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Devolution of Estates Act - 1973

Category:LEGISLATION
Sub-Category:SOCIAL - SUCCESSION DUTY AMENDMENTS
Resolution Number:100.50.13
Club:Toronto
Year: 1973
Status:Resolved
Reaffirmed:
Comments:

THEREFORE BE IT RESOLVED THAT the Business and Professional Women's Clubs of Ontario request the Government of Ontario to amend the Ontario Devolution of Estates Act relating to the intestacy of a spouse, to provide that:
(a) where there are no surviving minor children the surviving spouse shall be entitled to receive the entire net value of the estate of the intestate spouse; and
(b) where the spouse and one or more children survive, and the net value of the estate of the intestate spouse does not exceed $500,000, the surviving spouse shall be entitled to receive the entire net value of the estate; and
(c) where the spouse and one or more children survive and the net value of the estate of the intestate spouse exceeds $500,000, the surviving spouse shall be entitled to receive $500,000 plus one-third of the residue of the estate, the other two-thirds of the residue passing to the dependent children.

 

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Article ID: 4082

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