When someone passes away in British Columbia, their estate typically needs to go through a legal process called probate before assets can be distributed to beneficiaries.
What Is Probate?
Probate is the court process by which a will is officially recognized as valid and the executor is granted legal authority to administer the estate. In BC, this involves filing an application with the BC Supreme Court and receiving a Grant of Probate.
When Is Probate Required?
Not all estates need to go through probate. Small estates, jointly held assets, and assets with designated beneficiaries may pass outside of the probate process. However, most BC financial institutions require a Grant of Probate before releasing significant assets.
What Happens If There Is No Will?
If someone dies without a will (intestate), BC's Wills, Estates and Succession Act determines who inherits. An administrator must be appointed by the court, and the process is often more complicated than when a valid will exists.
Conclusion
Whether you're an executor facing a complex estate, or a beneficiary with questions about the process, Nanuq Law is here to help. Contact us today.