What is a secondary will and why would I need one in Ontario?

A secondary will is an additional will that covers certain categories of assets, typically ones that do not require probate to transfer. The most common example is private company shares. Ontario's Estate Administration Tax (probate tax) is calculated on the total value of assets passing through the estate. By placing private company shares — which can have high value but can often be transferred without probate — into a secondary will, you remove their value from the probate tax calculation.

The concept works because private company shares can sometimes be transferred under a company's articles and shareholder agreement without a court-issued Certificate of Appointment. The secondary will covers those shares; the primary will covers everything else (real estate, bank accounts) that does require probate. Only the primary will is submitted to the court, so the secondary will's assets are excluded from the probate calculation.

This strategy requires careful drafting to ensure the two wills are consistent and that assets are correctly assigned between them. If the boundary between the wills is ambiguous, you may inadvertently subject all assets to probate or create conflicts. Secondary wills are a legitimate and established planning tool in Ontario, but they should only be prepared by a lawyer experienced in estate planning.