PRIMARY WILL
I, TESTATOR of Toronto, Ontario, DECLARE that this is my Last Will and
Testament (“my Primary Will”) with respect to my Primary Estate (as
hereinafter defined).
Revocation
I.
I HEREBY REVOKE all former Wills and other testamentary
dispositions of every nature and kind whatsoever (which, for greater certainty
does not include designations made pursuant to Part III of the Succession Law
Reform Act or the Insurance Act) made by me before today and declare this to
be and contain my Last Will and Testament with respect to my property
forming my Primary Estate, and I hereby further declare that the within
document is the only executed copy of my Last Will and Testament with
respect to my Primary Estate. FOR GREATER CERTAINTY, nothing in this my
Will shall revoke, or override, any Will made by me today that purports to
dispose of my Secondary Estate (“My Secondary Will”).
Definitions
II.
I DECLARE THAT in this my Will the following terms shall be
interpreted in accordance with the following rules:
a)
"Personal Effects" refers to the contents of, or property (such as a
car) kept about any residence of mine and that it is reasonable to consider I own
more for personal use than for investment. Unless the context dictates
otherwise, the cost of delivering any of my personal effects to the person to
whom they are given is to be borne by my estate. My Trustees may accept a
receipt and release with respect to any of my Personal Effects from any person
who receives them, even if that person may be under a legal disability.
b) “Digital assets” includes files stored on my digital devices, including
but not limited to, desktops, laptops, tablets, peripherals, storage devices,
mobile telephones, smartphones, and any similar digital device which
currently exists or may exist as technology develops or such comparable items
as technology develops. The term “digital assets” also includes but is not
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limited to emails received, email accounts, digital music, digital photographs,
digital videos, software licenses, social network accounts, file sharing accounts,
financial accounts, domain registrations, DNS service accounts, web hosting
accounts, tax preparation service accounts, online stores, affiliate programs,
other online accounts and similar digital items which currently exist or may
exist as technology develops or such comparable items as technology develops,
regardless of the ownership of the physical device upon which the digital item
is stored.
c)
“Corporate Properties” shall mean
i)
any shares or securities, including debt obligations, of
A)
XXXXXXXXXXXXX. and
B)
any other private corporation, business or enterprise I, or my
spouse, or my family control, either directly or indirectly, or
any affiliate of such a corporation, business or enterprise,
with the words “control” and “affiliate” having the
meanings ascribed to them in the Business Corporations Act
(Ontario), at the time of my death;
(collectively “my private corporations”)
ii)
or any shares or securities into which such shares or
securities may be converted, changed, reclassified, re-divided, redesignated, subdivided or consolidated, any shares or securities of
which are received by me as a stock dividend or distribution
payable in shares or securities of my private corporations and any
shares or securities of my private corporations or of any successor
or continuing company or corporation to any of my private
corporations which may be received by me on an issuance, a
reorganization, amalgamation, consolidation or merger, statutory
or otherwise;
iii) any dividends received or receivable from my private
corporations; and
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iv) any shareholder loans or other debt obligations owing to me
from any of my private corporations.
d)
“Trust Assets” shall mean any assets which are held in trust for me
or my benefit, or the benefit of my Estate at the date of my death.
e) “Partnership Interests” means any interest I have in any limited
partnership, partnership or joint venture with respect to which a grant of
authority to my Trustees by a court of competent jurisdiction is not required for
the transfer, distribution, disposition or realization thereof (collectively referred
to as “the Partnerships”), those of my assets which are held in trust for me by
any one or more of the Partnerships and any amounts owing to me from any of
the Partnerships.
f) “Registry System Real Estate” means any real estate in Ontario which
is registered in the Registry System or has been converted from the Registry
System to the Land Titles System after my acquisition of same and there have
been no dealings with the real estate since my acquisition such that a
transmission application after my death would be considered a “first dealing”.
g) “Children’s Loans” means any loans that may be owing to me by any
of my children.
