In some circumstances, it may be in the testator’s interest to make more than one Will.

Creating multiple Wills is advisable if:

• assets are held in multiple jurisdictions, or
• assets are of different classes, or
• assets are unusual and may require executors experienced with them (such as digital assets), or
• where there may be probate savings.

Multiple Wills separate the assets based on jurisdiction or asset class.

1. Jurisdiction

Having a separate Will for assets held in a different jurisdiction is advisable because the estate administration process is simplified to one set of rules. Even in Canada, estate laws are different from province to province. Therefore, if there is only one will but assets are located in multiple jurisdictions, the estate process in each area will impact on the process. This can not only slow the process but can often result in a conflict of laws (where the laws in each jurisdiction say different things and it is difficult to determine which rule should or can be applied). There may also be different requirements as to who can act as executor, such as residency or citizenship requirements.

2. Asset Class

Some assets require executors to have a specialized skill  to manage them, such as: literary rights, intellectual property, digital and electronic assets, NFTs, Crypto, and active businesses operated through corporations. Having a separate Will for these assets will allow you to appoint an executor who can deal with them properly and more efficiently.

In some cases, assets do not require a grant of probate to be transferred. Having these assets in a separate will allows the executor to deal with them right away without having to wait for probate for the other assets to be completed. Generally, probate is not required by a third party to transfer assets, such as:

• personal and household items
• shares of privately held corporations
• joint venture or partnership interests
• art

Getting the legal help you need

Wills are extremely important documents and relatively inexpensive to have prepared professionally. If you want to make sure your Will is legal and clearly expresses your wishes, you should consult a lawyer. A lawyer can also provide advice and assistance settling an estate.

								
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