Print

Probate and Administration Rules 

as amended by:

 

What Is Probate:

In simple terms probate is the process of proving a Will. It serves as proof to land registry offices, financial institutions and investment dealers that the Will has been certified by a court. Once certified the executor(s) becomes the legal representative of the estate. Probate can also protect the executor as the estate matters move forward to a successful conclusion. While provinces and territories refer to the costs as probate fees or an estate administration tax, they are a tax. Probate fees do not include any legal fees from a lawyer who may represent the estate in the securing of the “Certificate of Appointment of Estate Trustee With A Will”, which is the form given after successful completion of probate.

Probate fees are almost always based on the gross value of the assets of the deceased. About the only debt that can be considered for deduction is any mortgage which the deceased may have on real estate or a loan the deceased may hold which was used to invest in stocks or bonds (income generating investments) and which now will become due and must be paid out of the estate funds.

Life insurance with named beneficiaries are not added to the estate value for probate means