Why Real Estate Should Be a Key Focus in Your Will

No one likes to think about dying—I get it. But having experienced loss firsthand, I know how important it is to be prepared. I lost my father when I was just seven years old, and very recently, I lost my mother. Within six weeks of her passing, her second husband also passed away.

Having a clear will and documented intentions made a difficult time much easier for my brother and me. Fortunately, we have always been close and acted in our mother’s best interest. But not all families share the same dynamic. A well-structured will ensures that your wishes are carried out and prevents unnecessary complications for your loved ones.

Did you know? If you have registered accounts such as a TFSA, RRSP, or RRIF, you can add beneficiaries to them—meaning these assets pass directly to your chosen recipients, even overriding your will.

Speaking with a professional can help ensure all of your accounts, real estate, and valuable personal items—such as art, jewelry, or family heirlooms—are properly documented in your will. Taking these steps now provides peace of mind and ensures your legacy is handled exactly as you intend.

When planning for the future, drafting a will is one of the most thoughtful and important steps you can take to protect your loved ones. If you own real estate, it’s essential to specifically outline how you’d like it to be distributed after your passing. Clear instructions in your will help minimize confusion among your heirs and ensure your wishes are carried out exactly as you intend.

The Importance of Specifying Real Estate in Your Will

Real estate is often one of the most valuable assets a person owns, making it a crucial component of any estate plan. Without clear direction in your will, your property could be subject to legal disputes, delays, or unintended transfers.

For example, if you want to leave your home to your children, sell it to fund a trust, or allocate it in another specific way, these details must be explicitly stated in your will. Without proper guidance, misunderstandings or disagreements could arise, adding unnecessary stress for your family during an already difficult time.

Understanding Property Ownership and Its Impact

Another critical aspect of estate planning is understanding how your property is owned. If your real estate is jointly held, survivorship rights may come into effect. In this case, ownership could automatically transfer to the surviving owner, bypassing the instructions in your will entirely.

Similarly, if your property is held as tenants in common, your share of the property can be passed down according to your will. These distinctions make it essential to review how your real estate is titled and ensure it aligns with your estate planning goals.

When to Review Your Will

If you haven’t updated your will recently—or if you’ve acquired new real estate—it’s a good time to revisit your estate plan. Life circumstances change, and keeping your will up to date ensures it reflects your current wishes and priorities.

Events that may prompt a will review include:

• Purchasing or selling property

• Changes in marital status

• Birth of children or grandchildren

• Significant financial changes

How an Estate Lawyer Can Help

Estate planning can feel overwhelming, but you don’t have to navigate it alone. An experienced estate lawyer can help you:

• Review your property holdings

• Clarify your wishes for your real estate

• Ensure your will is legally sound and aligns with your intentions

If you’re ready to review or update your will, I have a trusted network of skilled professionals who can help ensure your plans are clear and your legacy is protected. Let’s work together to make sure your estate plan reflects your wishes and provides peace of mind for your family.