Wills & Estates FAQs
1. What happens to my assets if I don’t have a Will?
This is also known as intestacy. In intestacy, one of your family members will need to apply for probate and be appointed an estate administrator. Your assets will be split according to the Ontario Succession Law Reform Act.
2. Can I write my own Will?
It is legal to write your own Will in Ontario as long as you’ve met all the criteria for it to be legally binding.
3. I am separated from my spouse. Do I need to change my Will?
Yes. If not formally divorced, your ex-spouse is still entitled to inherit your assets.
4. Who is an executor of a Will?
The executor carries out the wishes of the testator written in the Will, mainly sorting out all debts, funeral arrangements, and ensuring beneficiaries receive their portion of the estate.
5. Can I change my Will at a later time?
Yes. However you must follow the criteria for will amendments, such as having the same witnesses sign the amended Will.
6. What is the difference between a Will and a Power of Attorney (POA)?
A POA is a legal document that names another individual to act on your behalf in the case that you become incapacitated. There are two kinds of POA: POA for personal care and POA for property. These are only valid if the person who created the POA is alive. A Will comes into effect when the person passes and it basically addresses how they would like their assets to be handled and split.