Wills/Estate Administration
Wills
Upon the death of someone, an estate or trust is created, and how that estate is handled is determined mainly by the Last Will and Testament of the deceased.
The purpose of writing a will is to pass on your belongings to your loved ones according to your wishes and with as few problems as possible. Illness or accident could claim us at any time, and a will is the only way to control who gets what you have when you die. If you die without a will:
There is no one appointed to deal with your estate. There is no formal written record of what you wanted to be done with your estate. It's often more costly, complicated and time-consuming to settle your estate.
There will be added expense because the court will appoint an administrator for a fee. Also,
- you cannot name a guardian for minor children or plan thoroughly what will happen to them upon your death;
- you won't be able to minimize taxes;
- you cannot leave contributions to a church or a favourite charity;
- you cannot protect your family by ensuring there are no extra delays, inconvenience, and expense in the settlement of your Estate;
- you may cause an anxious search by your family for a will; and
- you may cause animosity between family members due to disagreements on how to divide your estate.
It is a good idea for everyone to have a will. There are advantages to having a lawyer prepare your will. A lawyer has a lot of experience to help you deal with matters like meeting the requirements for a valid will, minimizing tax consequences, considering trusts, making suitable arrangements for your minor children, and many other problems.
It is crucial to consult a lawyer when making a will if you:
- have a large or complex estate (e.g. business assets, children who live outside of Canada, and children with special needs);
- are separated or getting a divorce;
- have a blended family;
- are older or ill, as others may question your mental capacity;
- feel you are being pressured or unduly influenced by others;
- are thinking about getting married; or
- are starting or ending an adult interdependence relationship.
Your will contains instructions about what you want to be done with your property after you die. The language should be clear and straightforward, so no one is confused about what you meant.
If you have any other questions or concerns, don't hesitate to contact us. We will gladly help you with every detail of your Will.
Wills/Estate Administration
Estate Administration
Probate is a legal process where the personal representative (although most people commonly still use the term executor) named in the will applies to the court to have the will proven valid and confirms the personal representative's authority to administer the estate.
Not all estates require that a grant of probate be issued. Whether probate is required can be a complex issue, and the personal representative may need to seek legal advice to determine if probate is required in the circumstances of that estate.
Generally, probate is required where the deceased owned land registered solely in his or her name or where financial and investment institutions require a grant of probate before releasing money or property to the personal representative.
Your personal representative has many duties, including:
- making funeral arrangements;
- identifying all property owned by you and all of your debts;
- administering and managing the estate property;
- paying your debts and obligations, and those of your estate; and
- ascertaining your directions and intentions as set out in your Will and distributing the estate property to the beneficiaries as your Will directs.
The duration of time varies with the size and complexity of the estate. Common issues that arise and may create delays are:
- difficulty in locating the beneficiaries named in the will, if there is one, or the persons entitled to inherit under provincial law where there is no will;
- determining what debts are proper debts of the estate and must be paid;
- preparing and filing income tax returns; and
- settling claims on the estate property.
The personal representative is required to distribute the estate property as soon as practicable. In most simple estates, the bulk of the assets can be distributed within the first year of death.
Where the deceased left a valid will that appoints a personal representative, the person named in the will can administer the estate. If the deceased did not have a valid will, the legislation lists individuals who have the right to apply to the court to be appointed as the estate administrator.
If you are currently a personal representative/administrator in need of guidance, contact our team at Valley Law Chambers. We offer competent and practical advice related to estate administration. We can help you with:
- Applications for probate, administration estates with no will (Intestate Estates)
- Estate administration for personal representatives
- Estate litigation, including challenging Wills