Module 8 - Future Interests Under Wills
Part 3 - After the Estates Administration Act
Section 2 of Ontario's Estates Administration Act provides that upon a person's death
all real and personal property vested
in the deceased, except jointly owned property, devolves upon the deceased's personal
representative
(i.e., executor or administrator) as trustee, subject to the payment of
debts, for the persons beneficially entitled thereto. Those persons are
the beneficiaries named in the deceased's will, if there is one and it, and
the provisions in it are valid, or the persons who are entitled to the deceased's estate
if she or he died intestate. There is similar legislation in the other provinces.
The statute was first enacted in Ontario in 1886 as the Devolution of Estates
Act, but the reference to the trust was not added until 1910. The addition
of the trust was very significant for future interests. Do you know why?
Think about it and then try to solve the following problems. They are
similar in form to the ones you have dealt with in the preceding submodule.
Click here
to continue.