Probate Lawyer Vancouver

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probate@kbprobate.com

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OVERWHELMED WITH THE LOSS OF A LOVED ONE? RESPONSIBLE FOR THEIR ESTATE?

Coping with the loss of a loved one is one of life's biggest challenges. For family members who are executors, guardians and trustees and who are still grieving, navigating the process can be complicated and overwhelming.

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WHAT OUR CLIENTS ARE SAYING ABOUT US

My husband was diagnosed with a terminal illness and given three months to live. We met with Ian and he helped guide us through my husband's final days and create plan for his estate. Ian's calm demeanour and ability to provide his advice in easy to understand language was a huge gift to me. I don't know what I would have done without him. I am so grateful that I could love my husband and know that everything else was taken care of.

R. Johnson

When my husband passed we had multiple properties, a couple of businesses, children that did not get along and bills that needed to be paid. I cannot remember a more difficult time in my life. The lawyers and staff at Kerfoot Burroughs were so caring and compassionate. They were able to sort out our priorities and help us with the estate process. While it took some time and was tough to go through we were able to finish the estate and continue as a family. I can highly recommend them.

J. Gill

Ian and his team were great to deal with. My mother's estate was pretty straightforward and they were able to get things done quickly and efficiently. I'll keep this review short and simple just like the probate process was for us.

T. Georgeson

Helping You.

Hi! I’m Ian Burroughs. My law firm Kerfoot Burroughs LLP is dedicated to providing guidance, straightforward advice and a supporting hand to help you every step of the way.

Our legal team has a deep understanding of the emotions and stresses that arise following the death of a loved one. As a small firm, we provide a comfortable atmosphere where you can find comprehensive and pragmatic assistance.

You may be relieved to know there is often no rush to administer the estate. There are many steps to take, but we can bring order to a complicated process and walk you through the tasks at the right time and pace. We can also create a written action plan to do so you can be clear on what needs to be done and when.

Our goal is for you to feel as comfortable as you can, knowing we have all the bases covered and that you are being backed by legal advisors you can trust.

A lot of help or just a little.

Some of our clients are executors for the first time. Others have been through the process before, but may be working with a larger, more complex estate that is more than they can manage. We have helped countless client through the estate administration process, with a particular focus on administering high net worth estates and those with complex family systems.

If you are an executor, we know what must be done, how to do it efficiently, and how to advise you to carry out your fiduciary duties in a way to minimize liability and future legal problems. Our lawyers draw on their depth of experience to ensure as efficient and streamlined an administration as possible.

Beneficiaries, executors, trustees and guardians may only be faced with navigating estate issues only once in a lifetime. Knowing what to do and where to start can be stressful and overwhelming. Our legal team is here to provide support. We have decades of experience in estate and trust administration and can help you navigate the legal issues and processes.

WHAT TO EXPECT FROM YOUR FREE CONSULTATION

Clarity

A simple explanation of the probate process, what to expect, and the information you are required to provide.

Answers

Quick answers to any challenges unique to your estate.

A Plan

You will receive a checklist of action items to move forward.

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WHAT TO EXPECT FROM YOUR FREE CONSULTATION

Clarity

A simple explanation of the probate process, what to expect, and the information you are required to provide.

A Plan

You will receive a checklist of action items to move forward.

Answers

Quick answers to any challenges unique to your estate.

Experience

Kerfoot Burroughs has decades of experience available to you.

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Services

We advise executors in obtaining court approval of their administration, preparing accounts (including estate accounts) for court, and all other aspects of estate and trust administration.

We can help with:

Conducting a thorough search for the Will and all estate assets and creating a detailed inventory

Creating a long term plan for administering the estate

Paying the estate's liabilities

Preparing and submitting the estate accounting for approval

Identifying and valuing assets

Collaborating with the estate representative to administer the estate

Assisting with the transfer of assets to the beneficiaries

Conducting a thorough search for the Will and all estate assets and creating a detailed inventory

Creating a long term plan for administering the estate

Paying the estate's liabilities

Preparing and submitting the estate accounting for approval

Identifying and valuing assets

Collaborating with the estate representative to administer the estate

Assisting with the transfer of assets to the beneficiaries

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FAQ's

What does an executor do?

An executor’s financial duties can be summarized as:

• obtaining and probating the will of the deceased, if required;

• advertising for and notifying creditors and beneficiaries;

• identifying the assets and liabilities of the estate;

• protecting the assets of the estate;

• paying the debts of the estate and collecting any funds owed to the estate;

• filing the final tax returns of the estate;

• verifying and dealing with claims against the estate;

• liquidating and distributing the assets of the estate; and

• accounting for the administration of the estate.

There are also significant non-financial responsibilities including making funeral arrangements, care for pets, social media accounts, redirecting mail and dealing perishable items to name a few.

Can I get paid for being an executor?

The short answer is yes; you can get paid for being an executor.

Being an executor can be a difficult and unrewarding task. It requires and attention to detail and is a position of high responsibility and trust.

The law in British Columbia states that as an executor you can charge a maximum initial fee of 5% of the value of the estate and up to 0.4% annually as a care and management fee if the estate requires any long-term administration. These are maximums however and rarely are awarded except in complex estates.

Factors that go into determining an appropriate level of compensation can be summarized as:

• the time and effort expended by the executor

• the size and complexity of the estate

• the skill and ability of the executor

• whether anyone contested the estate

• whether the executor did all the work or hired professionals to do the work of the executor

What happens if there is no Will?

There is also a prioritized list of individuals who can apply to become the administrator (the name given to the executor of an estate with no Will) with priority given to spouses and adult children or their nominees. In certain cases, an administrator may have to post a bond to guarantee their performance.

