Why a DIY Kit Costs More Than It Saves
Strategic Advantages You Won't Get From an Online Template
1. Dual Wills for Business Owners & Corporations
If you own shares in an incorporated business or medical professional corporation, using a standard single will is one of the costliest mistakes you can make.
The Strategy: We prepare two distinct wills: a Primary Will for assets that require court probate (such as traditional bank accounts and institutional investments), and a Secondary (Corporate) Will specifically for your private corporate shares, shareholder loans, and partnership interests.
The Savings: In Ontario, private corporate shares do not require court probate to transfer. By segregating them into a Secondary Will, your estate legally avoids Ontario’s 1.5% Estate Administration Tax on the full valuation of your private corporation—keeping substantial wealth within your family.
2. Land Registry Title Searches & The "First Dealing" Exemption
Generic DIY kits assume all real estate is handled the same way. Because our firm practices both real estate and estate law, we perform an actual title search on your properties to uncover opportunities and fix hidden errors:
The “First Dealing” Tax Shelter: In Ontario, properties converted from the old Registry system to Land Titles Conversion Qualified (LTCQ) that have not been transferred since conversion may qualify for the First Dealing exemption. When structured correctly, a qualifying home or cottage can be transferred under a Secondary Will without probate, saving your heirs roughly $15,000 for every $1,000,000 in property value.
Correcting Title Defects in Advance: Our title review checks for joint tenancy vs. tenants-in-common status, incorrect names, and outdated encumbrances. Fixing these issues while you are alive prevents costly delays and emergency court applications when your estate is administered.
3. Permanent Archiving for Cheaper, Lifetime Updates
Life evolves, and your estate plan should too. When you work with us, your original files, detailed schedules, and digital drafting notes are stored securely and permanently in our archives.
Future Savings: If you need to appoint a new executor, update beneficiaries, or adjust terms after a major life milestone, we don’t have to start from scratch.
Streamlined Codicils: Because we have your foundational records on file, making minor amendments or codicils is fast, straightforward, and significantly more cost-effective over your lifetime.
Protect Your Business and Real Estate From Unnecessary Probate Taxes
Schedule an estate planning consultation to review your corporate holdings and property titles.