (but not divorced) can still receive estate assets if your will was made prior to the separation and not changed.

 

4.  A marriage (after a will was made) will invalidate any will made prior to the marriage (unless the will specifically states that the will was made in contemplation of the future marriage

 

5. A will allows you to make an informed decision about who should take care of your minor children. Without a will, the court will decide among family members or a state-appointed guardian. Having a will allows you to appoint the person you want to raise your children.