Probate is the legal process by which the will of a deceased person is authenticated and administered, subject to the just debts and taxes owed at the time of death, and the property distributed according to its terms. Probate may also involve the determination of heirs according to laws of intestate succession where an individual died without a will.
Estate Administration Law
Whether a loved one has named you as executor in their Will or whether there is no valid Will and you have been appointed to administer the estate by a court, your obligations as an executor are crucial and it is important that they be performed with the utmost of care and attention to detail. We can assist you with carrying out these obligations, and provide peace of mind when it is needed most.
Estate Planning Law
Nobody likes to make plans for death. But at the same time, nobody wants to leave their family with unanswered questions about their intentions – or worse, money being lost or tied up in court because your intentions were not clear. If you have dependent children, it’s even more important to have a solid plan written into your will to ensure they’re taken care of.
REAL ESTATE LAW
The purchase or sale of residential real estate is a huge decision to make – especially in Toronto. Whether you’ve found the perfect location for your home or you need to sell property as a part of the estate administration process, we work hard to be the firm that makes things happen, the way buyers, sellers, borrowers, lenders and developers need them to happen.
Whether you’re looking to strengthen your relationship with a co-habitation agreement, or you’re looking to plan a clean break with a separation agreement and a divorce, it’s important for you to have a lawyer on your side.
What is Probate, and When is it Necessary?
Probate also serves to verify that an executor has the authority to act for the estate of the Deceased.
It is important to note that a will does not preclude the need for probate. Whether or not your loved one’s estate needs to go through the probate process depends on what assets were owned by the deceased, and how they were owned.
Often, executors will require an estate to go through the probate process before any funds or assets in the Deceased’s name can be accessed for sale and/or distribution. This can include:
- Real estate owned by the Deceased not as a joint tenant
- Funds at a bank or other financial institution in the Deceased’s name not as a joint owner
It might also be prudent to put an estate through the probate process if estate litigation is foreseeable.
Contact Zeeshan S. Baig, Barrister & Solicitor if you have any questions
Click here, or on the image above, to download your free introductory guide to probate law for realtors and real estate investors. Z.
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