Recent amendment to the Ontario’s Succession Law Reform Act 2021 – surviving spouse will receive $350,000 instead of the initial $200,000
The recent regulations to the amendment were made regarding the asset’s distribution in cases where no Will was conducted at the time of death or in other words the deceased died intestate.
Ontario’s Succession Law Reform Act sets out how the estate is distributed to the surviving relatives. Before the recent amendment, the spouse of the deceased, without a will but with children, got $200,000 and 1\3 of the remaining amount. With this change to the amendment, the surviving spouse will receive $350,000 instead of the initial $200,000 for the estates of persons who died on or after March 1st, 2021.