Probate is not only a lengthy process, but as you can see - it's a costly one as well.
Aside from paying the probate fee to the ministry of finance, there are also several other fees which include but not limited to:
Legal Counsel: According to this legal fees study performed by Canadian Lawyer Magazine, in 2021 - the average probate lawyer fee in British Columbia was $4,750.
Professional Fees: In addition to legal counsel, other professional services may be needed such as an estate accountant to file the terminal tax return or t3 trust return.
Executor fee: Executors are able to charge up to 5% of the estates gross value.
Application/Court fee: a $200 basic application filing fee for estates with a gross value of over $25,000 - additional costs like court certified copies of a grant of probate or statement of assets and liabilities are $40.
Beyond the Supreme Court Fees
Legal, professional, and executor costs can significantly impact the estate's value, necessitating informed decisions and planning. Our team of estate specialists is here to guide you through these complexities.
To discuss how you can efficiently manage your loved one's estate book a free consultation with us today.
This conversation could offer significant savings and peace of mind, ensuring your legacy is preserved according to your wishes.