When does a Will Need to be Probated?
Probating is a process that verifies a will as valid under BC law. Knowing when a will needs to be probated is crucial for ensuring that the testator’s estate is distributed efficiently and in accordance with their wishes. Whether a will needs to be probated depends on the agencies and financial institutions that hold assets within the estate. As experts in wills, estates, and trusts, the team at Linley Welwood understands the importance of probating a will. That is why we have compiled some important information on probating and the steps required to probate a will.
What does it Mean to Probate a Will?
Probating is defined as a legal procedure to confirm that a will is valid and can be acted on. It allows financial institutions and beneficiaries to rely on the will and view it as the last testament created by the deceased. If you are named as an executor in a will, it is possible that will need to probate the will. Typically, when someone in BC passes away with over $30,000 in their own name, the executor will need to bring the will to court to obtain a grant of probate. The bank or company that possesses these funds will not transfer them out of the account of the deceased without seeing a grant of probate.
Required Steps for Probating a Will
When applying for a grant of probate, there are several required steps. The typical probate process would proceed as follows:
1. Notify all beneficiaries that you intend to apply for a grant of probate
The executor must notify all beneficiaries that they intend to apply for probate and fill out a notice of proposed application. This notice must be given at least 21 days before submitting the probate application to the court.
2. Prepare and fill out all relevant documents
In addition to the notice of proposed application, many other documents need to be prepared. These documents include the submission for estate grant, affidavits of the applicant, affidavits of delivery, affidavits of assets and liabilities, and the original signed version of the will. Additional documents may be required based on the situation.
3. File the probate application
Once all the paperwork is filled out, the probate application needs to be filed in a probate registry with the Supreme Court of BC. A court filing fee may be required based on the value of the estate.
4. Pay any probate fees
Once filed, there may be some fees for the probate application. In most cases, there are no fees for estates valued at less than $25,000.
5. Proceed with distributing the estate and executing the wishes of the deceased
Once the application is approved and probate is granted, you can proceed with the steps in the will.
To learn more about wills and other areas of estate planning, get in touch with the team at Linley Welwood. We can be reached through our online contact form and will be happy to answer any questions you may have regarding our services or the details of your will.