Q&A for How to Avoid Probate in Canada

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If a partial distribution was made as a part of the deceased mother's will and the son dies before final distribution, how is the balance handled?

Community Answer

In most cases, the balance will be given to the next person listed in the document.

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Question

Can a person's RRIF be allocated in a will to someone prior to death and avoid having to be a part of any probate?

Community Answer

Registered accounts with named beneficiaries are not subject to probate calculation as it is not part of a taxable estate. If the named beneficiary is "Estate," then it will be subject to probate.

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Question

Without a named beneficiary, does life insurance and RRSP go to the probate?

Community Answer

Yes, without a named beneficiary any life insurance or RRSPs become part of the deceased's estate and are therefore subject to Estate Administration Tax.

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Question

A wife, as beneficiary of a life insurance policy, predeceases the husband. Upon the husband's death, how can their children receive the proceeds of the policy?

Community Answer

You must put the children down now as contingent beneficiaries. Contact the insurance provider of the policy.

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Question

How do I avoid probate in Canada if everything the deceased has is cash in a bank?

Community Answer

You will be able to avoid probate, but you will need to be cautious about how the cash is divided up afterwards. A huge addition of cash will probably put you in a different tax bracket, and you will have to pay more income tax as a result. You will need to find out what the tax burden will be on the amount you receive, if it's purely cash.

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Question

What happens when probate is started on a will and then another will is found?

Community Answer

The dates the documents were signed will determine the legitimacy. The later one should be the one that is used.

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Question

How do I keep my family home from probate? I would like it to continue to be a family home for my children and to let them decide what to do with it in the future.

Community Answer

Add their names to the title.Then it will automatically be their property and you will avoid probate, and also, depending on where you live, estate taxes.

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Question

Can a financial institution make a claim for the beneficiary's share of an estate?

Community Answer

All life insurance products such as deferred annuities or segregated funds are creditor-proof.

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Question

Is there a waiver of probate form or a waiver for banks to release bank funds in Canada?

Community Answer

In Canada, if the estate size is small, the beneficiary is the spouse and the strength of the relationship of the deceased and the beneficiary is know to be strong by staff of the bank, the financial institution can offer a waiver of probate on a case-by-case basis.

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How do I know how much tax I will pay in Ontario?

Community Answer

Ontario's official government website has an estate administration tax calculator.

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