Generally, unless specifically restricted, a testator’s Will deals with all of the testator’s worldwide property, both real and personal, which are owned by the testator at the time of his or her death or in which the testator has a right or beneficial interest at the time of his or her death.
A testator’s Will only takes effect upon his or her death and has no effect during the testator’s lifetime. A testator may revoke or change his or her Will at any time provided he or she has testamentary capacity to do so (more on testamentary capacity later).
In Ontario, Part I of the Succession Law Reform Act, R.S.O. 1990, c.26, sets out the various ways that a valid Will may be made and the formal requirements which must be met (again, more on this later).
Thanks for reading “The Estates Nutshell” – questions and comments are very welcome at estates@cklegal.ca.