If you die without a will, your assets will be distributed in accordance with the intestacy laws of your province. These laws set out a specific order in which your assets will be distributed to your next of kin.
The order of distribution under the intestacy laws varies from province to province, but it is generally as follows:
- Spouse or common-law partner
- Children
- Grandchildren
- Parents
- Siblings
- Nieces and nephews
- Distant relatives
- The Crown
If you have no next of kin, your assets will go to the Crown.
The intestacy laws may not distribute your assets in accordance with your wishes. For example, if you have a blended family, the intestacy laws may not distribute your assets in a way that is fair to all of your children. Additionally, if you have any minor children or dependents with disabilities, the intestacy laws may not provide for their care.
If you want to ensure that your assets are distributed in accordance with your wishes and that your loved ones are provided for after your death, you should create a will.
Problems that Can Occur if You Die Without a Will
There are a number of problems that can occur if you die without a will, such as:
- Your assets may not be distributed in accordance with your wishes.
- There may be disputes among your next of kin over the distribution of your assets.
- Your minor children may not be properly cared for.
- Your dependents with disabilities may not be provided for.
- Your estate may be subject to more estate taxes.
How to Avoid the Problems of Dying Without a Will
The best way to avoid the problems of dying without a will is to create a will. A will is a legal document that sets out your instructions for how your assets should be distributed after your death.
When creating a will, you should consider the following:
- Who you want to inherit your assets.
- Who you want to be the guardian of your minor children.
- How you want your end-of-life care to be managed.
- Any charitable donations you want to make.
Dying without a will can create a number of problems for your loved ones. To avoid these problems, it is important to create a will. A will is a legal document that sets out your instructions for how your assets should be distributed after your death.
It is a good idea to have your will reviewed by a lawyer to ensure that it is valid and that it meets your needs.
This article is for informational purposes only and is not legal advice. Contact us today to discuss your specific situation.