Probate is triggered in Ontario when legal proof of an estate trustee’s authority (Certificate of Appointment of Estate Trustee) is required to manage or transfer the deceased’s assets. Key triggers include owning solely held real estate, financial institutions requiring a court order to release funds, or disputes regarding the will.
An estate goes to probate to provide a court-supervised legal process for validating a will (or applying state law if there's no will), appointing an executor, paying the deceased's debts and taxes, and formally transferring remaining assets to heirs, ensuring proper administration and legal authority for asset distribution. It acts as a safeguard to settle the estate, resolve disputes, and ensure legal compliance.
According to the Estate Administration Tax Act of Ontario, there is no probate fee for estates with assets up to and including $50,000. For estates valued at more than $50,000, tax is charged at a rate of 1.5%, so $15 for each $1,000 of the estate's value.
Assets possessed jointly with rights of survivorship in place pass directly to the living joint owner, which means they will never be subject to probate. This strategy is particularly effective for co-owned real estate, as it ensures a seamless transfer of property to the surviving owner.
Your executor. Remember, this is the person responsible for carrying out the terms of your will, paying your debts, working through family disputes, etc. After your death, your executor must secure the assets of your estate. They'll then determine whether your estate needs to go through probate.
One common method is to create a revocable trust. A revocable trust allows you to maintain control of your property during your life, and decide how the property is distributed after death, without needing to go through probate court.
Assets that are not subject to probate in Ontario include:
Assets that were held jointly (there are exceptions) CPP death benefit. RPPs, RRSPs, RRIFs, and TFSAs with a beneficiary designation or beneficiary declaration. RDSPs to which the deceased subscribed to but was not a beneficiary.
It depends on the account ownership and whether a beneficiary was named. Joint accounts and accounts with designated beneficiaries usually bypass probate, while solely owned accounts without beneficiaries typically go through probate.
Probate in Ontario Costs range from $1500 to $2500 + HST in legal fees, plus applicable Estate Administration Tax, calculated at $0 for every asset up to $50,000 and $15 for every $1,000 of assets over $50,000.
By waiting ten months, the executor has the chance to see whether anyone is going to raise an objection. There are six months from the date of the Grant of Probate in which to commence a claim under the Inheritance (Provision for Family and Dependants) Act 1975. Then a further four months in which to serve the claim.
Any assets that are titled in the decedent's sole name, not jointly owned, not payable-on-death, don't have any beneficiary designations, or are left out of a Living Trust are subject to probate. Such assets can include: Bank or investment accounts. Stocks and bonds.
If assets are situated outside the jurisdiction of metro cities where probate is mandated, the process can be avoided. For example, property located outside the municipal limits of Chennai, Mumbai, or Kolkata does not require probate under the Indian Succession Act.
Assets exempt from probate typically include those with named beneficiaries (life insurance, retirement accounts), jointly owned property with rights of survivorship, assets held in a living trust, and sometimes specific items like homestead property or a certain value of vehicles/household goods, depending on state law, allowing direct transfer to heirs without court involvement.
Whether probate is required depends on factors like state laws, the size of the estate, how assets are titled, and the estate planning tools used by the deceased. However, when probate is necessary, it's the legal procedure that validates a will, appoints an executor, and ensures proper distribution of assets.
This amount may vary from one organisation to another, so you will need to check with each one. Some banks and building societies will release quite large amounts without the need for probate or letters of administration.
In probate terms, house contents refer to all the personal possessions the deceased owned at home, known legally as “chattels.” This includes furniture, white goods, electronics, jewellery, artwork, clothing, appliances, ornaments and collections.
Assets subject to probate in Ontario
Investments - Includes stocks, bonds, trust units, options, and other investments owned solely by the deceased. Vehicles and Vessels - Cars, trucks, boats, motorcycles, trailers, and other vehicles owned solely by the deceased.
Probate is not always required in order to administer an estate. The type of assets in the estate usually determine whether an estate should be probated. If the deceased owned real property or assets held by a financial institution, the estate normally has to be probated.
To Save Money
Because probate can be a drawn-out legal process, it can also be expensive. Avoiding probate helps you save money by: Saving on attorney and court fees. A probate attorney can help ensure the most positive outcome from probate proceedings, but you do have to pay for those legal services.
6 options for passing down your home
1 in 2 people need probate after someone dies. Whether probate is needed depends on what the person owned when they were alive. For example, if they owned a property in their sole name, or had other high value assets, it's likely you'll need probate to deal with their estate. Visit our Do I need probate?