If you are named as administrator of an estate, there may be some assets that fall out of the breadth and scope of the probate process. These non-probate assets must be dealt with separately as the rest of the decedent’s estate goes through the probate process. Some non-probate assets may include the following: Assets owned solely by the decedent but … Read More
What Fees Are Typically Associated with Probate?
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?
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?
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
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
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
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
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?
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?
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