Estate Administration — Three Common Questions
As one of Vancouver’s few estate law boutiques, Edward F. Macaulay Law Corp. has answered thousands of estate-related questions over the decades. Many of our clients suddenly find themselves as estate executors for the first time. They all seek guidance and advice on carrying out their duties and we provide answers — some for simple inquiries and others complex. Following are a few common questions we answer.
My Parent Just Passed Away — What To Do Now?
Death brings on a quick succession of events. Some tasks require immediate attention, such as making funeral arrangements. Others — including estate administration — can wait. With the latter, it’s beneficial to take the time necessary to deal with the loss before tackling financial and legal tasks.
Once a bereaved is ready, he or she can begin winding up an estate through such actions as probating the will, protecting assets, filing taxes, paying debts and distributing the estate.
My Parent Met A New Partner Before Passing Away— Can I Protect The Assets?
If a parent formed a new relationship later in life, the deceased’s adult children may feel immediate apprehension over such questions as:
- Will the new partner share half of the assets?
- Can a child immediately cancel the parent’s credit cards?
- What if the new partner is dissipating the assets?
Every case is different, but an experienced estates lawyer can provide factual and legal analysis along with options and a plan of action.
How Much Are Probate Fees?
Only assets inside an estate’s will need to be probated in court. This process of proving the will’s validity incurs probate fees. Currently:
- No fees apply to estates less than $25,000
- Estates between $25,000 and $50,000 must pay a basic $208 fee plus $6 for every $1,000
- Above $50,000, the estate pays an extra $14 for every $1,000
On top of probate fees, legal fees and other charges such as for transferring property may apply.
Other Common Questions
- What happens if there is no will?
- What are a trustee’s responsibilities?
- How can we handle disagreements about an estate?
Get Answers To Your Estate Law Questions
Whether your matter is straightforward or complex, our lawyer can provide you with customized direction and pointed answers. To arrange a meeting, email us or call us at 604-259-2896 or 800-401-4983 toll free.