Probate Lawyer Toronto​

Probate, officially known as “Estate Administration Tax” in Ontario, is a legal process where the court validates a will, and the executor is given the authority to administer the deceased’s estate. This process ensures that the will is genuine, debts and taxes are paid, and the remaining assets are distributed according to the will or the Succession Law Reform Act if there’s no will.

Probate is not always required but is necessary in most cases, especially if the deceased held assets solely in their name or if financial institutions, real estate, or other entities require a Certificate of Appointment of Estate Trustee to release assets or transfer ownership.

The duration of the probate process can vary significantly, from a few months to over a year, depending on the complexity of the estate, the accuracy of the documentation provided, and the court’s caseload. If there are no issues, simple estates may be settled within 6 to 8 weeks, while more complex cases can take longer.

In Ontario, the Estate Administration Tax is calculated based on the estate’s total value. As of January 1, 2020 update, the tax is $5 for every $1,000 of estate value up to $50,000 and $15 for every $1,000 after that. There are no taxes on the first $50,000 for estates valued over this amount.

More information can be found here: https://www.ontario.ca/page/estate-administration-tax

Certain estate planning strategies, such as joint ownership with the right of survivorship, designating beneficiaries on financial products like life insurance, and creating trusts, can minimize the assets passing through probate, potentially reducing the estate administration tax and simplifying the distribution process.

A probate lawyer in Ontario guides executors and beneficiaries through the probate process, providing legal advice, preparing and filing necessary documents, handling estate taxes, resolving disputes, and ensuring the estate is administered according to the will or the law if there’s no will.

When searching for a probate lawyer, consider their experience in estate law, how they handle probate cases, their fees, and their availability to attend to your needs. Additionally, it can be helpful to read reviews, request referrals, and arrange consultations to find a lawyer with whom you feel comfortable working.

To start the probate process, you’ll typically need the original will (if available), a death certificate, a detailed list of the deceased’s assets and liabilities, and personal information about the deceased and their beneficiaries. Your probate lawyer can help you gather and prepare the necessary documents.