When To Start A Probate Application
When you should start a probate applications will vary on a number of factors in Alberta. Technically, no specific time frame exists as to when probate applications must commence. The following is information that will help you decide when to start the probate process. If you need more information, the Calgary probate application lawyers at Kahane Law Office can help. Call now 403-225-8810.
The Probate Application Process
The probate application process is only one step that an executor (personal representative) is responsible for. For more executor responsibilities in the probate process. One factor to consider in deciding when probate applications should start is to factor in that the executor has a fiduciary duty to the beneficiaries. This means that they must act in the beneficiaries best interest in Alberta.
How Long Probate Applications Take
For the most straight forward of estates, the probate process will usually take three to four months. There is no fast track program to speed up this process so this is a factor that you want to take into account when deciding when probate applications should be started. Remember, no one has a legal right to act for the estate, distribute property or enter into contracts on behalf of the estate until after probate is granted. From this prospective you may need to start probate sooner.
Factors To Decide When Starting Probate Applications
The following are some of the practical consideration as to when probate applications should start. There are lots of things that an executor must do. No executor is on their own. Executors may hire such reasonable help as they may need. This includes lawyers, accountants, financial advisers, etc.. Each situation is very different so if you have questions, do not hesitate to call our legal team.
Is There A House In The Estate To Sell
If there is a home or land that form part of the estate that needs to be sold, when probate applications are started may be earlier. Until the Surrogate court grants an order for probate, no one has the legal right to sell, transfer or list for sale with a real estate agent that property. Learn about some of the risks of selling a home before probate here.
The Estate Has Assets you Must Manage
If there are assets that need a person with a legal right to manage them, then you will want to start the probate application process sooner. Assets that may need management include businesses, traded securities, investments, etc. Talk to your probate lawyer for more information.
You Must Manage Estate Debts
The estate must pay the debts of the testator out of estate funds. Restrictions may exist in terms of accessing funds in the estates bank accounts. In order to access these funds, you will need to probate the estate sooner.
Beneficiaries Need Access To Funds
There are certain times when probate applications need to be started sooner than later because beneficiaries need access to the estate funds. These situations may include minor children, children, parents, or siblings of the deceased.
Anticipated Estate Disputes
If you are anticipating a dispute with respect to the estate, then you may want to get the process started right away. First, it will demonstrate that you, as executor, are not messing around with the estate. Some executors delay probate for years and beneficiaries get suspicious. Second, if there is a dispute as to whom is the executor of the estate, it is better to have the process started right away.
Need More Help Deciding When? Call Today
Let Kahane Law Office in Calgary, Alberta take some of the stress off your shoulders. As executor you have a lot going on. There is a lot to do, you have a lot of emotions to deal with. There may even be some family drama. Probating an estate is not a process you have to go through alone. Call today! 403-225-8810 locally or email us directly here today to contact us