Multiple will planning still valid
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| | | February 2019 | Multiple Will Planning Still Valid
Sarah Netley, MAcc, MTax, CPA, CA, is a tax manager in Baker Tilly’s Courtice, Ontario office | In our October 2018 Tax Flash, we discussed the decision of the Ontario Superior Court in the case of Re Milne ONSC4147. The Court held that a Will, which provides the executor(s) broad discretion in determining the assets covered by the primary Will, was not a valid Will. The decision meant that the primary Will was not valid, leaving the secondary Will to govern distribution of all the estate’s assets (probate assets and non-probate assets). As a result, all estate assets required probate.
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Baker Tilly Canada periodically publishes Tax Flash for its clients and associates. It is designed to highlight and summarize the continually changing tax and business scene across Canada. While Tax Flash may suggest general planning ideas, we recommend professional advice always be sought before taking specific planning steps. |
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