Home  ›  Ilm Hub  ›  Answers  ›  Do I need to list every asset in my will?
Ilm Hub

Do I need to list every asset in my will?

No, and generally you should not. A will works by fractions of the residue, not by inventory — an itemised list goes stale immediately.

This is legal information only. For advice on your own circumstances, speak to a lawyer.

No, and generally you should not. A will works by fractions of the residue, not by inventory — an itemised list goes stale immediately.

The Canadian position

Specific gifts fail by ademption if the asset is gone. Fractional shares of residue adjust automatically as assets change.

The Islamic position

Faraid works in fractions too, which fits Canadian drafting well. Keep a separate, informal asset list for your executor's benefit.

What to do about it

  1. Draft the will in fractions.
  2. Keep a separate asset inventory updated for your executor.
  3. Note where account records and digital access are stored.
Note

This is legal information only. For advice on your own circumstances, speak to a lawyer.

Citations & sources

Every factual claim on this page traces to a source below. Details change — check the original source before relying on any figure, fee or legal position. Anything under “further reading” is related material, not a source for what is stated here.

Canadian legislation & government
  1. Succession Law Reform Act, RSO 1990, c S.26 — Government of Ontario
  2. Administering estates — Government of Ontario
Further reading — Treadstone Law
  1. Specific gifts bequests ontario will — Treadstone Law
  2. Digital asset clause in a will ontario — Treadstone Law
  3. Separate will for foreign assets ontario strategy — Treadstone Law
  4. Executor dealing with digital assets ontario — Treadstone Law
  5. Wills & estates practice — Treadstone Law