Buying a home is one of the main reasons that should lead you to getting a will, since when you acquire a large asset you want to protect it. Another important reason is the birth of a child. By preparing a valid will, you determine how your estate will be divided and distributed. Your estate includes what you own and what you owe. If you don’t have a will, the laws of Ontario will determine how your estate is divided. When a person dies without a will, the Succession Law Reform Act sets out how an estate is distributed. Generally, the first $200,000 is given to the deceased person’s spouse and anything above that is shared between the spouse and the children. Things get very complicated if you die without a will and have a common law spouse and/or a blended family because common law spouses don’t have similar rights. It therefore provides you with peace of mind to have a valid will drafted so as to not burden your family with additional stress and problems at the time of your death.
Paul DioGuardi
B.A., LL.B, KING’S COUNSEL, SENIOR COUNSEL
Paul obtained his Law Degree from Queen’s University in 1964. He is a member of the Bars of Ontario, British Columbia and the Turks and Caicos Islands, a British tax free territory in the West Indies. He has over 50 years of experience and was trained at the Ottawa head offices of Revenue Canada and the Tax Litigation Section at the Department of Justice. Paul has had and continues with an extensive career in various areas of law such as:
- Tax Law, Civil Assessment Negotiation and Litigation, Criminal Prosecution Defense, Unpayable Tax Debt Solutions, Audits, Tax Amnesty.
- Corporate and Commercial Law
- Real Estate
- Wills and Estates
- Insolvency and Bankruptcy