Primary vs Secondary Wills: What Ontario Families Need to Know

When most people think about estate planning, they think about having “a will.” What many Ontario families do not realize is that in some situations, having two wills instead of one may provide significant advantages.

This strategy, known as using Primary and Secondary Wills, is commonly used in Ontario to help reduce probate costs and create a more efficient estate administration process.

At Levy Zavet, we regularly advise clients on estate structures that go beyond basic planning. For business owners, professionals, and families with more complex assets, understanding how Primary and Secondary Wills work can make a meaningful financial difference.

What Is Probate?

To understand why multiple wills are sometimes used, it helps to first understand probate.

Probate is the legal process where the court validates a will and confirms the authority of the estate trustee to administer the estate. In Ontario, probate is often required before certain assets can be transferred or accessed.

The issue is that probate comes with a cost. Ontario charges an Estate Administration Tax based on the value of the assets that pass through probate.

For larger estates, these fees can become substantial.

The Purpose of Primary and Secondary Wills

A Primary and Secondary Will strategy is designed to separate assets that require probate from assets that may not.

The Primary Will typically deals with assets that are likely to require probate in order to transfer ownership. This may include:

• Bank accounts
• Publicly traded investments
• Real estate requiring court confirmation
• Other institutionally held assets

The Secondary Will is used for assets that can often be transferred without probate, such as:

• Shares in private corporations
• Certain business interests
• Loans receivable
• Personal property
• Other privately held assets

By separating these categories, only the assets governed by the Primary Will may be subject to probate fees.

Why This Matters for Business Owners

This strategy is especially valuable for business owners and incorporated professionals.

For example, if someone owns shares in a private corporation worth several million dollars, including those shares in a single probated will could significantly increase estate administration taxes.

A properly structured Secondary Will may allow those shares to transfer outside the probate process, potentially reducing unnecessary costs to the estate.

For families focused on wealth preservation and succession planning, this can be a highly effective strategy.

The Risks of Improper Planning

While Primary and Secondary Wills can provide benefits, they must be drafted carefully.

One of the biggest risks is inconsistency between the two documents. If the wills overlap, contradict each other, or fail to clearly define which assets belong under each will, disputes and complications can arise during estate administration.

Improper drafting may also create confusion for financial institutions, beneficiaries, or the courts.

This is why experienced legal guidance is critical. Multiple wills are not simply templates. They are part of a broader estate planning strategy that must align with your assets, business structure, and long-term goals.

Estate Planning Is Not Just for the Wealthy

Some people assume these strategies are only for ultra-high-net-worth individuals. In reality, many Ontario families and business owners may benefit from more advanced estate planning tools.

If you own:

• A private corporation
• Investment properties
• Professional corporations
• Significant personal assets
• Complex family or business structures

It may be worth reviewing whether your current estate plan is structured as efficiently as possible.

The Importance of Reviewing Your Estate Plan

Estate planning is not something that should be done once and forgotten.

Businesses grow, assets change, relationships evolve, and laws are updated. A will that made sense years ago may no longer reflect your current circumstances.

Regularly reviewing your estate plan helps ensure:

• Your wishes remain clear
• Your family is protected
• Your estate is administered efficiently
• Unnecessary taxes and complications are minimized

Planning ahead now can prevent significant stress and expense later.

How Levy Zavet Can Help

At Levy Zavet, we help individuals, families, and business owners develop estate plans that are practical, strategic, and tailored to their specific needs.

Whether you need a straightforward will or a more advanced estate planning structure involving Primary and Secondary Wills, our team can guide you through the process with clarity and care.