Are You An Executor?
Do you have questions about your role or about probate? We assist executors navigate the court system so they can confidently settle estates. Some of your questions about Manitoba Probate and Estates Law may be answered in our video series below. Or, you can contact us today.
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Probate & Estates Video Series
I've been named executor, what now?
If you’ve been named executor after a loved one’s passing, you have responsibilities, including obtaining probate from the courts. We offer a free step-by-step guide to help you through this process.
What is probate?
Probate is the legal process of proving a will. It ensures third parties, like banks, can rely on the will. Once probate is granted, the executor can administer the estate.
Is probate necessary?
Probate isn’t always needed. If the will meets legal criteria, it’s valid. However, probate is required when the deceased owned real property or when institutions request a grant of probate.
When is probate necessary?
Institutions, like banks, may require probate to protect themselves before releasing assets to the executor. It confirms the will is valid and protects the institution from liability.
What happens when someone dies without a will?
If someone dies intestate (without a will), the Intestate Successions Act governs how the estate is distributed. The court will appoint an administrator to handle the estate based on the act’s guidelines.
How much time does it take to probate a will?
The time varies. Gathering information can take weeks, and court approval can take 2-6 weeks. Overall, the process may take several months from start to finish.
How much does probate cost?
As of July 1st, 2020, Manitoba no longer charges probate fees, making the process more accessible.
How much are executor fees?
Executor fees depend on the complexity of the estate, not a set percentage. We can advise on fair compensation for executor duties in Manitoba.
Easy Explanations
What is an Executor?
The executor/trix is responsible for managing the estate. This includes tasks like arranging the funeral, identifying beneficiaries, retaining a lawyer, executing the Will and so on.
What is Probate?
Probate is required to transfer real estate, or funds held by institutions like banks and credit unions. However, probate is not always necessary.
Settling An Estate In Manitoba
No. But having a will is strongly recommended regardless if you have assets or not.
If a person dies without a Will, it means they have died intestate. And this means that the Intestate Successions Act will decide what happens to the deceased’s estate even though this may not be what the deceased or their family wants. Questions such as: who will file your final tax return, who will manage closing your accounts, and other administrative roles must be answered.
Wills are not regulated in Manitoba, and some lawyers will charge more or less than others. It depends on your estate’s complexity and may start from a few hundred dollars and run to many thousands of dollars.
Before anything else, you must ensure that the deceased’s debts are paid for and any other outstanding legal issues are settled. You are responsible for managing the deceased’s estate and tasks such as arranging funeral expenses, executing the will, identifying beneficiaries, retaining a lawyer and many more.
While an executor sees to it that a person’s will is carried out after they dies, a Power of Attorney legally acts for a person who becomes ill or incapacitated and could not make their own decisions.
When a person dies in Manitoba, the appointed executor of the deceased receives legal power over the deceased’s assets, according to the Wills Acts of Manitoba.
Although this executor automatically has power over these assets including bank accounts and investments, it’s not as simple as that. After all, a bank won’t just allow a stranger to walk in and give control of a bank account just because it says so on a piece of paper.
That’s what makes probate extremely important.
Letters of probate safeguard financial institutions such as banks, credit unions or investment companies to ensure that the will of the deceased is valid. These letters protect them from any liabilities from people who may question the executor’s power – or in instances when the executor acts inappropriately or illegally.
An executor must present letters of probate in our province if financial institutions such as banks, credit unions or investment companies require them to do so before releasing the deceased’s assets.
There are times when these institutions may not require a probate. A common example is when the deceased had a small estate (eg. they did not have a lot of money). There is no clear or set definition of what makes an estate considered small – they can release funds from $30,000 to $90,000. It all depends on the bank or the credit union.
The executor needs to apply for probate in court. Although it is possible to apply for one by yourself, we highly recommend working with a lawyer who can make the application for you. The court regularly rejects applications and a lawyer can save you a lot of time and trouble.
We highly recommend hiring an estate lawyer to deal with Wills and Estates in Manitoba. Here at TLR Law, we help our clients write their wills, and we provide executors, administrators, families and friends legal counsel when someone dies.
We are more than happy to answer any further questions you may have. We’re here to make it as easy as possible for you and your loved ones. Our legal advice starts at only $95. Give us a call and book your appointment today!
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