Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 22 MAY 2024

Incorporated Business Owners Should Consider Multiple Wills

Lindsay Kenney LLP
Explore more from Lindsay Kenney LLP

When it comes to estate planning, most of us likely think of drafting a Will.

CanadaFamily and Matrimonial
Timothy N. Grier
Timothy N. Grier

When it comes to estate planning, most of us likely think of drafting a Will. And while a Will is an important part of the planning process, we recommend that individuals also consider preparing Powers of Attorney, Representation Agreements and Advance Directives. Having all of these documents as part of your estate plan will ensure you are prepared for whatever life may have in store for you. But what if you are also a business owner? What should you include as part of your estate plan? For many, it is completing a secondary Will, often referred to as a corporate Will.

Primary Will Secondary Will
- Executor **Must be a Different Executor
- Assets – non corporate Assets – typically companies

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

About Mackrell International – Canada - Lindsay Kenney LLP is a full service business law firm with offices in Vancouver and Langley, BC and a member of Mackrell International. Mackrell International – Canada is comprised of four independent law firms in Alberta, British Columbia, Ontario and Quebec. Each firm is regionally based and well-connected in our communities, an advantage shared with our clients. With close relations amongst our Canadian member firms, we are committed to working with clients who have legal needs in multiple jurisdictions within Canada.

This article is intended to be an overview and is for informational purposes only.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Canada-US Estate Planning: A Complete Guide For Snowbirds And Cross-Border Families

Canadians who own US property, hold American investments, or have family members with US citizenship face a complex web of estate tax obligations spanning two countries. Without proper coordination, your heirs could face double taxation, frozen assets during lengthy Florida probate proceedings, or unexpected tax bills that consume a significant portion of their inheritance.
CanadaFamily and Matrimonial
Altro LLP
Altro LLP
Article

Ontario Probate: A Step-by-Step Guide For Executors (Including Estates With US Property)

Ontario probate requires court certification, estate administration tax of up to 1.5%, and careful navigation of cross-border rules when US property is involved. Executors face strict timelines, fiduciary duties, and potential personal liability, while proper planning through multiple wills and beneficiary designations can significantly reduce both costs and delays.
CanadaFamily and Matrimonial
Altro LLP
Altro LLP
Article

The Supreme Court Of Canada Recognizes A New Tort Of Intimate Partner Violence

The Supreme Court of Canada has established a groundbreaking new common law tort of Intimate Partner Violence, fundamentally changing how survivors can seek civil remedies for coercive and controlling behavior in intimate relationships. This landmark decision introduces a legal framework that recognizes patterns of abuse beyond traditional assault claims, focusing on the cumulative nature of coercive control that strips victims of their dignity, autonomy and equality. Courts across Canada are now beginning
CanadaFamily and Matrimonial
Thompson Dorfman Sweatman LLP
Thompson Dorfman Sweatman LLP
Article

Canadian Citizenship By Descent: Canada Expands Eligibility Under Bill C-3

Many people may be surprised and pleased to learn that there is a new path to becoming a Canadian citizen. The Government of Canada passed Bill C-3, An Act to Amend the Citizenship Act (2025), on December 15, 2025. Before this legislation came into effect, Canadian citizenship by descent was limited to the first generation born outside Canada. For example, Emily was born or naturalized in Canada, and she could pass her citizenship to her child, Duncan, born outside of Canada.
CanadaFamily and Matrimonial
O'Sullivan Estate Lawyers LLP
O'Sullivan Estate Lawyers LLP
Article

Before December 31: A Cross-Border Estate Planning Check-Up For Canadian Families

Canadian families with U.S. connections face unique estate planning challenges that require regular review. This comprehensive guide examines eight critical areas—from wills and powers of attorney to cross-border trusts and reporting obligations—that warrant attention before year-end, particularly when family circumstances, asset values, or residency status have changed.
CanadaFamily and Matrimonial
Altro LLP
Altro LLP
Article

Can I Claim Damages For Intimate Partner Violence In Ontario? A Look At Ahluwalia And Mitchell

The Supreme Court of Canada has established a new tort for intimate partner violence, extending legal recognition beyond physical abuse to include psychological control, financial manipulation, and other coercive tactics. Understanding who can sue, what conduct qualifies, and how courts will assess damages is essential for anyone navigating this emerging area of law.
CanadaFamily and Matrimonial
Lerners LLP
Lerners LLP