Distribution of Assets
If there is a will, once all of the debts and liabilities of the deceased have been paid, the estate trustee can distribute the estate assets, as directed by the will.
If there is no will, then the estate trustee without a will distributes the estate to relatives in an order that is stipulated in the Succession Law Reform Act. The surviving legal spouse is entitled to the first $200,000 of estate assets, after which the estate assets are shared with the surviving legal spouse and children of the deceased. Other family members, such as parents, will share if there is no surviving legal spouse or children. It should be noted that, in Ontario, “common law” spouses, so termed, are not considered to be legal spouses for the purposes of preferential entitlement where there is no will. In Ontario, the only current rights of a common law spouse relate to support from a partner, while alive, or from the deceased’s estate. |