Let’s face it, the mourning process when you experience a death can be difficult. This is especially true when it is the death of a loved one or family member. Unfortunately, death is a part of everyday life and is something everyone will experience at some point. This is why at isure, we believe knowing how to navigate the probate process of a deceased loved one’s property is important. Deciding what to do with your loved one’s estate can make the mourning process less stressful. So, what exactly is probate, and what happens to someone’s home when they pass away?
What is ‘probate’?
To understand what happens to a home when the owner of it passes away, we must first understand the probate process. To be more precise, what exactly is probate? According to the Ontario.ca website, probate is the taking of a person’s estate once they pass away. This can include real estate, vehicles, or other assets and liabilities. This is what is known as a person’s ‘estate’. When someone passes, the ownership of their estate will be transferred to someone else, also known as an executor. Generally, the executor will be a trusted friend or family member selected by the deceased in their will. A probate will validate a deceased person’s will and authorize the executor to distribute the estate. This process can differ if a will has been prepared or not. But generally, the probate process is the same across Canada.
What if the deceased does not have a will?
Though probate isn’t always mandatory when administering a property in Ontario, it is one of the most common methods. It can also differentiate depending on if the deceased has a will. If a will is left behind, the executor named in the will will be responsible for filing for probate. On the other hand, if no will is left, a close relative or other party member interested in the property can apply to be the estate minister.
How do I know if an estate qualifies?
If the owner of an estate dies without a will, it can sometimes be difficult to determine if an estate qualifies for probate. If you are having trouble determining, there are many reasons an estate should go through probate. The Government of Ontario website lists the following as situations in which an estate should go through probate:
- The estate owner dies without a will.
- The estate’s will does not name an executor or an estate trustee.
- Beneficiaries in the deceased’s will are not able to provide legal consent
- Who the executor or estate trustee should be is up for questioning.
- The validity of the will is up for questioning.
- The financial institution wants proof of a person’s legal authority to receive money from the bank accounts or investments belonging to the deceased.
What is the role of probate when it comes to homes?
Like a car or other important property item, transferring the ownership of a home will likely require going through probate. This will always be the case when the deceased marks considers the home a significant asset or when the ownership of the property is not 100% clear. In almost all cases, a home will be part of an estate. This means that probate will generally be required when it comes to legally transferring the home to new ownership.
How do I know if I’m eligible to apply for probate?
To properly apply for probate, you must first make sure you are eligible to do so. The last thing you want to do is get halfway through the application process before realizing you weren’t eligible in the first place.
If the deceased has a will, the executor will generally be the person who provides for probate. If the deceased does not have a will, a few people will have the right to apply for probate. These can be either:
- The deceased’s spouse or common-law partner
- A close adult relative to the deceased, such as a child, parent, or sibling.
In many situations when there is no will, the court will choose to appoint who they believe is the most appropriate, depending on the situation. This is why having a will in place is so important. The last thing you want is for the position of probate to go into the hands of someone who does not wish to do so.
How to apply for probate
Transferring the ownership of a home through probate has several steps, each equally as important as the next. Making sure you follow these steps correctly is key to ensuring the probate process is as smooth as possible!
Step 1: Prepare your application and the required documents
To properly prepare your application, you’re going to need a handful of documents that you must submit along with the application form. These are as follows:
- The deceased’s will, if available.
- A death certificate relating to the deceased.
- Additional documents that may potentially change or explain a section of the deceased’s will.
- Necessary court forms.
While applying for any time of probate, not just homes, you will be required to fill out extra court forms. The pre-formatted fillable estate forms can be found on the Ontario website. Since these court forms can sometimes be overwhelming or difficult to understand, it is always recommended you seek assistance from an estate lawyer. This can help you avoid any complications or mistakes.
Step 2: Determine the value of the estate
When filling out your court forms, it is important to determine the value of the estate, or in this case, the home. Determining the estate value is a crucial part of the probate process, as it will determine the estate taxes that must be paid. In the probate process of a home, it is important to include any property or land that the home sits on, not just the house itself. In cases where one is looking to take over an entire estate through probate, you will also need to include personal belongings. This can include artwork, cars, furniture, or other items. Check out our article for more information on the vehicle probate process in Ontario.
Step 3: Submit your application and pay any necessary fees
Once you are done collecting your documents and filling out the estate’s value, it is time to submit them. These will be submitted to the Superior Court of Justice in the city, county, or district where the deceased lived and passed. This application can be submitted in person, or by mail or email. Unfortunately, there may be some probate fees during the process. Whether a fee will be instated depends on the value of the estate or property. Generally, if an estate is under $50,000, there will be no fees. However, for anything above, you will be paying $15 for every $1,000 the property is worth. For example, if a property is worth $51,000, there will be a $15 fee to be paid.
If your probate application is accepted, you will be issued a Certificate of Appointment of Estate Trustee. This means you now can manage any assets within the estate. On the other hand, if your probate application is denied, this may mean you are missing some required information, or court records reveal problems within the application. This can happen if someone has applied before you. To get sorted, it is recommended that you speak to the court to determine your next steps.
How long does the probate process take for a home in Ontario?
The length of the probate process in Ontario can vary significantly. Generally, you can expect to wait at least 15 business days up to a month. With this said it can vary greatly depending on different factors. These factors include the complexity of an estate or how efficient the court system is.
Probate process for homes: Conclusion
Remember, no matter the situation you’re in, it is important to handle the death of a loved one with care and respect. Death is a confusing and difficult time for everyone involved. The easier the probate process for your home is, the quicker you can begin the recovery process. We hope the information provided can make your process go as smoothly and efficiently as possible. If you recently required a home through probate and are looking for a new insurance policy, contact isure for a home insurance quote today.
