Garton & Harris
Blog

Estate Administration & Probate Archives

How to transfer bank accounts in estate administration

Individuals who act as executors have a tremendous amount of responsibility, and it's common to not quite know where to start. One of the first questions British Columbia executors may have in estate administration is how to transfer bank accounts in order to take control of the estate. While there are several ways this may happen, ultimately it comes down to providing adequate proof and paperwork to the bank. The bank must be able to confirm that the recipient has sufficient permissions and will also require proof that the original holder is in fact deceased.

What are an executor's first steps in estate administration?

When people agree to take on an executorship, they are often aware of the overarching responsibility to administer a will. But, many are not as clear on where to start, or what the step-by-step process is when it comes to estate administration. Here are some of the first things British Columbia executors should do when the estate owner passes away.

Dealing with estate administration without a written will

There are many steps involved in managing a person's assets, liabilities and affairs after they pass away. When no formal estate plan or will is left, this can make the estate administration process more complex. In British Columbia, the term for passing away without a valid will is dying "intestate." Fortunately, there are legal options available when this happens.

Is it worth transferring property before death to avoid probate?

Those who are planning the future of their estate often have have concerns about fees when it comes time to transfer their wealth to next of kin. These concerns are amplified for those who own a significant amount of property, as probate fees increase for higher-valued estates. Many homeowners or wealthy individuals in British Columbia have questions about how they might take actions prior to passing away to avoid expenses where possible.

Estate administration: When one executor lives abroad

Having an estate plan is vitally important for all adults regardless of their circumstances. In fashioning an estate plan, British Columbia residents must keep in mind who will be involved in estate administration once the time comes and there are a few things to think about when choosing an executor -- especially if the executor doesn't live in the country. For example, if a parent names two children as executors and one lives abroad, there may be some hurdles to overcome, but it could work.

Schedule An Appointment With Us

Send Us An E-mail
Scroll To Top