If you are the parent of a child under 18 (referred to as a ‘minor’), you may wonder what happens if your child inherits.  There are a number of ways that a child may inherit:        

• the child could be named as a beneficiary in a Will;
• the child could inherit from a relative who dies without a Will (referred to as ‘dying intestate’) if the child is one of the legal beneficiaries under the intestacy laws of Ontario; or,
• the child could be named as a beneficiary of a life insurance policy or any other asset where a beneficiary can be named, such as a segregated fund, an RRSP/RRIF, or death benefit. (more…)