Probate Administrative Fees in BC
Probate administrative fees are charged by the BC government to oversee the settling of estates. Probate refers to a process that confirms a will is legitimate under BC laws. Uptown Notaries can assist you with a will as well as information about the cost of a will probate in BC. Not all assets are subject to probate. Whether or not a will must be probated hinges on the agencies and financial associations holding the assets of the estate – they may require a will be probated before assets are dispersed and therefore are subject to BC probate administrative fees.
Cost of Probate administrative fees in BC:
under $25,000 no probate cost
$25,000 to $50,000 $208 for the first $25,000 plus $6 per $1 ,000 thereafterover $50,000 $358 for the first $50,000 plus $14 per $1 ,000 thereafter
Probate Exceptions in BC
The following are cases when probate is generally not required and therefore not subject to Probate Administrative Fees in BC:
- When assets are owned jointly with right of survivorship and there is one or more surviving joint owner
- When assets have named beneficiaries on the policies and the named beneficiaries are alive (i.e. RRSPs/RRlFs, life insurance, pensions, tax free savings accounts, segregated funds)
- The value of the assets of the estate do not exceed $25,000
This is general information on the cost of probate administrative fees in BC. It is not legal advice.
Please seek specific information on your situation from a Notary Public or lawyer.
Probate Examples and Cost in BC
The following are some examples of when a probate is or is not needed and the cost of the probate administrative fees in BC. A couple own their home in joint tenancy; they have joint bank accounts with right of survivorship; and they own RRlFs in which they have named each other as the beneficiary. They own a car valued at $5,000 that is registered in the husband’s name.
Will probate likely be required if either one of them passes away?
No. Upon the death of either one of them, the assets will transfer to the surviving owner or to the named beneficiary.
As long as the value of the car is under $25,000 after funeral bills, etc. have been paid, then probate will likely not be required. The husband in Example #1 also owns shares in his name that are valued at $55,000. Is probate likely to be required?
Yes, if the husband dies. The company who administers the shares will likely require the Grant of Letters Probate to transfer the shares to the wife.
How much will probate cost?
The shares’ value is $55,000 and the car’s value is $5,000 then the probate administrative fee would be $498. A single woman owns a home worth $300,000; has $40,000 in the bank in term deposits; and $10,000 in her savings account. She has three children to leave her assets to and she has made a valid Will through her Notary Public or lawyer.
Is probate likely required?
Yes. Probate administrative fees would be payable if she has all of her assets in her own name.
How much would probate cost?
On an estate with the gross value of $350,000 the probate administrative fees would be $4,558.
Questions about Probate Administrative Fees in BC
Uptown Notaries has been providing quality legal services for over 28 years in Burnaby, Coquitlam and the surrounding areas. We can help you with the probate of a will and answer any questions you may have on the cost of probate administration fees in BC. Give us a call at Uptown Notaries, or schedule a free, no obligation consultation on Probate Administrative fees in BC.
