12/03/2024
When Someone Dies: Do You Need Court Papers for Their Will?
When a loved one passes away in Ontario, you might wonder if you need special court papers (called probate) to handle their will. The good news is - you don't always need these papers!
Here's when you can skip getting probate:
- If the person owned everything jointly with someone else
- If they had small bank accounts
- If they named specific people to get their life insurance money
- If they put their stuff in a special savings account called a trust
But you might need probate if:
- They owned a house by themselves
- They had big bank accounts in just their name
- There are questions about who should get what
The Simple Version:
Think of probate like getting an official stamp that says "this will is real." But if everything is already set up to go directly to the right people, you may not need that stamp.
Money Matters:
Skipping probate can save your family money. The court charges fees based on how much stuff the person owned. For example, if someone had $500,000 worth of things, probate could cost $7,500!
What To Do:
- Talk to a lawyer who knows about wills
- Keep good records of everything
- Make sure important papers are easy to find
- Tell your family your wishes
Remember: Every family's situation is different. Getting help from an expert can make things much easier during a tough time.
Want to learn more? Ask us about making your will and estate plan simple and clear.
