What Assets Are Subject To Probate in Ontario

What Assets are Subject to Probate in Ontario

In almost all cases assets are subject to Probate in Ontario except 1) Real Estate is located Outside Ontario 2) Assets are jointly held, such as a Joint Bank Account 3) Registered Assets with a named beneficiary 4) Insurance Policies with a named Beneficiary 5)CPP or Pension Plan with a named beneficiary then you do not need to Probate..

Also in rare situations when is probate not needed in Ontario, is if the assets are small in number and value. For instance, the deceased only left a car behind, in such a situation executor can have the Car transferred at Service Ontario without the need of a Probate as long as the executor have the notarized copy of the Will or original Will, Ids, Proof of insurance, car registration papers & death certificate.

Do You Need to Probate if there are No Assets?

No. There is no legal requirement or need to go through the process of probate if there are no assets to probate.

Bank Account with Minimum Balance

Interestingly, we have found if there was a single bank account with a minimum balance, some banks may or may not be willing to transfer the funds. If the bank is willing to transfer funds, the bank would required suitable indemnities & Personal Guarantees along with original or notarial copy of the will.  

It is a discretion of the bank to transfer funds without Probate. However, recent trend is that Banks would not be willing to transfer funds to another account without a probate Order or certificate of Appointment Estate Trustee. The concept of probate is court validating that the will in question is the actual last will and testament of the deceased, therefore if an Executor goes to the bank to transfer bank account the Bank Representative would not know if the Will presented at the Bank was the actual and Last Will & Testament of the Deceased.  Hence Probate is mandatory if the deceased has any assets.

The Following List of Assets Not Subject to Probate in Ontario

  1. Real Estate Property outside Ontario
  2. Canada Pension Plan (CPP) death benefits
  3. Assets that pass by beneficiary designation do not need to be probated such as Jointly owned accounts, RRSPs, RRIFs, TFSAs with a named beneficiary other than ‘Estate’.
  4. Insurance proceeds paid to a named beneficiary other than ‘Estate’
  5. Real Estate where the title of the property is owned as “Joint Tenants”. In such situation Probate is not required is when both spouses are on the title of the Property as “Joint Tenants” in such a situation, the property will automatically be transferred from the deceased partner to the other. The process to transfer the property from the deceased to the other partner is to appoint a Real Estate Lawyer who will file a survivorship Application, along with the copy of the death certificate. In such a situation you do not need probate but you need to file a Survivorship Application to transfer the estate. At Shaikh Law, we only charge $450 + HST for a Survivorship Application.

 RESP is not required to be probated if both partners are joint subscribers of the plan, such as your spouse or common-law partner. If RESP is under a single subscriber’s name then RESP would need to be probated. RESP is an asset which until paid to the Beneficiary for school purpose remains the asset of the estate.

Estate Lawyer Fees For Probate in Ontario

What Our Estate Lawyer Toronto Can Do For You

Probate with a Will

PROBATE WITHOUT A WILL​

Contested probate

01

Professional

We deal with every file Professionally 

02

Focused

Lazer Focused Approach to help our Clients

03

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Serious about  delivering results for our clients

Our Estate Lawyer Fees Structure is Transparent in accordance with the Law Society Rules 4.2-2.1

Cheap Estate Lawyer Fees for Probate in Ontario

Small & Simple Estate Less than $50,000/-

Our Estate Lawyer Fees small & simple estate valued less than $50,000/- with one beneficiary only.

With a Will
Legal Fees is $1,500.00 +Tax 

Without a Will
Legal Fees is $1,800 + Taxes

The Legal Fees are inclusive of Law Office Disbursements.

NOT INCLUDED IN LEGAL FEES;

  • Probate Tax/Court Fees;
  • Cost of Process Server $90

Simple Probate with a Will

Our Estate Lawyer Fees for Probate in Ontario where the estate value is more than $50,000 or with multiple beneficiaries and multiple estates 

With a Will
Legal Fees is $1,800 +Tax 

The Legal Fees are inclusive of Law Office Disbursements.

NOT INCLUDED IN LEGAL FEES;

  • Probate Tax/Court Fees;
  • Cost of Process Server $90
Lawyer Fees for Probate in Ontario
Estate Lawyer Fees for Probate in Toronto without a Will

Simple Probate but Will NOT AVAILABLE

Our Estate Lawyer Fees for Probate in Ontario where the estate value is more than $50,000 and Will is not available. 

Legal Fees is $2,500 +Tax 

The Legal Fees are inclusive of Law Office Disbursements.

NOT INCLUDED IN LEGAL FEES;

  • Probate Tax/Court Fees;
  • Cost of Process Server $90
  • Cost of Publication if required
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