If you’re a business owner in Mississauga, you’ve likely already taken steps to protect your company: incorporation, contracts, and maybe even a will. But have you considered creating a Secondary Will?

At MJ Law Services, we work with entrepreneurs and incorporated professionals across Mississauga, Brampton, and Toronto to build estate plans that protect both personal and business assets. A Secondary Will is a key tool for doing exactly that.

If you’ve been searching:

• Lawyers in Mississauga for Wills
• Estate planning for business owners in Ontario
• Secondary Will Ontario
• Business succession lawyer Mississauga

This post explains what you need to know.

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What Is a Secondary Will?

In Ontario, you’re allowed to have two separate wills:

• Your Primary Will covers personal assets such as your home, car, bank accounts, and investments.
• Your Secondary Will covers business assets such as shares in a private corporation, business bank accounts, intellectual property, and company equipment.

The main benefit? You can avoid probate tax on the value of your business assets — potentially saving your estate thousands (or hundreds of thousands) of dollars.

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Why It Matters for Business Owners

Probate tax in Ontario is charged at 1.5% of the estate’s value. That includes the fair market value of your private company shares. If your business is valued at $1 million, that’s $15,000 in probate fees — and that’s just one piece of your estate.

Without a Secondary Will, those business shares will go through probate, potentially delaying the transition of control and increasing costs. With a properly drafted Secondary Will, you can:

✅ Keep your business assets out of the probate process
✅ Ensure faster transfer of ownership or control
✅ Reduce your estate’s tax liability
✅ Ensure business continuity for your clients and employees

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Do You Qualify for a Secondary Will?

If you are:

• The sole or majority shareholder in a private corporation
• A medical professional, dentist, or consultant with a professional corporation
• A partner in a privately held business
• An investor in real estate or holding companies

Then a Secondary Will can be a smart part of your estate strategy.

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What Happens Without One?

Without a Secondary Will:

• Your entire estate (personal and business) is lumped together for probate
• Your executor may not have access to key business accounts until the probate is granted
• Business operations could stall
• Your family or partners may face costly delays or legal disputes
• Valuable tax and administrative advantages could be lost

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How MJ Law Helps Business Owners in Mississauga

We don’t just draft standard wills — we tailor estate strategies to fit your business, your family, and your goals. When you work with MJ Law Services, you get:

• Guidance on structuring your Primary and Secondary Wills
• Coordination with your accountant for tax efficiency
• Support with Powers of Attorney (property and personal care)
• Business succession planning advice
• Fast, clear, and affordable service

Whether your business is in Mississauga, Brampton, Toronto, or Etobicoke, our legal team helps you secure what you’ve built.

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Book a Free Consultation

Still searching for “Wills lawyer near me” or “Secondary Will lawyer Mississauga”?

We’ll help you understand your options and draft the right documents to protect your legacy.

📍 Serving Mississauga, Brampton, Etobicoke & Greater Toronto
🔗 Learn more or book online: https://www.mjlaws.ca
📞 Call us: +1-647-660-9666

MJ Law – Enabling Transactions. Protecting What You’ve Built.