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Difference between revisions of "Ten Steps to Being an Executor"
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Ten Steps to Being an Executor (view source)
Revision as of 22:19, 21 March 2019
, 22:19, 21 March 2019→Step 7. If necessary, apply for probate
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As the executor, you may need to apply to court to '''probate''' the will. Probate is a legal process that confirms that the will is legally valid and can be acted on. Not all wills need to be probated. | As the executor, you may need to apply to court to '''probate''' the will. Probate is a legal process that confirms that the will is legally valid and can be acted on. Not all wills need to be probated. | ||
If everything’s in order, the court issues a '''grant of probate'''. This document allows other parties such as banks and the Land Title Office to be sure that you’re someone who’s authorized to deal with estate assets. See the section | If everything’s in order, the court issues a '''grant of probate'''. This document allows other parties such as banks and the Land Title Office to be sure that you’re someone who’s authorized to deal with estate assets. See the section on “[[Probating the Will]].” | ||
=== Probate might not be required for small estates === | === Probate might not be required for small estates === | ||
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=== If the will-maker owned land === | === If the will-maker owned land === | ||
If the will-maker owned land other than in joint tenancy, then probate is required. The Land Title Office will require you to provide a grant of probate to transfer the land. This is so even if the will-maker’s interest in land is less than the $25,000 threshold. | If the will-maker owned land other than in joint tenancy, then probate is required. The Land Title Office will require you to provide a grant of probate to transfer the land. This is so even if the will-maker’s interest in land is less than the $25,000 threshold. | ||
== Step 8. Deal with debts and taxes == | == Step 8. Deal with debts and taxes == | ||