In the case of preferential shares, what amount does a surviving spouse receive if there is one or more issue?

In the context of Ontario Estates Law, specifically dealing with preferential shares, the amount that a surviving spouse receives in the presence of issue (children) is indeed set at $200,000. This rule is applied to determine the minimum legacy amount intended for the surviving spouse before the distribution of the remaining estate assets. The $200,000 is considered the spouse's preferential share, which ensures that they receive this amount from the estate before any further distribution occurs to beneficiaries or heirs.

The intent behind establishing this figure is to protect the surviving spouse's financial interests, especially when there are children involved who might inherit the remaining assets of the estate. By fixing the value at $200,000, the law seeks to balance the needs of the spouse while also addressing the rights of children or other heirs.

Understanding this amount is crucial for practitioners dealing with estate planning and administration, as it directly influences estate calculations and ensures that spousal rights are adequately considered in line with the broader family dynamics involved in estate matters.