Do I Need a Will?

Probably, yes.

While the surprisingly common belief that without a Will your estate will automatically go to the government is NOT true, it is true that without a Will:

—  The Public Trustee, rather than a trustee of your choice will hold funds for minor children or other minor beneficiaries AND the funds must be given at age 18. In a Will you can provide for the choice of Trustee and age for distribution.

—  After a common accident, there will be no guardians for minor children without a court application and order.  In a Will you may appoint guardians.

— Your spouse - legal or common law -  will receive all of your estate if all of your children are also your partner's children, but if not then your partner will receive the greater of $150,000 or 50% of your estate, with the balance going equally to your children.

— If you have no partner or children your estate will go to your parents but if neither are alive then to your siblings equally, but if none then to your nieces and nephews equally. Failing that, then to the further decendants of your grandparents -- equally on both sides.

— You cannot provide for assets with named beneficiaries such as insurance or RRSP’s to be subject to the same trusts (e.g. for children or grandchildren) as your other assets.