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Difference between revisions of "Probating the Will"
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[[File:beinganexecutor-contents5.png|thumb|275px|right| link=| <span style="font-size:50%;">Image via www.flickr.com</span>]]As the executor, you may need to '''probate''' the will in order to distribute the estate. | [[File:beinganexecutor-contents5.png|thumb|275px|right| link=| <span style="font-size:50%;">Image via www.flickr.com</span>]]As the executor, you may need to '''probate''' the will in order to distribute the estate. | ||
== What is probate? == | |||
In the probate process, you submit special forms and the original will to court. If everything is in order, the court issues a grant of probate. The executor can then show a notarized copy of the grant of probate to banks and other asset holders, confirming that the executor has the authority to act for the estate. | In the probate process, you submit special forms and the original will to court. If everything is in order, the court issues a grant of probate. The executor can then show a notarized copy of the grant of probate to banks and other asset holders, confirming that the executor has the authority to act for the estate. | ||
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}} | }} | ||
== How do you start the probate process? == | |||
You must notify several people that you intend to apply for probate. To do so, complete a copy of the [http://www.ag.gov.bc.ca/courts/forms/probate/P1.pdf court form P1, Notice of Proposed Application in Relation to Estate]. Together with a copy of the will, mail or deliver the court form to: | You must notify several people that you intend to apply for probate. To do so, complete a copy of the [http://www.ag.gov.bc.ca/courts/forms/probate/P1.pdf court form P1, Notice of Proposed Application in Relation to Estate]. Together with a copy of the will, mail or deliver the court form to: | ||
* each person named in the will as executor or alternate executor, | * each person named in the will as executor or alternate executor, | ||
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You must deliver this notice at least 21 days before submitting the probate application to court. | You must deliver this notice at least 21 days before submitting the probate application to court. | ||
== What documents are required for probate? == | |||
A typical probate application will involve these documents, which you must file with the Probate Registry: | A typical probate application will involve these documents, which you must file with the Probate Registry: | ||
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}} | }} | ||
== Do you need witnesses when you sign the forms? == | |||
You will need to sign some of the documents in front of a lawyer, notary public, or a commissioner for taking affidavits. All court registries have a commissioner for taking affidavits, and some community groups do as well. When you sign, it means you are swearing or affirming that the information you are providing in the document is true. | You will need to sign some of the documents in front of a lawyer, notary public, or a commissioner for taking affidavits. All court registries have a commissioner for taking affidavits, and some community groups do as well. When you sign, it means you are swearing or affirming that the information you are providing in the document is true. | ||
== What assets and liabilities do you need to list? == | |||
The Affidavit of Assets and Liabilities in [http://www.ag.gov.bc.ca/courts/forms/probate/P10.pdf Form P10] or [http://www.ag.gov.bc.ca/courts/forms/probate/P11.pdf P11], one of the probate forms, includes a statement that has three parts: | The Affidavit of Assets and Liabilities in [http://www.ag.gov.bc.ca/courts/forms/probate/P10.pdf Form P10] or [http://www.ag.gov.bc.ca/courts/forms/probate/P11.pdf P11], one of the probate forms, includes a statement that has three parts: | ||
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}} | }} | ||
== How long will your application take? == | |||
The time frame for the Probate Registry to review and approve probate applications can vary considerably, but generally the review process takes two to three months. | The time frame for the Probate Registry to review and approve probate applications can vary considerably, but generally the review process takes two to three months. | ||
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Once the application is reviewed, the Probate Registry will assess the probate fees that are payable. | Once the application is reviewed, the Probate Registry will assess the probate fees that are payable. | ||
== What are the probate fees? == | |||
Probate fees are based on the gross value of the estate assets that were located in British Columbia when the will-maker died. | Probate fees are based on the gross value of the estate assets that were located in British Columbia when the will-maker died. | ||
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For example, if the gross value of an estate is $125,000, the probate fees will be $1,200. This fee is in addition to the court filing fee of $214. | For example, if the gross value of an estate is $125,000, the probate fees will be $1,200. This fee is in addition to the court filing fee of $214. | ||
== What if your probate application is rejected? == | |||
If your application is rejected, the Registry staff will tell you the reason. You can correct the problem and re-apply. | If your application is rejected, the Registry staff will tell you the reason. You can correct the problem and re-apply. | ||