Don’t assume you’ll inherit that house
A will naming you as the sole beneficiary should protect you
Why are mortgages so expensive in Canada?
Created By
Ratehub.ca
Q: Our house’s title is in my husband’s name. But he was married before, and I worry my greedy stepdaughter expects to inherit it. Is the house legally mine if he dies?
A: No it’s not—it’s a good thing you asked. Since you’re not currently on title, joint tenancy hasn’t been established so the home won’t automatically transfer to you if your husband dies. To ensure you get 100% of the house, your husband needs to write a will naming you as the sole beneficiary. This should sufficiently protect you, according to the law in most provinces (including Quebec). But, if you live in British Columbia the laws are different. In B.C., you can’t cut spouses or children out of an estate inheritance—so if you lived there, your stepdaughter would get part of the house, says B.C. estate litigation lawyer Trevor Todd. Residents in this province can set up trusts or other legal methods around these laws, but will need expert help.
Got a delicate money question? Send it to [email protected]
Share this article Share on Facebook Share on Twitter Share on Linkedin Share on Reddit Share on Email
Related Articles
MoneySense at the MoneyShow: Capital gains and ETF sessions
Here’s how to get your free ticket to attend two MoneyShow virtual expos.
Where are rent prices headed in Canada?
A new Desjardins report predicts rent inflation will slow in the next few years.
What to know as Canada’s capital gains tax changes remain in legal limbo
The federal government’s capital gains inclusion rate increase has yet to become law. There’s a slight chance it may...
How Trump’s election win could affect interest rates in Canada
Experts say Donald Trump’s promised policies risk higher inflation and could weigh on the Canadian dollar.
Looking for a mortgage in B.C.? Don’t limit your options to the big banks
Sponsored By
Coast Capital
Why are Canadians still frustrated with the economy?
Inflation is down, wages are up. But the economic recovery has been uneven, with “two contradictory trends” shaping Canadians’...
Alberta called—“What I wish I’d known before making the move”
“After rushing into the real estate market, I quickly learned I wasn’t ready for the real cost of home...