What fees are typically associated with probate?

Fast & CompanyProbate

If you are responsible for the probate and administration of an estate here in British Columbia, you might want to know what you will wind up having to pay.  The estate may be subject to probate filing fees during the process of proving the validity of the will and the testator’s intentions. Any probate filing fees go to the Court … Read More

What is an estate freeze and how do you manage it?

Fast & CompanyEstate Administration

Some estate administrators in British Columbia might have to deal with an estate freeze. The term refers to the transfer of business assets while the business owner is still alive to the intended heirs for the purposes of business continuity. At the same time, the individual is given valued shares of the business locked-in at today’s worth, which has favorable … Read More

How do you confirm that you were named as executor?

Fast & CompanyProbate

Some British Columbia residents are surprised to learn that they have been named as executor of a deceased person’s estate. The way to confirm this is to view the original will. Wills may be kept in the testator’s home, at the lawyer’s office who drafted the testamentary document or in the decedent’s safety deposit box. When a thorough search fails … Read More

Let us assist you when a family member dies intestate

Fast & CompanyEstate Administration

Handling the administration of a loved one’s estate when there is no will can be fraught with confusion for many people. When coupled with the grief that accompanies the death, the emotions can be paralyzing. An estate without a will is considered intestate and is subject to the provisions of the Wills, Estates and Succession Act. This means that there … Read More

Probating an estate involving life tenants

Fast & CompanyGeneral, Probate

If you are involved in the probate of a will as an estate administrator, you may find yourself dealing with a situation of a life estate or life interest. These scenarios involve life tenants — usually a second or subsequent spouse of a decedent who has children from a prior relationship, although not always — who are given the usage … Read More

Turn to the professionals for estate administration

Fast & CompanyEstate Administration, General

If you are struggling with the administration of someone’s estate, it can be quite frustrating. You might want to rush it through to appease family members and/or beneficiaries, but that could come back to haunt you with the liability. There are many factors involved with estate administration, and some decedents’ estates can be quite complex, involving real estate holdings in … Read More

Dodging family feuds while administering an estate

Fast & CompanyEstate Administration, General

Elderly parents with several adult children sometimes elect to choose one child to be the executor of their estates when they die. This may give them comfort to think that they carefully selected the fairest and most responsible of their brood to carry out their final intentions, but this choice can foment bad blood between the siblings. Problems often arise … Read More

What must be done when probating an estate?

Fast & CompanyGeneral, Probate

If you are in charge of probating an estate, it can be confusing trying to remember to cross every “t” and dot every “i.” But yet it must be done correctly or you could face financial and legal liabilities for being remiss in your duties. Below are some important tasks to check off of your list. Make sure that you … Read More

How can I correctly value a decedent’s real property?

Fast & CompanyGeneral, Probate

If you are in charge of probating an estate, at some point you may need to valuate real estate that was owned by the decedent. It’s vital that this is accurately done in order for the heirs and beneficiaries to receive their fair share of the estate’s true value. A professional real estate evaluator can look at the net operating … Read More

Are you up to managing the estate of your relative?

Fast & CompanyEstate Administration, General

How convenient it would be if our loved ones always managed to have their affairs in tip-top shape at the time of their deaths. While some do manage to prepare for the inevitable and get their ducks in line, others’ personal affairs are in disarray when they pass on. If your spouse, parent or other loved one is one of … Read More