Wills & Estates

What happens to your digital assets after your pass away?

What happens to your Facebook profile after you become incapacitated or pass away? What about your email account? The rest of your digital assets? In Ontario, there is no legislation dealing with this type of ownership, so you may wish to include digital asset transfer of ownership in your will. Your digital estate plan should include your passwords and your wishes for these accounts after you are no longer able to control them.

What if my common-law partner dies without a will?

According to the law, common-law relationships are not treated the same as married couples in Ontario. If your common-law partner dies without a will and has not named the surviving partner a beneficiary on their assets, the survivor will be omitted from the estate and all assets will be divided amongst children and the deceased’s family.

Pet Guardianship

Your pets are a big part of your family. So, what happens to them after you are gone? If you are suddenly incapacitated or pass away, do you have a plan for your beloved pet?

Should I add my child to the title of my home?

Should I add my child to the title of my home? When your child is listed as a joint tenant, it is likely that the home will be their primary residence. There will be potential income tax complications, like capital gains, from doing this. In Ontario, your child will forfeit their first-time buyer’s exemption for the property transfer tax on the home purchase.

Do I need a Secondary Will if I have my regular Will?

In Ontario, probate fees are among the highest in the country. There are some ways that you can help your loved ones avoid paying some estate administration tax (EAT) after you are gone.

A Secondary Will can help reduce the amount of tax that your loved ones will have to pay in EAT. A Secondary Will is not applicable to everyone, though. Your Secondary Will only covers assets that are not required to go through probate.