While a will can incorporate many parts of your estate, it’s important to note that not all properties pass through a will. Some assets can pass outside of a will. As outlined on the Dial-a-law website, there are certain types of ownership or accounts that you can set-up that would pass outside of a will.
One of the more common examples is joint tenancy. This is where two or more people may own a property together. If one person gives up their ownership – either by choice, or involuntarily (such as a death) – the ownership would transfer to the surviving owners. For instance, if three people owned a cottage together in joint tenancy, one of those owners could not leave the cottage to his or her children in the will. If one owner passed away, the ownership of the cottage would transfer to the two surviving owners.