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FAQ's

1. What is Probate?

Probate is the court process that:

• certifies the validity of the deceased’s last Will

• certifies the appointment of the named executor and their authority to deal with the assets and liabilities of the deceased’s estate

• confirms the appointment of a named guardian for any minor children

• identifies the assets and liabilities of the estate

• verifies that proper Notice has been given to all beneficiaries and next of kin

• requires the payment of the Probate Fee before obtaining the Grant of Probate

2. What is and how much is the Probate Fee?

The Probate Fee is a fee payable from the estate to the Provincial Government of British Columbia before a Grant of Probate can be issued by the courts.

The Probate Fee is calculated as follows:

• Basic Fee $200

• 0.6% on the value of the estate between $25,000 - $50,000

• 1.4% on the value of the estate over $50,000

There is no Probate Fee for estates with a value of less the $25,000.

The "value of the estate" is defined as the gross value, of:

• the real estate and tangible (physical) personal property in British Columbia, and

• if the deceased was a resident of British Columbia, the intangible personal property of the deceased, wherever situated (i.e banks accounts and investments).

An estate of $1,000,000 would pay $13,650.00.

3. When is an executor required to get Probate?

Not all estates require and executor to probate the Will. Given the increase in value in real estate and the complexity of individuals’ financial holdings, the number of estates that can be resolved quickly and informally without probate are limited. Whether probate is required depends largely on:

• the nature of the assets in the estate;

• whether the assets are in joint names and with who;

• if the beneficiaries are minor children; and

• whether the Will, the choices or actions of the executor, may be contested by one or more beneficiaries or other people.

Generally, financial institutions and land registry offices will require probate to confirm that the executor is authorized to receive the assets and funds that belonged to the deceased person before releasing them or allowing a change in ownership.

4. What does an executor do?

An executor’s financial duties can be summarized as:

• obtaining and probating the will of the deceased, if required;

• advertising for and notifying creditors and beneficiaries;

• identifying the assets and liabilities of the estate;

• protecting the assets of the estate;

• paying the debts of the estate and collecting any funds owed to the estate;

• filing the final tax returns of the estate;

• verifying and dealing with claims against the estate;

• liquidating and distributing the assets of the estate; and

• accounting for the administration of the estate.

There are also significant non-financial responsibilities including but certainly not limited to making funeral arrangements, care for pets, social media accounts, redirecting mail and dealing perishable items to name a few.

5. If everything is in joint names does an executor still have to get Probate?

Arguments over who actually owns or gets the money from jointly owned property creates a significant amount of estate litigation. The question of who owns joint property can be very unclear. It is a serious mistake to assume that all property in joint names becomes the property of the surviving co-owners upon the death of deceased. This is especially true if the property is in joint names with the deceased’s children. Care should be taken to examine the ownership and intent of the deceased and any supporting documentation before including or excluding jointly held property from an estate. Joint ownership structures can have serious tax and estate administration implications for all parties involved.

6.. Can I get paid for being an executor?

The short answer is yes; you can get paid for being an executor. Being an executor can be a difficult and unrewarding task. It requires and attention to detail and is a position of high responsibility and trust. The law in British Columbia states that as an executor you can charge a maximum initial fee of 5% of the value of the estate and up to 0.4% annually as a care and management fee if the estate requires any long-term administration. These are maximums however and rarely are awarded except in complex estates. Factors that go into determining an appropriate level of compensation can be summarized as:

• the time and effort expended by the executor

• the size and complexity of the estate

• the skill and ability of the executor

• whether anyone contested the estate

• whether the executor did all the work or hired professionals to do the work of the executor

7. What happens if there is no Will?

If the deceased has left no Will (or a Will that is not valid) they are said to have died “intestate”. In that case, as deceased has no written record of their wishes, the government has a formula for how an estate will be administered and distributed. This formula is found in the Wills, Estate and Succession Act, a provincial statute. There is also a prioritized list of individuals who can apply to become the administrator (the name given to the executor of an estate with no Will) with priority given to spouses and adult children or their nominees. In certain cases, an administrator may have to post a bond to guarantee their performance.

8. How do I apply for a Grant of Probate?

The Supreme Court of British Columbia has a set of court forms that must be used for all probate applications. There are several forms and not all forms are used in every application. Some forms are simple and some are very complex. The choice of which form to use will depend on the estate, including whether the executor being appointed ‘with a will’ or ‘without a will’ and other factors. Depending on the estate, you may need to:

• obtain consents from other people to your appointment;

• file renunciations (resignations) for any named executor who does not wish to serve;

• post a bond, or, apply for an order dispensing with one (particularly if there is no Will or if the executor lives outside of B.C.).

Besides the application itself, you must prepare and file the required supporting documentation. This includes, the original will and originals of any codicils, an executor’s affidavit confirming several matters and a sworn listing of the assets and liabilities of the estate. You must complete the court forms:

• accurately,

• completely, and

• consistently (all information the same in all places)

or the Probate Registry may reject your application.

9. Do I need a lawyer to get Probate?

You do not always need a lawyer to probate an estate – it is possible to ‘do it yourself’. However, dealing with the courts, the paperwork and the beneficiaries can be a complex, confusing and challenging process, and most people do seek legal assistance with probate. If there is no will, and it is necessary to deal with multiple consents and renunciations, or apply to the court for an Order to dispense with a bond, or the actions of the executor are likely to be challenged or closely scrutinized (for instance by a sibling who is a beneficiary but not a co-executor), then we strongly recommend that you seek professional assistance with probate and all other aspects of the administration of the estate. Also, if delay is likely to cost money (for instance in a falling real estate or stock market) then hiring a lawyer to move it along faster is usually very cost-effective. Remember, each month of delay costs the beneficiaries income – so trying to do it yourself but slowing down the probate process is rarely a good idea.

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