What is Probate?
Probate is the judicial procedure by which a testamentary document is established to be the valid will of a deceased person. If the Court is satisfied that the will put forward is the proper will of the deceased, it will issue a Grant of Probate. The Grant of Probate is a court order that confirms the will and appoints the Personal Representative. It is important because it gives the personal representative legal authority to deal with the deceased’s bank accounts, investment accounts, real estate, and other assets.
Unless the sums invovled are small, most banking and investment companies will not transfer assets to a Personal Representative without a Grant of Probate. A Grant of Probate is also necessary to transfer land at the Land Titles Office. Therefore, obtaining a Grant of Probate is often a critical step in the adminstration of an Estate.