How to Ensure a Safe and Secure Will in Ontario PART 1

What type of will do you need in Ontario? I’ll tell you about wills that are dangerous.

Many people think any will will do. Since you don’t need a lawyer to make a will legal, why bother with lawyers?

Some Ontario wills are dangerous and must be avoided.

Surprisingly, wills come in and go out of fashion. Like all trends, some types of wills become popular in the news and online.

You may not be famous as yet, but your family still needs to benefit from your wills. Never think making a temporary will is okay. These quick fixes can fool you into thinking your loved ones are protected.

Here are some dangerous wills to avoid in Ontario. Don’t gamble by making any will on this list.

1. Joint Wills Create Problems

These wills start with words like, “We, Tom and Rebecca Jones, declare this is our last will.” Don’t try to save money by signing one will document for two persons or spouses. You need two separate wills individually signed.

Tom and Rebecca thought they would save money having only one will. Both partners signed the same will. They had the same beneficiaries. And why not?

Joint wills cause trouble. Problems arise when either Tom or Rebecca dies. Was the survivor stuck with the terms of their joint will? Can Tom change any terms of his joint will with Rebecca if she dies first?

Courts may have to decide if joint wills can be changed. Changing joints wills may need both spouses’ consent which is impossible to obtain. Beneficiaries may object if Tom tries to change his will after Rebecca dies. Joint wills created more uncertainty, lawsuits and problems. Guess who pays for these will mistakes?

2. Holographic Wills — Not Valid Everywhere

Holographic wills must be entirely in your handwriting in Ontario. You can’t use a form and handwrite part of your will. You must write your entire will 100%, date and sign it. Witnesses are not needed on Ontario holographic wills. However, holographic wills are not valid wills in every jurisdiction.

Don’t rely on two-line holographic wills that you sign before boarding planes. These documents often make no sense. They usually lead to costly trips to the courthouse with lawyers. Your loved ones must prove it’s your own handwriting on the holographic document. Independent witnesses who are not beneficiaries must provide evidence to satisfy courts.

There are also hidden costs you should know about. Handwritten documents require Ontario court approval with independent, qualified witnesses. Holographic documents usually need courts to interpret the language in the handwritten will. For example, if you write, “I leave my house to Jackie…”, does that include the contents? Who decides?

This process is expensive even if these wills are accepted where you live.

3. Mutual Wills Are Dangerous

Franco’s will leaves everything to his spouse, Liz, but his will says: “Liz shall leave my summer home to my children from my first marriage.” This wording may not bind Liz or protect Franco’s children. Liz can claim the clause is not binding.

First, understand that mutual wills are not the same as mirror wills. Two spouses can have identical or mirror wills. They have the same executors and beneficiaries.

Mutual wills are different. They can be difficult to identify but have certain characteristics. Couples can agree not to revoke or change their wills with a contract. But what if one of them dies or remarries? There will be trouble unless intentions are confirmed by a contract outside of the will.

Remember, wills are not contracts. Wills can be terminated and declared invalid by a court. In other words, your spouse can promise to leave whatever you leave to them to your side of the family. There is no guarantee that they will not do anything when you are gone unless you have a separate contract. That is why in blended families you need contracts, especially if one spouse has substantially more wealth to protect.

Mutual wills create problems if there is no supporting contracts to confirm your wishes. Contracts usually require the parties to use separate lawyers to prepare them. Wills must comply with Ontario’s legal requirements. Invest in a lawyer prepared will.

Read part 2 of this post.

Without a solid estate plan, your money can be wasted by paying unnecessary taxes, years of delay and legal costs. I can help you make your will. Contact me for a meeting.

I am a Certified Specialist in Estates and Trusts Law.