I get asked this question a lot at my law office in Stittsville (Ottawa). People often assume that because they own their home together with their spouse, the property will simply pass to their spouse upon their death. This may or may not be true.
On the other hand, others believe they can always deal with their share of a property in their Will. This may or may not be true.
There are actually two ways a couple can own real property: joint tenants with right of survivorship or tenants-in-common. How the property is owned determines whether it can be dealt with in a Will or will pass outside the deceased person’s estate (and therefore not subject to the terms of his or her Will). This is one of the tricky bits of estate planning and there can be costly consequences if it is not dealt with properly.
If a couple own as joint tenants with right of survivorship, on the death of the first spouse the surviving spouse owns the real property outright. It doesn’t matter what the Will of the first spouse says. The real property becomes an asset of the estate of the last spouse to die and is dealt with as per the terms of his or her Will.
If a couple own as tenants-in-common, on the death of a spouse, the deceased spouse’s share of the property becomes part of his or her estate. It will then be dealt with according to the terms of his or her Will.
If you own real property and want to make sure it will pass according to your wishes upon your death, make an appointment to meet with me today at my Ottawa law office. We will confirm ownership of your property and advise you of your options for achieving your estate planning goals and providing for your loved ones.
Reproduction of this blog is permitted if the author is credited. If you have questions or if you would like more information, please call us at 613 836-9915. This blog is not intended to be legal advice but contains general information. Please consult a lawyer or other professional to determine how the information in this blog might apply to you.
Blog posts pre-dated December 1, 2015 were originally published under Neff Law Office Professional Corporation.
