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Tommy and Gina: Will Probate – Weary and Co

October, 2018

Tommy and Gina: Will Probate

It’s a word that can send even the most fearless people into a panic: Probate. We envision years of court battles that eat up any inheritance we were left by our loved one. But in fact, Probate is a relatively painless process if done correctly, and more often than not, a Will goes through Probate Court. To get a better understanding of this often misconstrued process, follow Gina through her experience with Probate.

Christine Maloney – Weary and Co

Tommy, Gina and their two sons were stunned by the news that Tommy had a terminal illness. They had barely come to terms with it when Tommy, who had just turned 67, took a sudden turn for the worse and passed. When the shock of his death had somewhat subsided, and she stopped dreaming of running away, Gina now had to focus on administrating her late husband’s estate.

Like many spouses, most of Tommy and Gina’s assets were owned jointly and had a right of survivorship associated with them. These joint assets are usually quickly and easily dealt with. However, Tommy had inherited a share of his parents’ lake cabin. Gina’s friend told her that because this share is in Tommy’s name only, there’s no right of survivorship, and the Land Titles Office won’t do anything with the title until she gets Probate. This worried Gina, so, she made an appointment with her lawyer.

Her lawyer explained that Probate is the process of submitting the deceased’s original Will to the Court and requesting that the Court issue a Grant of Probate. The Grant of Probate confirms that the Will is valid, and confirms the authority of the executor to administer the estate. The Grant is obtained by submitting a package of documents to the Court for review. Typically, no one appears in Court—this is what’s known as a ‘desk application.’

Probate is always required when the deceased owned real estate in his or her name alone. It’s almost always required when any of the deceased’s life insurance policies or registered assets, such as RRSPs, name the estate as the beneficiary. Probate is also usually required when the deceased has more than $10,000 in a bank account that’s in his or her name only. Third party institutions like the Land Titles Office, banks, and life insurance companies require Probate to ensure that they’re dealing with a valid Will and an executor who has authority to act.

Did You Know?

The length of time it takes to get a Grant of Probate issued by
the Court largely depends on the Court’s workload,
whether the Court has questions that need answers,
and if all of the technical requirements of the Probate
application package have been met. This can take anywhere
from a few weeks to several months.

 

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http://wearyco.com

 

This sponsored content was produced in partnership between The Weary and Co Law Office and T8N Magazine

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