No Will - What happens now?

Dying Inestate - If you die without a will (intestate) your assets are distributed according to provincial or territorial law

Examples (Ontario):

• Married with no children – The assets will go to your spouse
• Married with children – The size of your estate will determine the distribution - Your spouse receives their preferential share and the balance will be divided between your spouse and your children proportionately, as dictated by law
• No spouse and no children – Family members are considered, such as parents, grandchildren and siblings
• No living next of kin - Your entire estate goes to the provincial government

Age of majority: If your children are under the age of majority, their portion could be held with no access. At age 18, they could come into a significant inheritance

Marital Status: Some provinces and territories do not recognize common law partners under succession laws

Action Item: Speak with your lawyer to ensure your wishes are properly documented