If you have been named executor or personal representative of a will, you must ensure the estate administration process is seamless. The best way to guarantee this is to consult a seasoned probate lawyer in Calgary.
In this comprehensive guide, we explore the basics of probate. We’ll discuss what it is, how it works and what you can do to make the process smoother.
What Is a Probate?
Probate is a legal procedure that validates a will’s authenticity and confers authority upon an executor to manage a deceased individual’s estate. Throughout the estate administration process, the executor oversees the distribution of assets to designated beneficiaries, resolves any outstanding taxes and debts and addresses other estate-related affairs.
It’s essential to note that when someone passes away without a will or has not designated an executor, the probate appoints administrators to fulfill the duties typically carried out by executors.
How Do Probate Lawyers in Calgary Help?
A probate lawyer in Calgary provides invaluable assistance throughout the estate administration process. Here’s how they help:
- Ensuring Compliance: You, as an executor or administrator, have fiduciary duties to fulfill, including managing and distributing the deceased’s assets according to the will or applicable laws. A probate lawyer in Calgary can explain and guide you on fulfilling these responsibilities properly. They will ensure you comply with all applicable laws and regulations throughout the probate process.
- Avoiding Errors and Delays: Mistakes or oversights in probate proceedings can lead to costly delays and legal complications. A probate lawyer helps you avoid common pitfalls, ensuring a smoother and more efficient estate administration.
- Protecting Assets: Your probate lawyer in Calgary can advise on strategies to protect the estate’s assets from unnecessary taxation, creditor claims and other potential threats, maximizing the estate’s value for beneficiaries.
- Resolving Disputes: If disputes arise among beneficiaries or creditors, a lawyer can provide mediation and negotiation services to help resolve conflicts amicably and prevent costly litigation.
- Planning Taxes: Probate lawyers are well-versed in estate tax laws and can help you develop tax-efficient strategies to minimize tax liabilities and maximize the estate’s value for beneficiaries.
- Improving Beneficiary Communication: A probate lawyer in Calgary can also facilitate communication with beneficiaries, providing updates on the probate process, answering questions and addressing concerns. Clear communication helps minimize beneficiary misunderstandings and disputes, promoting a smoother probate administration.
- Providing Peace of Mind: Enlisting the services of a skilled lawyer gives you confidence that the estate administration process will be handled professionally, providing peace of mind during a challenging time.
Understanding the Probate Process
As the chosen executor, you must apply at the local Surrogate Court to start the probate process. It provides important documents such as the original will and a list of what the person owned and who should inherit it. These documents help verify whether the will is valid and whether the executor can handle the estate.
The time it takes for probate varies. Some estates wrap up quickly, in about eight weeks. Others, especially those with many assets or complicated arrangements, can take much longer – even up to a year.
Once probate is finished, the Surrogate Court gives the executor permission with a Grant of Probate or appoints an administrator if needed. These documents officially allow the executor or administrator to manage the estate according to the will (or the law if there is no will).
Consult an Experienced Probate Lawyer in Calgary
One80 Law Group is a virtual law firm that guides you through every aspect of the probate and administration process. Our lawyers assist executors by clarifying the probate process, preparing and filing paperwork, determining which assets need probate and providing guidance on the executor’s duties.
Fill out our contact form to schedule a consultation.