When a family loses a loved one, it can be an incredibly challenging experience. Not just emotionally but financially as well. Many families are often left in a lurch, not knowing for certain what plans their loved one had for the finances and non-monetary possessions they have left behind. If a Will is found, there may be uncertainty about the validity of the document.
Probate is the process of determining the authenticity of a Last Will and Testament. In this process, your lawyers will examine the contents of the Will and determine:
· The true net worth of the deceased individual.
· What taxes or expenses need to be paid.
· How the terms of the will need to be executed and by whom.
· Fair distribution of the deceased person’s assets to the intended beneficiaries.
How is the probate process done?
In Alberta, Canada, the Probate is a 4-step process:
· You start by gathering all of the important financial and legal documents of the deceased individual.
· You apply for the Probate by following the steps as instructed by your lawyer.
· If there are any problems with the documents, you will be asked to revise them and re-apply for the Probate.
· You will need to apply for and get the Clearance Certificate, if necessary, by the CRA.
· Once everything is in order, the Will is going to be executed.
At Worobec Law Offices, we can help you with the Probate process. Feel free to contact us to learn more.