h) “Disclaimed Assets” means assets which would otherwise form part
of my Secondary Estate, but which have been disclaimed by my Trustees under
paragraph II.d) of my Secondary Will.
i)
“My Primary Estate” means all of my property of every nature and
kind whatsoever and wheresoever situate, but excluding Corporate Properties,
Personal Effects and Trust Assets and includes any Disclaimed Assets.
j) “My Secondary Estate” means my Corporate Properties, Personal
Effects and Trust Assets provided that they are not Disclaimed Assets; and
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k) “my property” and “my estate” shall, unless the context otherwise
requires, mean only my Primary Estate and shall not include my Secondary
Estate.
Executors and Trst
l) FOR GREATER CERTAINTY, I DECLARE that my Trustees shall
have no obligation to obtain a grant of letters probate, a Certificate of
Appointment of Estate Trustee or the equivalent thereof with respect to this my
Will in any jurisdiction if, in their unfettered discretion, they determine that
they will otherwise be able to perform their responsibilities hereunder and they
shall not be liable for any loss suffered by my estate, or by any of the
beneficiaries hereunder, as a consequence of their not obtaining a grant of letters
probate, such certificate or the equivalent thereof.
Distribution
III.
I GIVE, DEVISE AND BEQUEATH my Primary Estate to my Trst
upon the following trusts, namely:
Payment of Debts, Expenses and Taxes
a) To pay out of and charge to the capital of my estate:
i)
my legally enforceable debts and funeral expenses;
ii)
the expenses of administering this Will and the trusts
created under the Will;
iii) all legacy, succession, accession and other duties and all
estate, inheritance, income and other taxes whether imposed by
or pursuant to the law of this or any other jurisdiction
whatsoever (herein called “Death Taxes”) that may be payable by
reason of my death in respect of any property passing or deemed
by any governing law to pass on my death to be taxable as part
of my estate; and I hereby authorize my Trustees in their
unfettered discretion to commute or prepay any such Death
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Taxes or defer the payment of any such Death Taxes as they
shall consider advisable; and I further authorize my Trustees to
determine in their discretion how my said just debts, funeral and
testamentary expenses and Death Taxes shall be allocated
between my Secondary Estate and my Primary Estate.
Multiple Wills
IV.
I intend all my estate assets to be treated as one estate for income tax
purposes, even though I have signed multiple wills.
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IN WITNESS WHEREOF I have, to this my Primary Will written upon this
and the six (6) preceding pages, subscribed my name this _____ day of
_______, 2015.
SIGNED,
PUBLISHED
AND
DECLARED by the said Testator,
as and for kkk Primary Will, in
the presence of us, both present at
the same time, who, at kkk
request, in kkk presence, and in
the presence of each other, have
hereunto subscribed our names as
witnesses.
Name: Jordan M. Atin
Address:
141 Adelaide Street W. -Suite 1700
Toronto, Ontario M5H 3L5
Name:
Address:
TESTATOR
SECONDARY WILL
I, TESTATOR of Toronto, Ontario, DECLARE that this is my Last Will and
Testament (“my Secondary Will”) with respect to my Secondary Estate (as
hereinafter defined).
Revocation
I.
I HEREBY REVOKE all former Wills and other testamentary
dispositions of every nature and kind whatsoever (which, for greater certainty
does not include designations made pursuant to Part III of the Succession Law
Reform Act or the Insurance Act) made by me before today and declare this to
be and contain my Last Will and Testament with respect to my property
forming my Secondary Estate, and I hereby further declare that the within
document is the only executed copy of my Last Will and Testament with
respect to my Secondary Estate. FOR GREATER CERTAINTY, nothing in this
my Will shall revoke, or override, any Will made by me today that purports to
dispose of my Primary Estate (“My Primary Will”).
Definitions
II.
I DECLARE THAT in this my Will the following terms shall be
interpreted in accordance with the following rules:
a) MAKE SURE THE DEFINITIONS ARE CONSISTENT WITH THE
PRIMARY WILL
b) “my property” and “my estate” shall, unless the context otherwise
requires, mean only my Secondary Estate and shall not include my Primary
Estate.
