Can I use my will to hold money in trust for my minor children in Ontario?

Yes, and for most parents with young children this is one of the most important things a will can do. In Ontario, a minor cannot legally hold property directly. If a child under 18 inherits money or assets without a trust in place, those assets are generally paid into the Office of the Children's Lawyer, which manages them until the child turns 18 — at which point everything is handed over in a lump sum.

If you would prefer more control, your will can establish a testamentary trust for your children's share of the estate. You name a trustee to manage the funds, and you set out the rules: how the trustee can spend money (for example, education, living expenses, medical costs), and when the child eventually receives the capital outright (for example, at age 21, 25, or in stages).

This allows you to choose someone you trust to manage the funds, rather than leaving the decision to a government office. It also lets you prevent an 18-year-old from receiving a potentially large sum all at once before they are financially ready.

A lawyer can help you draft trust terms that give the trustee enough flexibility to respond to your children's changing needs while still reflecting your intentions.