Thoughtful estate planning for families in Ontario

Often, yes. A will can name an executor, provide instructions, and reduce uncertainty for family—regardless of estate size.

Many people choose to have both. They cover different types of decisions: financial/legal matters vs. health and personal care decisions.

First of all, thank you for taking on this important role. As an executor, you'll want to start by obtaining several copies of the death certificate and locating the Will. Then, it's time to coordinate and organize the funeral, honouring your loved one’s wishes. Next, gather information about your loved one’s assets, debts, and financial accounts, and open a separate estate bank account to manage any funds and expenses. At this point, we strongly recommend reaching out to an estate lawyer for guidance. There are many legal steps and processes to navigate, and having someone with the right knowledge and experience can make this journey much smoother for you. We're here to help you every step of the way.

An estate usually goes through probate when someone passes away and leaves behind assets or debts. This legal process allows the court to validate the Will (if there is one) and oversee the distribution of the assets. During probate, the court appoints an executor to administer the estate. One key reason for probate is that most financial institutions require it before releasing a deceased person's assets. For example, imagine a granddaughter is named as the executor and sole beneficiary of her grandparent’s estate. When she approaches the bank to withdraw the $90,000 from the account, the bank representatives are understandably cautious about fraud. How can they confirm that the Will is valid? The bank will ask her to obtain a grant of probate before releasing the funds. Essentially, financial institutions rely on the court’s appointment of an executor, ensuring that assets are transferred to the rightful person. Similarly, probate is usually necessary for transferring ownership of real estate after someone has died.

We highly recommend hiring an estate lawyer to prepare your probate application. Although you can apply on your own, the court often rejects applications over minor mistakes, leading to costly delays. We can save you time and ultimately help reduce your expenses in the long run.

The first step is to gather all the necessary information for the probate application, including bank statements, real estate appraisals, and the names and contact details of all beneficiaries. Once we have everything, we can quickly prepare and submit the application to the court. The timeline for court approval varies based on current processing times, which differ from one court to another. Smaller town courts usually have faster turnaround times, often approving probate applications in just a few weeks. In larger cities like Toronto, however, the process can take several months. After the court grants probate, the executor should work to settle the estate as smoothly and quickly as possible.

Probate tax, or Estate Administration Tax, is calculated at approximately 1.5% of the estate's value, but there is no tax on the first $50,000. This fee is paid to the Minister of Finance when the probate application is submitted. If the executor is unable to cover this cost upfront, we can help request a deferral of the Estate Administration Tax from the court.

Yes, you can apply to be the executor of an estate without a Will. However, this process requires a different court application, which is typically more complex than applying for probate with a Will. We can also help with this type of application.