In this blog post, we delve into the nuances of Ontario’s evolving laws concerning wills, marriage, and divorce (please note that common-law partners are not covered in this discussion; you can find information on that topic here). We delve into recent changes, unpack their implications, and provide valuable insights into how they may affect estate planning strategies in Ontario, Canada.
Previously, a will made before marriage would be voided upon the subsequent marriage, unless explicitly stated otherwise. However, with recent legislative changes, marriage no longer automatically annuls a pre-existing will.
Similarly, a will made prior to divorce is interpreted as if the ex-spouse passed away immediately before the testator’s date of death. Consequently, the ex-spouse cannot serve as an executor or be a beneficiary of the estate unless the will explicitly addresses the divorce.
Spousal or child support obligations are considered debts and may not be absolved by the death of the obligated party. Outstanding support debt must be settled before any distribution to beneficiaries can occur.
Beneficiary designations on pensions, registered accounts (RRIFs, RRSPs, TFSAs), and insurance products (segregated funds and life insurance) remain unaffected by separation or divorce.
If married spouses have been separated (as defined in the Succession Law Reform Act), the same rules as divorce apply and a will made before the separation will be dealt with as if the separated spouse pre-deceased the testator.
However, different rules apply to common-law partners who never formally married and informal separations for married couples that don’t meet the Succession Law Reform Act definition.
Given these considerations, individuals undergoing divorce proceedings should promptly draft a new will and revoke any existing wills to align their estate plans with their current circumstances. Updating beneficiary information is also crucial, either directly with financial institutions or through a new will executed after separation or divorce.
Our legal office offers a comprehensive range of services to protect and optimize your assets and wishes. From personalized consultations to meticulous preparation of wills and powers of attorney, our dedicated team is committed to providing tailored support to meet your specific needs and circumstances.
PLEASE NOTE THAT THE CONTENT OF THIS BLOG IS MERELY FOR INFORMATION PURPOSES AND DOES NOT CONSTITUTE LEGAL ADVICE.
