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.

Subscribe to our blog today

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:

• Bank and investment accounts
• Insurance policies
• The contents of safe deposit boxes
• Jewelry and decorative items
• Clothing
• Artwork
• Furniture
• Real estate and property deeds
• Vehicles, boats, airplanes
• Electronics such as laptops, TVs, and sound systems
• Any other personal items, such as heirlooms or collectibles.

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.