Probate Lawyers in Calgary

Probate is the legal process of validating a deceased person’s will and authorizing the personal representative to administer their estate. It ensures the will is authentic and gives the personal representative the authority to pay debts, manage assets, and distribute the estate according to the deceased’s wishes. Probate is necessary as part of the estate planning process to protect the rights of beneficiaries, creditors, and other stakeholders while ensuring the deceased’s estate is handled lawfully and efficiently.

Assets that typically require probate include those solely owned by the deceased without a designated beneficiary. These may include real estate, bank accounts, investments, or vehicles held in the deceased's name. Probate is also needed when financial institutions or third parties require a Grant of Probate to release funds or transfer ownership. However, jointly held assets and accounts with named beneficiaries, such as life insurance policies or retirement accounts, usually bypass probate.

The process of receiving a Grant of Probate typically takes two to four months in Alberta court. In order to grant probate, a court must be convinced that the will is valid and the most recent version and that the named personal representative has the capacity to fulfill his or her duties, which may include distributing the deceased’s assets to legitimate beneficiaries.

Once probate is granted, a personal representative must fulfill several legal obligations towards the estate and any beneficiaries named. These include filing income taxes, dealing with bank accounts, financial issues, outstanding debts, and beneficiary disputes. In some cases, the beneficiaries can demand that the personal representative "pass accounts" or give an accounting of all receipts and payments from the estate. Finally, the estate assets must be distributed to the beneficiaries.