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ARTICLE · 10 NOVEMBER 2021

Make A Will Month: The Importance Of A Will

We continue to live in unprecedented times. The importance of a Will – during this pandemic or anytime for that matter - simply cannot be overstated.

CanadaFamily and Matrimonial

We continue to live in unprecedented times. The importance of a Will – during this pandemic or anytime for that matter - simply cannot be overstated.

This article summarizes some of the major implications of dying without a Will - focusing first on some non-tax considerations and then on certain income tax and probate fee implications that may arise when someone dies without a Will.

Appointment of Executors and Trustees

When an individual dies without a Will, an application must be made to the court to have an estate trustee appointed without a Will. This could be costly, time-consuming, and there is no way to ensure who will be successfully appointed in this capacity. The process could be contentious, causing rifts among family members, etc., as they apply for appointment.

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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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