Wills and Estates Lawyer in Mississauga, Serving the GTA & Ontario

Yes, you can write your own will in Ontario as long as you meet the following criteria:

• The will must be in writing.
• The will must be signed by you.
• You must be over the age of 18.
• You must be of sound mind when you write and sign the will.
• If the will is not handwritten, it must be witnessed by two people who are not your beneficiaries.

However, the risks of doing so are significant. If you are not sure how to write a will, or if you have any complex legal issues, it is always best to consult with a lawyer. They will ensure that your will is legally valid, make sure it reflects your wishes, help you avoid disputes, save time and money, and provide peace of mind.

No, you do not need a lawyer to file for a probate application in Ontario. However, it is advisable to hire a lawyer to probate a will, as they can help you ensure that your application is filed correctly and that you understand the probate process. Lawyers can also represent you in court if there are any challenges to your will. Ultimately, the decision of whether or not to hire a lawyer to probate a will is up to you, but if you are unsure about the process or if you have any complex legal issues,then it is advisable to consult one.

If you die without a will, your estate will be distributed in accordance with Ontario's Succession Law Reform Act. This means that your property will be distributed to your heirs according to a set of rules, regardless of your own wishes.

• The first step is to appoint an estate trustee. This is the person who will be responsible for managing your estate and distributing your property according to the law.
• The Estate Trustee will need to apply to the court for probate, which is the legal process of proving that the will is valid and that the estate trustee is authorised to manage the estate.
• Once probate is granted, the Estate Trustee will be able to distribute your property according to the law.

It is important to have a will to ensure that your wishes are carried out after you die. A will allows you to choose who will inherit your property and who will manage your estate. It also helps to avoid disputes among your heirs.

If you do not have a will, I urge you to consult with an estate lawyer as soon as possible. They can help you create a will that reflects your wishes and protects your assets.

The executor fee in Ontario is typically 5% of the estate's value. However, this is just a general guideline, and the actual fee may be higher or lower depending on the specific circumstances of the estate.

• The executor fee is calculated by taking 2.5% of the value of all capital receipts and disbursements and then adding 2.5% of the value of all revenue receipts and disbursements.
• Capital receipts are payments that the estate receives, such as the sale of real estate or investments. Capital disbursements are payments that the estate makes, such as funeral expenses or taxes.
• Revenue receipts are payments that the estate receives from sources such as rent or interest. Revenue disbursements are payments that the estate makes for expenses such as utilities or insurance.
• The executor fee is intended to compensate the executor for their time and effort in managing the estate. It is also intended to cover the executor's out-of-pocket expenses, such as court filing fees or travel expenses.
• The executor fee is typically paid out of the estate's assets. However, the will may specify that the executor is to be paid a different amount, or that the fee is to be paid out of a specific asset.
• The executor fee is not set in stone. The court may approve a different fee if the executor can justify it.
• The executor fee is not taxable income for the executor.
• The executor is entitled to reimbursement for reasonable expenses incurred in administering the estate.

If you are an executor, it is important to understand the executor fee and how it is calculated. You should also be aware of your rights and responsibilities as an executor. If you have any questions, you should consult with an estate lawyer.

The actual cost of probating a will can vary depending on the complexity of the estate and the lawyer's fees. The probate fee in Ontario is calculated as 1.5% of the value of the estate and is payable to the court when applying for a certificate of appointment of the estate trustee. In addition to the probate fee, lawyers may also charge an hourly rate or a flat fee for their services in probating a will, typically from $150 to $500 per hour. The flat fee for probating a will typically ranges from $1,500 to $3,000.

The length of time it takes to probate a will in Ontario can vary depending on a number of factors, including the complexity of the estate, the availability of documents, and whether there are any challenges to the will.

Generally, most estates take between 6 to 8 weeks to finish probate in Ontario. However, some cases can even take months or years. Some factors that can affect the length of time it takes to probate a will are:

• The complexity of the estate. The more complex the estate, the more time it will take to probate the will. This is because there may be more assets to be distributed, more beneficiaries to be notified, and more legal issues to be resolved.
• The availability of documents. If all of the necessary documents are not available, it will take longer to probate the will. This is because the executor will need to track down the missing documents, which can be time-consuming.
• Challenges to the will. If there are any challenges to the will, it will take longer to probate the will. This is because the court will need to hear the challenges and make a decision before the will can be probated.

If you have any questions about the probate process, you should consult with an estate lawyer. They can help you to understand the process and to ensure that your will is probated properly.

Assets that are not subject to probate in Ontario include:

• Assets that pass by beneficiary designation. This includes assets such as RRSPs, TFSAs, and life insurance policies that have a named beneficiary.
• Assets that are held in joint tenancy with another person. When two or more people own property jointly, the surviving joint tenant will automatically own the entire property when the other person dies.
• Assets that are held in a trust. The assets in a trust are not subject to probate because the trust document will specify who is entitled to the assets when the settlor dies.
• Assets that are located outside of Ontario. Assets that are located outside of Ontario are not subject to probate in Ontario. However, they may be subject to probate in the jurisdiction where they are located.

Even though these assets are not subject to probate, they may still need to be transferred to the beneficiaries and they may still need to pay taxes on the assets. The specific taxes that will be payable will depend on the type of asset and the beneficiary's circumstances.

If you are unsure whether an asset is subject to probate or have any questions about assets that are not subject to probate, you should consult with an estate lawyer. They can help you to understand the rules and to ensure that your assets are transferred to the beneficiaries properly.