Probate is the legal process used to wrap up the estate of a deceased loved one. It is often required by financial institutions such as banks before accounts can be closed or assets distributed.
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Probate & Estate Administration
Cunningham & Co. would be happy to guide you through every step of the process, making probate and estate administration as smooth and stress-free as possible. Our goal is to handle the legal details so you can focus on what truly matters: your family and your memories.
What is probate?
Probate is the legal process used to wrap up the estate of a deceased loved one. It is often required by financial institutions such as banks before accounts can be closed or assets distributed. If your loved one owned property, a grant of probate may also be needed to transfer ownership according to the instructions in the will.
If your loved one passed without a will, the court can issue a grant of administration, allowing the estate to be properly managed and distributed under the rules of intestacy.
While it is possible to file for probate on your own, the process can be legally complex. A probate lawyer can help ensure that all forms are filed correctly, deadlines are met, and the estate is administered properly. Cunningham & Co. can provide guidance or full legal representation to file for probate or a grant of administration, protecting your rights and helping the estate move forward efficiently.
What is estate administration?
- Identifying and securing estate assets (bank accounts, property, investments, personal belongings)
- Reviewing the will and understanding the deceased’s wishes
- Paying outstanding debts, taxes, and expenses of the estate
- Filing for probate or a grant of administration if required
- Distributing the remaining assets to the rightful beneficiaries
Proper estate administration ensures the estate is handled according to the law and reduces the risk of disputes between beneficiaries.
Can probate be avoided?
- Holding assets jointly with right of survivorship (e.g., a jointly owned bank account or property)
- Naming beneficiaries on accounts, life insurance policies, and registered plans (e.g., RRSPs, TFSAs)
- Transferring property to a trust during your lifetime
- Keeping small estates below a certain threshold may allow banks to release funds without probate
Our estate planning lawyer can assist you with preparing your estate plan to minimize or avoid probate. Even when probate can be avoided, it is often advisable to consult a lawyer to ensure assets are distributed correctly and legally.
How long does probate take in BC?
- The completeness and clarity of the will
- The number and type of assets in the estate
- Whether there are any disputes between beneficiaries or creditors
- How quickly required documents and forms are prepared and filed
Having an experienced probate lawyer handle the process can help avoid delays and ensure probate is completed as efficiently as possible.
How much does probate cost in BC?
Probate in British Columbia costs approximately 1.4% of the gross value of the estate, plus a $200 filing fee for estates over $25,000.00.
This doesn’t include legal fees which vary depending on the complexity of the estate. Some lawyers charge a flat fee for simple estates, while others charge hourly rates for larger or more complex estates.
It’s important to understand that probate fees are typically paid out of the estate, not by beneficiaries personally. Consulting a lawyer early can help manage costs and prevent unnecessary expenses.
Best practices for handling probate
To protect yourself and the estate, consider these best practices:
- Keep detailed and organized records. Maintain copies of all communications, receipts, and decisions related to the estate.
- Complete all court forms accurately. It’s very important that you follow all of the necessary procedures.
- Notify all relevant parties as required under the law. A failure to properly notify a relevant party can lead t a grant of probate being contested.
- Address concerns promptly. If you think an executor is acting improperly, contact a lawyer immediately. Delaying may make it harder to recover assets or correct mistakes.
- Seek professional advice: The process can be complex. consulting an probate lawyer can help you navigate potential legal challenges, ensure compliance with the law, and avoid personal liability.
Common challenges during probate in British Columbia
Probate can become complicated, even for experienced executors. Understanding common challenges during probate in BC can help you anticipate issues and take action early.
1. Untimely Delays
One of the most frequent concerns is probate delays in BC. Delays can happen for many reasons, including missing documents, complicated assets, multiple beneficiaries, or disputes among heirs. These delays can slow down the distribution of assets, create frustration, and sometimes lead to additional legal costs.
2. Disputes Between Beneficiaries
Probate disputes in BC sometimes arise when beneficiaries disagree about how the estate should be managed or distributed. Common areas of conflict include disagreements over the valuation of assets, interpretation of the will, or allegations of executor misconduct.
3. Executor Responsibilities and Challenges
Executors have a legal duty to manage the estate responsibly, including collecting and securing assets, paying debts, taxes, and expenses, keeping accurate records and providing accounting to beneficiaries, and distributing assets according to the will or intestacy rules. Even when executors act in good faith, fulfilling these responsibilities can be complex and stressful. It’s common for executors to feel overwhelmed, especially when disputes or delays arise.
4. Complex Assets and Financial Issues
Estates can include real estate, business interests, cryptocurrencies, investments, or assets held in multiple accounts. Properly managing and valuing these assets requires careful attention. Failure to do so can cause probate disputes in BC and potentially reduce the estate’s value.
5. Creditors and Tax Obligations
Outstanding debts, taxes, or claims by creditors can complicate probate. Executors must ensure all liabilities are addressed before distributing assets, which can be time-consuming and may trigger delays if documentation is missing or contested.
Facing these challenges does not mean you have to navigate probate alone. At Cunningham & Co., we help executors and beneficiaries understand their rights and responsibilities, address delays or disputes, and ensure the estate is managed properly. With legal guidance, you can resolve issues efficiently, minimize conflicts, and protect the value of the estate.
Do you need a probate lawyer in BC?
Handling probate or administering an estate can be overwhelming, especially during an already difficult time. At Cunningham & Co., we guide you through every step of the process — from preparing documents needed for filing for probate or a grant of administration, to ensuring the estate is properly managed and assets are distributed according to the law.
Book a free consultation today to discuss your situation. We’ll help you understand your options, answer your questions, and provide clear, practical guidance so you can move forward with confidence.
