Legal Question in Wills and Trusts in Canada

I was willed a property, my brother and sister have the same share, my mother has life estate. My mother wants to sell.

Question, how is the money divided? thirds or fourths


Asked on 2/22/11, 4:18 pm

1 Answer from Attorneys

Donald McLeod Donald R. McLeod Law Corp.

The money is not divided when the property is sold; the money belongs to your mother for the rest of her life. Period. When she dies, then the provisions of the will as to what is done with the house take over. If there is only you and your sister, and the will gave you equal shares, then you get 1/2 each. But, you can't touch the money until your mother dies. She gets to keep it until then, and invest it, and have the interest/earnings. If the principal goes down in value, so be it; if it goes up in value, so be it. Under some circumstances she has the right to use the principal, depending on what the will says. Sometimes a Judge can allow her to use the principal. But, the bottom line is that it's not your money or your sisters and neither of you ahve any right to it until your mother dies.

Read more
Answered on 2/22/11, 9:44 pm


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Canada