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Last Will and Testament
Everyone who is over 18 years and has the legal and mental capacity should have a Will. In Canada, Wills are governed by the province in which you live.
Always keep your Will up to date.
A Will should be considered in context with 2 other topics:
Powers of Attorney and Estate Planning.
What happens if I die without a will?
Without a Will, what happens to your property depends on the current intestacy legislation in the province in which you reside, along with your marital status at the time of death. Currently in Ontario if a common-law partner dies without a Will, their surviving partner will not be entitled to any part of their estate under the intestacy legislation. There are numerous other complications that can occur when you die without a Will.
If you are concerned about protecting your property and your family see a lawyer and have proper Will drawn up. Have it reviewed periodically, especially if there is a change in the family status, such as a birth of a child, a divorce or a death of a family member.
The Will speaks for you when you can’t speak for yourself. Don’t put those decisions in the hands of strangers.