What does the principle of testamentary freedom in Ontario Estates Law signify?

The principle of testamentary freedom in Ontario Estates Law fundamentally signifies that individuals have the right to dispose of their property as they wish upon their death. This principle allows testators (those making a will) the autonomy to decide how their assets will be distributed, which reflects their personal wishes and preferences.

This freedom is rooted in the respect for individual autonomy in estate planning, providing the assurance that one’s intentions regarding their property will be honored after death. It empowers individuals to choose beneficiaries, determine specific gifts or bequests, and establish conditions for how and when assets may be distributed. As long as the will complies with legal requirements and does not contravene public policy, the testamentary wishes of the deceased are respected.

This principle does not guarantee equal distribution of property among heirs nor does it require the involvement of a legal advisor in the will-making process. Although individuals can choose to rewrite their wills as circumstances change, this is a separate concept from the core idea of testamentary freedom, which emphasizes the right to decide on property distribution upon death.