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Ontario's new probate process for small estates is easier

This article appears in the June 2021 issue of Advisor’s Edge
The Ontario government’s simplified probate process for estates valued at $150,000 or less will make administering small estates less costly and easier for estate trustees (as executors are known in Ontario), estate practitioners say.
Probate, known as estate administration tax in Ontario, is the process whereby a court validates a will and confirms the executor’s authority to administer the estate. While not all wills need to be probated, banks and other financial institutions generally don’t release money held in the deceased’s accounts until the executor obtains probate. ....

Krystyne Rusek , Sanjana Bhatia , Matthew Urback , Pallett Valo , Shibley Righton , Small Estate Certificate , Estate Trustee , Sun Life Financial , சஞ்சனா பாட்டியா , பாலிலேத்ட் வலோ , சிறிய எஸ்டேட் சிஇஆர்டிஐஎஃப்ஐசிஏடிஇ , எஸ்டேட் அறங்காவலர் , சூரியன் வாழ்க்கை நிதி ,

Ontario's New Probate Procedure For Small Estates - Family and Matrimonial

3 The key changes
to the
Estates Act are discussed below.
A Small Estate is Set at $150,000
A small estate will mean an estate that does not
exceed $150,000 in value. It should be noted that the introduction
of small estates will have no impact on the calculation of the
Estate Administration Tax (often called, probate fees )
under the
Estate Administration Tax Act
4 and the filing
requirement of an Estate Information Return within 180 days
following the grant of probate.
Simplified Probate Process for Small Estates
A new probate proceeding for small estates will be available to
Estate Trustees. The new procedures under the Rule 74.1 ....

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