Penticton Lawyer: Preston Mott
Wills & Estates  Real Estate   Mortgages  Business & Company Law

Probate and Estate Administration

Probate refers to the process whereby a will is approved by the Court as the last valid will of a deceased person and confirming and giving legal authority to the executor named in the will to administer the Estate.

Administration of the Estate is the process of dealing with the assets and debts of the deceased person according to the instructions contained in the will and according to the requirements of the law.

Trusts

Wills sometimes include provisions for money or assts to be held and invested by the Executor of an Estate, who for the purposes of the trust is called a Trustee. For example, where monies are to be used for the care and education of a beneficiary(s) under a specified age, the Trustee will hold and invest the monies “In Trust” for the beneficiary until the beneficiary attains the specified age.

If you would like more detailed information on this topic and other areas of law, you can refer to the extensive resources of the BC Branch of the Canadian Bar Association at www.dialalaw.org