Business owners
Company shares and the case for a second will
If you run a business through a corporation, or hold investments in a holding company, the shares are part of your estate. Whether they need to go through probate is a choice you can make in your will. Our wills and powers of attorney page covers the wider law; this section covers the shares.
Ontario charges estate administration tax on the assets in a probate application: nothing on the first $50,000 and $15 per $1,000 above that (as of 2026). Shares of a private company can usually be transferred by the company’s directors on the strength of the will itself, without a court certificate. Ontario’s estate administration tax rules accept that if you sign two wills, and the court issues a certificate limited to the primary will, only the primary will’s assets are counted.
An example (as of 2026)
A Richmond Hill owner has a house worth $1,600,000 with no mortgage, $200,000 in bank accounts and shares in an operating company valued at $1,200,000. With one will, the tax is calculated on $3,000,000: $44,250. With a primary will for the house and accounts and a secondary will for the shares, it is calculated on $1,800,000: $26,250. The saving, $18,000, is well above the $1,500 + HST difference between the single will package and our primary and secondary wills package.
What we check first
- The company’s articles and any shareholder agreement, which may restrict transfers on death or give other shareholders the right to buy
- Who will run the company if you can’t, and whether your power of attorney for property covers acting as a shareholder
- Whether any loans you made to the company should go in the secondary will too
The drafting details are on our wills and packages page, and share structures on our business law page.
Assets in more than one country
If you own property outside Canada
If you keep an apartment, land or bank accounts in another country, an Ontario will can deal with them, but it may not be enough on its own.
Canadian tax
- If you live in Canada, the Canada Revenue Agency treats you as having sold all your property just before death, wherever it is
- Property left to a spouse or common-law partner living in Canada can generally pass without an immediate gain
- Foreign taxes may apply as well; get advice in that country
Ontario probate
- Real estate outside Ontario is not counted for estate administration tax
- An Ontario certificate may not be accepted abroad; the other country’s own rules decide how land there is transferred
- Your estate trustee may need a local lawyer or process there
What we do
- List every foreign asset and how it is held
- Draft your Ontario will so it doesn’t accidentally revoke a will made abroad, or the reverse
- Recommend when a separate will made in that country, with local advice, is the safer route
We advise on Ontario law only. For the foreign property itself, you need advice from a lawyer where it is.
Why Wannes Law
A Toronto law firm that keeps you informed
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A licensed Ontario lawyer
Rosalie Wannes, licensed by the Law Society of Ontario, is responsible for your file from start to finish.
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Fees before you commit
Instant online quotes and published flat fees, so you know the cost before you retain us.
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Every step explained
Plain-language explanations of what happens, what you provide and what we handle, at every stage.
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Direct access
Reach your lawyer and law clerk directly by phone and email while your matter is underway.
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Sign in person or remotely
Meet at our Sheppard Ave E office in Toronto, or review documents by video and courier the originals.
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English, Armenian and Arabic
Talk through your matter in the language you are most comfortable with.
Richmond Hill homes
Second suites, and what your York Region estate trustee faces
Since By-law 143-24 was passed in December 2024, Richmond Hill permits up to three additional residential units on many residential lots, with a building permit and a separate electrical permit.
A house with a tenant
If your house has a second suite, your estate trustee inherits your role as landlord: the lease continues, and ending it to sell follows the Residential Tenancies Act. Your will should give the trustee power to lease and manage real estate, and your power of attorney for property lets someone collect the rent and deal with repairs if you can’t. Keep the permit and inspection records with your papers; a buyer of the estate’s house will ask for them. Our Richmond Hill real estate page covers selling a house with a suite.
Probate in Newmarket
Probate is filed in the court for the county or district where the person lived. For Richmond Hill, that is the Superior Court of Justice at the Newmarket courthouse, 50 Eagle Street West, and the application can be filed by email. Our Richmond Hill probate page explains the process for the estate trustee.
Signing
Wills are signed with two witnesses at our Toronto office. Where a medical or mobility reason makes coming in difficult, we can visit your Richmond Hill home or a hospital such as Mackenzie Richmond Hill Hospital for $500 + HST. If there is doubt about someone’s capacity, a formal assessment may be needed; Ontario keeps a list of designated capacity assessors.
Fees
Flat fees for Richmond Hill clients
Every package includes estate planning advice; the price is shown in the quote form before you book.
A home or hospital visit in Richmond Hill adds $500 + HST, only where a medical or mobility reason makes coming in difficult. The person making the will must have full mental capacity. Services in English, Armenian and Arabic. See all our legal fees.
Get your instant quoteQuestions
Richmond Hill wills questions
How much does a secondary will save?
Every $100,000 of assets moved into a secondary will saves $1,500 of estate administration tax (as of 2026). It is worth it when private company shares or similar assets are worth well over $100,000; our package is $2,500 + HST.
Will my Ontario will cover my apartment abroad?
It can include it, but the country where the apartment is decides how it is transferred, and it may not accept an Ontario certificate. A separate will made there, with local advice, is often simpler. We make sure your Ontario will doesn’t revoke it.
Can my attorney run my business if I have a stroke?
A continuing power of attorney for property lets your attorney act as shareholder in your place. Running the business day to day is a matter for the company’s directors and any shareholder agreement, so plan both together.
Where is probate filed for someone who lived in Richmond Hill?
With the Superior Court of Justice in Newmarket, which serves York Region. The application can be filed by email.
Can you visit my mother at Mackenzie Richmond Hill Hospital?
Yes, where she can’t come in for medical or mobility reasons, for $500 + HST. She must be able to understand what she is signing, and the lawyer takes instructions from her directly.
Do I need to come to our office?
Once, to sign. The call, instructions and draft reviews can be done by phone, email and video.
Areas We Serve
Wills across York Region and the GTA
We prepare wills for families in Richmond Hill, Markham, Vaughan and across the GTA. For real estate and other services in Richmond Hill, see our Richmond Hill page.
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Scarborough
Wills & powers of attorney for Scarborough clients. Our office is on Sheppard Ave E.
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North York
Wills & powers of attorney for North York clients.
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Markham
Wills & powers of attorney for Markham clients.
Here to help
Keep your company shares out of probate.
Choose a package and see the price, or book a free 15-minute call to ask whether two wills make sense.
Prefer to talk now? Call (647) 707-7718 · Service in English, Armenian and Arabic