Apr 06, 2022
What's New in Ontario's Probate Laws for 2022?
Ontario’s Succession Law Reform Act determines how wills and estates are executed. Here are the new changes for 2022.
Have Any Questions? Book A Free Consultation
If you’re going through probate—or if you’ve just been named an estate executor and know that the probate process is coming up in your immediate future—you’ve probably noticed that a huge part of the job includes listing, categorizing, and appraising the assets that make up the estate.
We regularly share relevant information about wills and estates.
However, not all assets are created equal, and not all of them need to be probated. In British Columbia, the following assets need to go through probate:
An estate executor in British Columbia will need to list the value of the following assets and submit them to the probate court:
Assets that are jointly held—meaning that 100% of that asset goes to the surviving holder once the primary passes away—don’t need to go through probate. Neither do assets that are held in a living trust, or insurance policies with named beneficiaries.