Canadian Securities Course (CSC) Practice Exam · Question
Mr. Chen, a Canadian resident, passes away without a will. He is survived by his spouse and two minor children. According to typical provincial intestacy laws in Canada, how will his assets generally be distributed?
In most Canadian provinces, when someone dies intestate (without a will) and has a spouse and children, the spouse receives a preferential share, and the remain
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Question: Mr. Chen, a Canadian resident, passes away without a will. He is survived by his spouse and two minor children. According to typical provincial intestacy laws in Canada, how will his assets generally be distributed?
Answer options:
- All assets will pass directly to his spouse.
- Assets will be divided equally among his spouse and two children. ✅ A portion will go to his spouse, with the remainder held in trust for his minor children until they reach the age of majority.
- All assets will revert to the provincial government, as there is no will.
Correct answer: A portion will go to his spouse, with the remainder held in trust for his minor children until they reach the age of majority.
Explanation: In most Canadian provinces, when someone dies intestate (without a will) and has a spouse and children, the spouse receives a preferential share, and the remaining assets are divided, typically with the children's share held in trust if they are minors.
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