What is Probate?
Probate is the process of proving the validity of a will after a person dies
The purpose is to make it clear who inherits the deceased’s assets and to make sure that all taxes and debts have been paid before the assets are distributed according to the will and/or trust. The executor of the estate must:
- Prove in court that the deceased person’s will is valid
- Identify the deceased person’s assets
- Have the assets appraised
- Pay any outstanding debts and taxes, and
- Distribute the remaining property in accordance with the will/provincial law
Is Probate Always Necessary?
Going through probate court is not always necessary. Whether an estate must go through probate depends on the assets of the deceased person and how they were titled. Usually probate court proceedings are necessary if the deceased owned assets that are worth more than $25,000. An experienced probate lawyer will be able to guide you in these matters.
Assets that are not subject to probate are: assets in a trust, assets owned in joint tenancy, assets for which a beneficiary has been named, and real estate that is subject to a transfer-on-death deed.
Our lawyers at Yaletown Law Corporation can help you secure your assets and keep as much as possible within your family.
Losing a loved one is difficult. The emotional toll can be difficult enough on its own; however, you also have the taxing probate process to contend with. Probate is the process of proving a loved one’s will. This can be difficult to deal with for those inexperienced and can become even more complicated if the will is contested, leading to probate litigation. Finding a lawyer experienced with probate law is often beneficial for your peace of mind. If you are searching for an estate probate lawyer in Vancouver, BC then consider contacting Yaletown Law Corporation. Call today to receive your Initial consultation.
Importance of Consulting a Probate Lawyer
Probate can be intimidating for those unfamiliar with it. Whether you are facing the process for the first time or have gone through it several times before, it can be beneficial to find a probate lawyer. This is for several reasons:
Call Today To Speak To A Probate Lawyer
Working with a probate lawyer you can trust can help provide you with peace of mind. Our lawyers at Yaletown Law Corporation can aid you throughout the probate process. Consider calling us today to receive your initial consultation.