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| What would happen if both me and my spouse died at the same time ? |
| Problems can be created if both spouses die at the same time - for example in an automobile accident - or if the two die within a very short time of each other. " to cover that possibility, you can include a simultaneous death clause in your Will to pass your property directly to your surviving heirs. You can also require that any beneficiary survive you by a certain length of time in order to inherit. This provision saves double the taxes and court costs, and lets you decide who is next in line for your property. |
| What are the duties of a beneficiary of a Will ? Every Will has at least one beneficiary, who will get some or all of the assets that the Will leaves behind. A beneficiary can be anyone - your spouse or children, other relatives, friends or even total strangers. You can name a University, a hospital or other institution as your beneficiary. Unlike the executor of a Will, beneficiaries usually don't have any duties other to accept the property that you leave them. But even then, they have the choice to either take possession of an asset or refuse to take possession by "disclaiming" it. |
| Can you disinherit someone ? Say you get married, you regret it and your Will leaves nothing to your spouse,your spouse will probably collect something (unless you are legally separated ). A surviving spouse can "take against the Will" this means he or she can choose to accept the amount allowed by law. You or your spouse can voluntarily give up your right to share in the estate of the other by way of a pre-or post nuptial agreement. You can disinherit any or all of your children by specifically stating that you are not leaving that child money or by leaving a nominal sum like a dollar. |
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| Request A Free Consultation |
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| Alternative Legal Solutions offers a free consultation to those in Barrie and surrounding areas. |
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