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Settling a deceased person’s estate can be a sad and stressful process, and if you’re unaccustomed to it, you may have many unanswered questions and concerns.
Fortunately, there are plenty of wills and estates lawyers for hire who can help make the estate settlement, will, and probate process far less complex and stressful.
So, if you’ve recently lost a loved one and are confused as to exactly what you need to do now, read through the basic guide below before reaching out to a local lawyer who can guide you further:
Probate: what is it?
An integral aspect of much of Canada’s estate settlement process, probate gives a will official validation. The identity of the executor of the will is also verified by the probate court.
The will submitted to the Surrogate Court of Alberta is then certified as being the deceased person’s Last Will and Testament and gives authority to conduct the settlement of the estate safely to the executor.
Grant of Probate: What is it?
A Grant of Probate is a formal order from the Surrogate Court of Alberta. This order officially confirms that the submitted will is valid and gives the executor named in the will the legal authority to conduct the settlement of the estate. For the executor to be able to prove that a will is valid and that they have been given permission to disperse the assets legally, a grant of probate is required. Depending on the circumstances, banks may require it, and if land titles are involved, it’s usually necessary.
Banks and probate
While banks are able to waive the requirement for probate grants, an account held in the name of the deceased person with more than $25,000 in it will usually need a grant of probate. Ultimately, banks are trying to protect their own interests by ensuring that the property is dealt with by a legally authorized executor.
For accounts that are held jointly or that have an official beneficiary named, there may be no requirement from banks for a grant of probate.
Land titles and probate
To transfer ownership of a property held solely in the deceased’s name, the probate application must include the Grant of Probate (or Grant of Administration if there is no will), issued by the Court of Queen’s Bench of Alberta. This requirement applies regardless of the property’s value.
Probate process: how long does it take?
In Alberta, it typically takes between one and three months to obtain a grant of probate for an estate, and if you hire a wills and estate lawyer, they can assist you in drafting the application, notifying will beneficiaries, and submitting the application to the court. Along with reducing the stress often associated with such tasks, seeking professional help can expedite the process, as they will ensure the application doesn’t contain any errors. And with as many as 40 reasons for an Alberta court to reject and return an application (and the application process having to start all over again if this is the case), having expert help seems like a no-brainer!
Once the application has been received by the probate court, the estate settling process can take as long as a year.
In terms of legal fees, these can vary from firm to firm and are usually dependent on a range of different factors.
The will probate in Alberta process can be complicated and time-consuming, and not the kind of thing most people want to face, particularly when grieving the loss of a loved one. But, with help from a local lawyer, you can breeze through it all with ease and concentrate on remembering your loved one, instead of worrying about settling their will and estate.
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