AzPerLegal Services IncAzPerLegal Services Inc
  • Home
  • Business/Corporate
  • Court Agency/Enforcement
  • Uncontested Divorce
  • Wills & Estates
  • Landlord/Tenant Disputes
  • Debt Collection
  • Blog
  • Contact
+403 629 5702
cherrington@azperlegal.com

The Next Step When Your Loved One Dies

Published on March 1, 2018

PROBATING THE ESTATE IF THERE IS A WILL

ADMINISTERING THE ESTATE WHEN THERE IS NO WILL

In Alberta, when an individual passes away, all of their financial assets are essentially “frozen” and access to them will only be granted by the affected financial institutions through the process known as probating/administering an estate. If an individual has a valid Will in place, the individual named as the executor is tasked with obtaining a Grant of Probate from the Court. Or when an individual has passed away without a Will, either an individual with an established right to “act” as executor, or the Public Trustee of the Government of Alberta, will be tasked with obtaining a Grant of Administration from the Court. In the case of a Grant of Administration, a formula exists under the laws of the Province of Alberta which helps to determine who can apply for the Grant of Administration. Oftentimes, it would be either the spouse of the deceased, the children of the deceased (if they are over the age of 18) or the siblings of the deceased. In the event neither of these circumstances apply or in the event, there is no family member eligible to apply as executor, the Public Trustee of the Government of Alberta may be appointed to distribute the estate.

Distributing the estate means, among other things, selling or transferring the assets (including personal property – furniture, vehicles, etc.) and/or any real property (house, undeveloped land) and dividing up the estate (what is called the “residue” – the proceeds from the sale of the assets/land and the “money” – bank accounts, investments, etc.), according to the terms of the Will or when there is no Will, in accordance with the requirements of the Wills and Succession Act. There are numerous other tasks associated with probating/administering someone’s estate and a few examples include filing the deceased’s individual’s current income tax return, filing the estate’s income tax return, paying any debts of the deceased from the deceased’s accounts, paying any income tax owing, applying for a death benefit, etc.

Tags: Wills & Estates
Christine Herrington
Previous post What Is A Personal Directive (Living Will)? Next post An Executor’s Checklist – The Responsibilities Of An Executor Of An Estate

Related Articles

What Is A Personal Directive (Living Will)?

February 1, 2018Christine Herrington

What Is An Enduring Power Of Attorney?

January 1, 2018Christine Herrington

What is a Will?

December 14, 2017Christine Herrington

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • To Sue or Not to Sue? Things to Consider
  • Keeping Your Corporation Current – Filing Your Annual Returns
  • Part II: Incorporation- To Incorporate or Not to Incorporate. I am Opening My Own Business!!!
  • Part I: Sole Proprietorships- I am Opening My Own Business!!! To Incorporate Or Not to Incorporate
  • I am the Personal Representative of an Estate. Can I Pay Myself?

Archives

  • February 2022
  • February 2020
  • January 2020
  • December 2019
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • September 2017
  • March 2017

Categories

  • Blog
© 2015 All rights reserved. AzPerLegal Services Inc. Website by Carol White.