It is important to understand what Probate is, what the steps are, and what costs are involved. Probate is the legal process of “reading the Will”. It is a court order that certifies that the Will is legal and valid, and that the person named as the Executor can now deal freely with all the estate issues and assets. They can now deal with banks and other financial institutions, as well as with pension services and any government agencies required. For example, they can now handle tax return filings and communications with Canada Revenue Services (CRA).

The first thing to find out is if Probate is required at all. This depends on the types of assets within the estate and the values of those assets. Then, you should review the process. Our office can explain the process, the costs, the steps, and the time frame. To learn more about probate, check out Probating the Will

Throughout the Probate process, Executors are required to keep track of the finances of the estate and record all the money coming in and out. This information is to be distributed to the beneficiaries for their review and approval. We can assist with creating an accounting worksheet to organise and keep track of the funds, and draft a final copy that can be delivered to the beneficiaries.