Probate Fees in Canada: What is it and can you avoid it?

Welcome to a comprehensive guide on Probate in real estate planning! In this video, Clinton & Kevin break down the intricacies of Probate, a crucial legal process. Discover why Probate is essential, ensuring the validity of a will, preventing conflicts, and ensuring financial institutions can follow the will's instructions confidently. Clinton & Kevin also delve into the Cost of Probate, emphasizing that fees are not income tax but based on the estate's value, which varies across Canadian provinces and territories.

Learn about practical Ways to Avoid Probate Fees, including Early Inheritance, Joint Ownership, and Beneficiary Designations, with insightful considerations for each strategy.

While there's no magic solution to completely avoid Probate, careful planning in your estate strikes a balance between simplicity and tax efficiency. Join us in demystifying Probate and optimizing your estate plan for a secure future.

Clinton and Kevin are with Becker Orr Wealth Management and are both Portfolio Managers with Canaccord Genuity Wealth Management. Combined, they have over 40 years of experience.

Chapters -
0:00 - Intro
0:13 - What is probate?
1:32 - Why do we have probate?
3:17 - How much are probate fees?
5:48 - How to avoid probate?
6:29 - Early inheritance
7:52 - Joint ownership
9:49 - Beneficiaries
12:45 - Have a plan

Have a question or want to review your financial plan? Chat with us! Visit:
https://www.beckerorr.com/chat-with-us