Wills and estate

im doing a project in school and needed the answer for this: what clause do i put in a will to protect my beneficiaries from sharing gifts and inheritance with their spouse

Asked 12 days ago in Ontario
Categories: Wills, Estates, Trusts

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Sabina Mexis

Answer by Sabina Mexis

VerifiedOntario lawyer

In Ontario, Part I of the Family Law Act provides for an equalization of net family property of spouses who are separating or divorcing.  In general, this means the increase in a spouse's net worth since the date of marriage.  Property acquired by way of inheritance can be excluded from equalization under the Family Law Act (Ontario) provided certain conditions are met.  It is common in Will drafting to insert a provision that references the Family Law Act and confirms the testator's intention that inheritances received by a beneficiary are excluded from the beneficiary's net family property. This exclusion only applies if the beneficiary is married when the property is eventually inherited. The clause does not guarantee exclusion for FLA purposes, for example, the exclusion is lost if the beneficiary chooses to commingle the inherited property with marital property. 

Posted 11 days ago

Sabina Mexis is a tax and estate lawyer at Axios Law, specializing in tax and estate planning for high net worth individuals. Call Sabina at 416-447-4334 or email sabina.mexis@axioslegal.com. 

Please note that this is for informational purposes only and does not constitute legal advice to you. Legal advice pertaining to your particular situation can only be provided by a lawyer who has met with you to obtain all pertinent background information necessary to give you a formal legal opinion. For formal legal advice, hire a lawyer (many give a free first consultation). Contact Sabina Mexis, or search the Lawyer Directory.

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