Executors and Trst
c) FOR GREATER CERTAINTY, I DECLARE that my Trustees shall
have no obligation to obtain a grant of letters probate, a Certificate of
Appointment of Estate Trustee or the equivalent thereof with respect to this my
Will in any jurisdiction if, in their unfettered discretion, they determine that
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they will otherwise be able to perform their responsibilities hereunder and
they shall not be liable for any loss suffered by my estate, or by any of the
beneficiaries hereunder, as a consequence of their not obtaining a grant of letters
probate, such certificate or the equivalent thereof.
d) My Trustees may disclaim entitlement to receive any property that
would otherwise form part of my Secondary Estate, and any property so
disclaimed by my Trustees shall not form part of my Secondary Estate, but shall
be part of my Primary Estate to be dealt with under my Primary Will. My
Trustees may disclaim property for any reason that they in their absolute
discretion consider appropriate, including without limitation ensuring that my
Secondary Will does not have to be submitted to the Court for the granting of
Letters Probate or a Certificate of Appointment as Estate Trustee.
Distribution
III.
I GIVE, DEVISE AND BEQUEATH my Secondary Estate to my Trst
upon the following trusts, namely:
Payment of Debts, Expenses and Taxes
a) To pay out of and charge to the capital of my estate:
i)
my legally enforceable debts and funeral expenses;
ii)
the expenses of administering this Will and the trusts
created under the Will;
iii) all legacy, succession, accession and other duties and all
estate, inheritance, income and other taxes whether imposed by
or pursuant to the law of this or any other jurisdiction
whatsoever (herein called “Death Taxes”) that may be payable by
reason of my death in respect of any property passing or deemed
by any governing law to pass on my death to be taxable as part
of my estate; and I hereby authorize my Trustees in their
unfettered discretion to commute or prepay any such Death
Taxes or defer the payment of any such Death Taxes as they shall
consider advisable; and I further authorize my Trustees to
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determine in their discretion how my said just debts, funeral
and testamentary expenses and Death Taxes shall be allocated
between my Secondary Estate and my Primary Estate.
Disposition of Personal Effects
Legacies
b) In the event that any of the amounts, funds or legacies contained in
sub-paragraphs Error! Reference source not found. of my Primary Will (“my
Primary Will Specific Amounts”) is not paid in full pursuant to my Primary
Will as a result of abatement, I DIRECT my Trustees to pay only those of my
Primary Will Specific Amounts which were not paid in full and only to the
extent to which my Primary Will Specific Amounts were not paid in full
pursuant to the said Primary Will as a result of abatement, the intention being
that my Primary Will Specific Amounts shall only be paid once. My spouse,
BENEFICIARY, has made a similar provision in her Will for my Primary Will
Specific Amounts. If the timing of my death and the timing of my spouse’s
death would otherwise result in the payment of my Primary Will Specific
Amounts under both my Will and my spouse’s Will, I direct that my Primary
Will Specific Amounts shall be reduced by one-half such that my Primary Will
Specific Amounts will be paid one-half by my estate and one-half by my
spouse’s estate. The intention is that my Primary Will Specific Amounts be
paid only once.
Multiple Wills
IV.
I intend all my estate assets to be treated as one estate for income tax
purposes, even though I have signed multiple wills.
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IN WITNESS WHEREOF I have, to this my Secondary Will written upon
this and the six (6) preceding pages, subscribed my name this ___ day of
_________, 2015.
SIGNED,
PUBLISHED
AND
DECLARED by the said Testator,
as and for kkk Secondary Will, in
the presence of us, both present at
the same time, who, at kkk
request, in kkk presence, and in
the presence of each other, have
hereunto subscribed our names as
witnesses.
Name: Jordan M. Atin
Address:
141 Adelaide Street W. Suite 1700
Toronto, Ontario M5H 3L5
Name:
Address:
TESTATOR