As a next of kin, you can inherit some of your parent`s digital assets and obligations. For example, Microsoft provides the next of kin of a deceased subscriber with a DVD with the deceased`s entire Outlook account so that the parent can take care of paying bills, notifying business contacts, closing the account, and so on. You are not required by law to have a will, but it is strongly recommended that you have one prepared. If you die without a will, your estate will be distributed under Ontario`s Succession Law Reform Act, and someone will have to go to court to seek permission to administer your estate. Next of kin are sometimes interpreted more broadly to include the spouse or anyone who would receive a portion of the estate under parentage and distribution laws in the absence of a will. In this context, the next of kin includes a spouse, i.e. a person who is bound by the legal marriage. A person must apply to the court for appointment as administrator (or personal representative) of the deceased`s estate. The administrator has the same duties as an executor, the only difference is that the administrator cannot start acting on your behalf until the court grants permission, which may take some time due to the nature of the legal system. And if no one shows up, the court must appoint a Public Trustee. A legal will allows someone to act on your behalf immediately after your death.
As mentioned above, children inherit part of the estate after the spouse has inherited the preferential share. However, if the owner of the estate was not legally married at the time of death (meaning they had no spouse or were separated or divorced) but left children, the children inherit the entire estate in equal shares. 57% of Canadians do not have a will. If you are one of those numbers and are wondering if you need a legal will or what could happen if you die without a will, this article is for you. Dying is a term that means that someone died without a will. Dying without a will means that the government means that the government can apply provincial laws to decide how your estate will be distributed and your executor appointed. Your estate includes all your assets (anything you have of financial or other value) and all your debts. What happens to your estate varies from province to province and can vary considerably more than you would have liked, as the government does not take into account the unique needs of families. Chris Cambridge is a Senior Real Estate Professional at ClearEstate. He holds a Juris Doctor (J.D.), a Master`s degree in Tax Law (LL.M) and a Master`s degree in Trust and Wealth Management. He brings over 10 years of experience in estate planning and administration – Chris is able to guide you with precision and sensitivity through your estate planning process.
For the estate of an unclaimed person, it will be transferred to the Government of Ontario if no next of kin is found. As a rule, part of the property is used for funeral arrangements. Making a will should be a top priority to ensure your loved ones are cared for and to avoid them dealing with the stress and frustration that comes with the complex process that follows an estate. In the absence of a surviving spouse, the person who is the next of kin inherits the estate. The lineage begins with direct descendants: children, grandchildren, great-grandchildren, etc. The legal status of stepchildren and adopted children varies by province or territory. Before the distribution of property, the surviving spouse receives half of the net value of the family inheritance and the property to which he or she is entitled according to your marital status. Special rules apply to the distribution of the rest of the inheritance.
These rules are as follows: If your minor dependent children have no other surviving parent, the court will decide on a guardian for your young children. That person gets all the rights and responsibilities of a parent and they may not be the person you think will do the best job. Your children`s inheritance will be kept in a trust until they reach the age of majority (18 or 19 depending on the province). This can make it financially difficult for a surviving spouse to start a family. It is also often too young for children to know how to properly manage such a large amount of money. If the spouses were legally divorced or separated at the time of the death of the holder of the estate, the spouse is not entitled to the succession under the Succession Reform Act. However, the divorced or separated spouse may still be considered a creditor of the estate if he or she receives alimony or can apply for maintenance. In each province, if none of the above parents survive, the government will continue to search for the next of kin. If the deceased has no descendants and no will, their spouse may inherit their property as the next of kin. In general, the surviving spouse automatically inherits the marital home, but this also varies from province to province. Whether you use a will, make a will online, or have a lawyer prepare your will, a will ensures that your estate is distributed exactly the way you want it to be and that your family`s future is not left to a judge who knows nothing about them. If no family member or applicant comes forward, a search begins to find one.
If a death is determined to be an accident or suicide, the local coroner`s office is responsible for locating the applicant. However, if death is anticipated, it is not within the jurisdiction of the coroner. Therefore, the institution where the death occurred is responsible for the search. For example, if a person dies in the hospital without relatives, the hospital is responsible for the research. This also applies to long-term care facilities. The details of determining next of kin and inheritance vary by jurisdiction. In countries such as the United Kingdom, inheritance issues are dealt with under different inheritance laws. In other countries, there are laws allowing close relatives to regulate the succession of deceased persons without inheritance. Next of kin refers to a person`s closest living relative. The relationship of the next of kin is important in determining inheritance law when a person dies without a will and has no spouse and/or children. The next of kin may also assume responsibility during and after the life of their parent. For example, the next of kin may have to make medical decisions if the person becomes unable to work, or take responsibility for funeral arrangements and financial matters after the death of their parent.