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Showing posts with the label probate

What Are the Inheritance Rules if A Spouse Dies While Separated But Not Divorced?

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As of January 1, 2022, amendments to Ontario's Succession Law Reform Act (SLRA) can disqualify separated spouses from inheriting from one another. These changes apply whether a person has a Will (testate) or dies without one (intestate). To inherit despite separation, a Will must explicitly state such an intention. These amendments ensure that separated spouses are treated similarly to divorced individuals regarding inheritance rights. Previously, only divorced spouses were barred from inheriting under an ex-spouse's Will or intestate estate. However, it’s crucial to note that there are specific timing criteria, and the new regulations do not apply to all separated spouses. The changes stem from Bill 245 – the Accelerating Access to Justice Act, 2021. Section 17 of the SLRA was revised to revoke gifts to a "separated spouse" in a Will, mirroring the rules for divorced individuals.  For the purposes of these amendments, spouses are considered "separated" if: ...

Estate Planning for Copyright: The Importance of a Will

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What is Copyright? Copyright is a legal right protecting the expression of ideas in various forms, including literature, music, art, and performances. It is an intangible form of property that lasts for the creator’s lifetime plus 50 years after death. But once a creator dies, who manages and benefits from their copyrights? Who Inherits Copyrights? If a copyright holder has a Will and specifies beneficiaries for their copyrights, those individuals inherit the rights. If copyrights are not mentioned, they fall into the estate's residue and are handled according to the Will. Without a Will, local intestacy laws determine who inherits the copyrights, which can lead to disputes and uncertainty. Case Study: Prince When Prince died in 2016 without a Will, his $156 million estate, including valuable copyrights, was subject to lengthy legal battles and was ultimately divided among his half-siblings under Minnesota intestacy laws. Prince's copyrights were left without clear instructio...

Why should I go to a lawyer to make a Will if I don't own a lot and my affairs are simple?

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  Even if your affairs seem simple or you don’t own much, there are several important reasons to consider going to a lawyer to make your will: 1. Avoiding Mistakes: Making a will on your own can lead to errors or omissions that could render your will invalid or cause confusion. Lawyers ensure that your will complies with Ontario’s legal requirements, such as proper witnessing and signing, which reduces the risk of your will being challenged in court. 2. Customizing for Specific Needs: Even simple estates can have nuances. For example, you may want to leave personal items to specific people, designate guardians for minor children, or make provisions for charitable donations. A lawyer can help tailor the will to meet these wishes, ensuring clarity and precision. 3. Ensuring Proper Execution: Lawyers understand how to structure your will to avoid ambiguity or conflicts between beneficiaries. They can also ensure that your will is properly executed and meets the formalities required to...

What is the concept of "capacity" in Will-Making in Ontario?

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Understanding Capacity in Will-Making in Ontario In Ontario, the concept of capacity is crucial when it comes to creating a valid Will. Capacity refers to an individual’s mental ability to understand the nature and consequences of making a Will, as well as the implications of their decisions regarding the distribution of their estate. To have the legal capacity to make a Will, a testator (the person making the Will) must generally meet three criteria: they must understand the nature of the act of making a Will, recognize the extent of their assets, and comprehend who their beneficiaries are and the effects of their choices. This means that even if someone has a medical condition or is receiving treatment, they may still possess the capacity to make a Will, provided they can satisfy these requirements. In Ontario, there is no strict age for capacity, but individuals must be at least 18 years old. Importantly, the law recognizes that capacity can fluctuate; thus, it’s advisable for those...

What Happens if Someone Dies Without a Will in Ontario?

 What Happens if Someone Dies Without a Will in Ontario? In Ontario, when a person dies without a Will, they are said to have died "intestate." This situation can create challenges for the deceased’s loved ones, as the distribution of their assets and the management of their estate are dictated by provincial laws rather than personal wishes. Here’s a breakdown of what happens in such cases. 1. Intestate Succession Law Ontario's intestacy laws govern how the deceased’s assets will be distributed. The distribution follows a hierarchy established by the Succession Law Reform Act . The first in line are typically spouses and children. If there are no surviving children, the estate may go to parents, siblings, or further relatives in a specific order. If no relatives can be found, the estate may ultimately be transferred to the government. 2. Estate Administration Without a Will, no one is automatically appointed to administer the estate. However, an interested party, often a...