9,075
edits
Difference between revisions of "Probating the Will"
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→Probate fees are based on the gross value of the estate
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{{REVIEWEDPLS | reviewer = [[Stephen Hsia|Stephen Hsia]]|date= March 2019}}{{Being an Executor TOC}} | {{REVIEWEDPLS | reviewer = [[Stephen Hsia|Stephen Hsia]]|date= March 2019}}{{Being an Executor TOC}} | ||
The executor of a will may need to apply to the court to '''probate''' the will in order to distribute the estate. If everything is in order, the court issues a '''grant of probate'''. The executor can then show a notarized copy of the grant of probate to banks and other asset holders, confirming that the executor has the authority to act for the estate. | |||
==The probate procedure== | |||
[[File:Being an Executor - Contents5.jpg|thumb|275px|right| link=| <span style="font-size:50%;">Image via www.www.istockphoto.com</span>]] | |||
The probate procedure involves several steps and considerable attention to detail. Many documents must be filed with the probate registry of the Supreme Court of BC. | The probate procedure involves several steps and considerable attention to detail. Many documents must be filed with the probate registry of the Supreme Court of BC. | ||
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== You must notify certain people that you intend to apply for probate == | == You must notify certain people that you intend to apply for probate == | ||
To provide notice, complete a copy of the court form P1, notice of proposed application in relation to estate. Together with a copy of the will, mail or deliver the court form to: | To provide notice, complete a copy of the court form P1, notice of proposed application in relation to estate. (For the probate court forms, see the [https://www2.gov.bc.ca/gov/content/justice/courthouse-services/documents-forms-records/court-forms/probate-forms BC government website]). Together with a copy of the will, mail or deliver the court form to: | ||
* Each person named in the will as executor or alternate executor. | * Each person named in the will as executor or alternate executor. | ||
* Each beneficiary named in the will. | * Each beneficiary named in the will. | ||
* The will-maker’s spouse and children (because they are entitled to challenge the will under the ''Wills, Estates and Succession Act''). | * The will-maker’s spouse and children (because they are entitled to challenge the will under the ''[http://canlii.ca/t/8mhj Wills, Estates and Succession Act]''). | ||
* Each person who would be entitled to a share in the estate if there had been no will. The ''Wills, Estates and Succession Act'' lists the people who are entitled to a share in an estate if someone dies without a will. | * Each person who would be entitled to a share in the estate if there had been no will. The ''[https://www.canlii.org/en/bc/laws/stat/sbc-2009-c-13/latest/sbc-2009-c-13.html#sec20_smooth Wills, Estates and Succession Act]'' lists the people who are entitled to a share in an estate if someone dies without a will. | ||
* If ''any'' of the people you’re required to send notice to above is a minor or mentally incapable adult, you need to send notice to the '''Public Guardian and Trustee'''. | * If ''any'' of the people you’re required to send notice to above is a minor or mentally incapable adult, you need to send notice to the '''Public Guardian and Trustee'''. | ||
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{{PLSTipsbox | {{PLSTipsbox | ||
| text = You can download the court forms required for probating a will from the Ministry of Justice website at | | text = You can download the court forms required for probating a will from the Ministry of Justice website at | ||
gov.bc.ca/court-forms. | [http://gov.bc.ca/court-forms gov.bc.ca/court-forms]. | ||
}} | }} | ||
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=== Signing the probate forms === | === Signing the probate forms === | ||
[[File:Being an Executor - Contents6.jpg|thumb|275px|right| link=| <span style="font-size:50%;">Image via www.istockphoto.com</span>]] | [[File:Being an Executor - Contents6.jpg|thumb|275px|right| link=| <span style="font-size:50%;">Image via www.istockphoto.com</span>]] | ||
When you sign a probate form, it means you’re swearing or affirming that the information you’re providing in the document is true. You’ll need to sign ''some'' of the probate forms in front of a lawyer, notary public, or a commissioner for taking affidavits. All court registries have a commissioner for taking affidavits, and some community groups do as well. | When you sign a probate form, it means you’re swearing or affirming that the information you’re providing in the document is true. You’ll need to sign ''some'' of the probate forms in front of a lawyer, notary public, or a commissioner for taking affidavits. All court registries have a commissioner for taking affidavits, and some community groups do as well. | ||
== Listing assets and liabilities == | == Listing assets and liabilities == | ||
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{{PLSTipsbox | {{PLSTipsbox | ||
| text = To help determine the market value of the person’s home, refer to BC Assessment’s property assessment information at bcassessment.ca. | | text = To help determine the market value of the person’s home, refer to BC Assessment’s property assessment information at [http://bcassessment.ca bcassessment.ca]. | ||
}} | }} | ||
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{| class="wikitable" | {| class="wikitable" | ||
|- | |- | ||
! $0 to $25,000 | ! Estate value !! Probate fee | ||
|- | |||
| $0 to $25,000 || none | |||
|- | |- | ||
| For the first $25,000 to $50,000 || $6 for every $1,000 | | For the first $25,000 to $50,000 || $6 for every $1,000 | ||
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(or part of $1,000) | (or part of $1,000) | ||
|} | |} | ||
For example, if the gross value of an estate is $125,000, the probate fees will be $1,200. This fee is in addition to the court filing fee of $200. | For example, if the gross value of an estate is $125,000, the probate fees will be $1,200. This fee is in addition to the court filing fee of $200. | ||
