What is probate?
When you die, your will gives legal authority to deal with your estate to your executor (estate trustee in Ontario, liquidator in Quebec). Although your executor is legally entitled to do so, when the time comes to redeem or transfer certain assets registered in your name (such as investments with financial institutions, publicly traded shares, and in some instances, real estate) probate is usually required. Probate serves as proof to financial institutions, financial advisors and the land registry office that your will has been certified by the court and that your executor…
The entire report is below.
(Courtesy of Invesco Trimark)
